Since 2004, leading hospitals have saved millions of dollars annually across their entire medical equipment lifecycle by working with Miga Solutions. Hospitals have used Miga’s proprietary on-line information tools and marketplace services to make better-informed and more cost effective decisions when purchasing, servicing and disposing their equipment.
Medical equipment spending, after personnel and supplies, is the largest expense item in a hospital’s P&L. Annual equipment-related spending in the US exceeds $81B1, and 70% of those costs occur after new equipment has been purchased.
Based on actual experience generated from client hospitals, Miga estimates that hospitals can save an average of $11,000 per bed every year by using the information, tools and services that only Miga Solutions can provide.
How We Do It
Miga’s Equipment Value Management System℠ (EVMS) gives hospitals access to prices for medical equipment, actual (not projected) trade-in values, and service/repair costs. Our data is aggregated and continuously updated from Miga’s global network of more than 50,000 sources and currently covers more than 20,000 different types of medical equipment.
EVMS arms hospitals with information that most manufacturers and suppliers don’t share and is not available from other sources; neither MD Buyline, ECRI nor any GPO. Without having information about the 70% of costs that occur after new equipment has been purchased, hospitals are leaving significant savings opportunities on the table every year.
Hospitals use information from Miga’s Equipment Value Management System℠ (EVMS), to benchmark and compare equipment related costs, strengthen their negotiating position with suppliers, and navigate the pre-owned equipment market in order to implement and take advantage of savings opportunities.
How Hospitals Benefit
Hospitals find EVMS easy to use and easy to implement. There is no hardware or software to buy and hospitals can be up and running in as little as 30 days without having to make any internal operating changes.
Most importantly, hospitals have found EVMS to be a self-funding solution guaranteed to pay for itself from the savings it generates.
How Miga Makes a Difference
Miga is committed to helping hospital clients provide exceptional care while finding ways to reduce costs and create recurring annual savings.
Miga also promotes the sustainable use and responsible recycling of equipment no longer needed by our Clients. Miga’s non-profit Miga Solutions Foundation (501(c)(3)) facilitates donations of usable equipment on behalf of our clients to healthcare providers around the world.
¹2011 Annual Capital Expenditures Survey; 2011 Service Annual Survey, U.S. Census Bureau