No One Makes Good Decisions Using Bad Information
Using inaccurate and incomplete medical equipment price benchmarking information is costing hospitals $11 billion in wasted spending every year. The key to saving this $11 billion is to deploy a next-generation solution that uses the most accurate price benchmarking information available and addresses the entire medical equipment lifecycle. It’s called Benchmarking 2.0® and it is only available from Miga.
Maximize Medical Equipment Lifecycle Savings
The medical equipment lifecycle represents the largest portion of hospital spending not yet adequately addressed by hospitals. Lacking accurate information, internal resources, bandwidth, and specialized expertise, even diligent hospitals are missing savings of $12,000 per bed annually despite their best efforts using old-generation benchmarking information and tools.
Miga’s Benchmarking 2.0® approach provides hospitals with the ability to confidently make and execute smarter spending decisions by combining the most complete and accurate pricing information with services that make it easier to get that price. And only Miga’s Equipment Value Management System can deliver these savings.
EVMS is the leading Benchmarking 2.0® platform and is only available from Miga Solutions. It is the first and only benchmarking solution available to hospitals that guarantees savings.
Benchmarking & Analytics
Know the Right Price with unparalleled breadth and depth of market data compiled from 50,000+ global sources delivering the most accurate and actionable information.
Get the Right Price with our complete suite of solutions to help hospitals source, negotiate and transact their medical equipment and IT needs quickly, efficiently and at the best price.
EVMS: The Platform Powering Your Savings
Makes & Models of Equipment
Quotes With Savings Identified
Average Savings Realized
Information You Want. Anytime. Anywhere.
Each EVMS report delivers essential information needed to identify savings in all of your hospital’s medical equipment and IT lifecycle decisions.
What Hospitals Are Saying
Chief Technology Officer
Hennepin County Medical Center
Manager of Clinical Engineering
Park Nicollet Health Services
Case Studies: Hospital Savings
ENDOSCOPY FLEET REPLACEMENT
Better Information Saves $231,000 (12%)
A hospital replacing their fleet of endoscopy equipment lacked confidence that they had gotten the best price and trade-in offer. They needed to know if they could save more or if there was a better option.
Using EVMS information, the hospital identified substantial savings that still could be realized. They leveraged this information to successfully negotiate an additional $231,000 in savings.
MRI REPLACEMENT PURCHASE & TRADE-IN
Better Information Saves $236,000 (17%)
A hospital purchasing a new MRI wanted to know if the quoted price of the new system and trade-in offer for their old MRI were the best they could get.
The hospital leveraged EVMS information and found the quoted purchase price was more than 10% higher than what other hospitals were paying. The trade-in offer was also low. They negotiated an additional $126,000 in discounts and sold the old MRI for $110,000 more than the trade-in offer.
PATIENT BEDS & STRETCHERS EMERGENCY PURCHASE
Better Information Saves $180,000 (77%) & Critical Time
A hospital urgently needed additional patient beds and stretchers to meet the surge of COVID-19 patients. Suppliers were quoting 3x normal prices and estimating at least 4 weeks for delivery.
The hospital leveraged EVMS information to locate beds that were available immediately at 77% less cost. Not only did they save $180,000, but they also received the beds in less than 24 hours which enabled them to be ready for the surge in patient volume.
LINEAR ACCELERATOR SERVICE CONTRACT
Better Information Saves $520,000 (36%)
A hospital wanted to know if the annual service price quoted by the supplier was consistent with market rates other hospitals were paying (for the same level of service coverage).
Leveraging EVMS information to benchmark the quoted price against market prices, they discovered other hospitals were paying 20% less for comparable service. Armed with this information, the hospital was able to negotiate an additional $520,000 in savings.
X-RAY SYSTEM CRITICAL REPAIR
Better Information Saves $34,000 (87%) & 3 Weeks Time
A hospital experienced a part failure on a high-volume x-ray room. The manufacturer quoted $39,000 to replace the part and estimated 5 weeks to complete the repair. This would have cost the hospital $50,000 in lost patient revenue.
The hospital leveraged EVMS information to find an independent service provider who had the part and could complete the repair at a fraction of the cost in less-than 2 weeks. The hospital saved 87% on repair costs, 3 weeks of unplanned downtime and avoided $30,000 in lost revenue.
MULTI VENDOR SERVICE CONTRACT RENEWAL
Better Information Saves $1,100,000 (16%)
A hospital was renewing a 5-year, multi-vendor service contract covering 51 imaging systems. The manufacturer/current multi-vendor service provider quoted a 15% price increase the hospital had not budgeted for and was not willing to pay.
The hospital leveraged EVMS information to identify 11-29% in potential savings that could be realized from their current supplier & other independent service providers. The hospital ultimately realized 16% savings by selecting a hybrid of both manufacturer & independent service providers.
PATIENT MONITOR FLEET RESALE
Better Information Saves $491,000 (124%)
A health system standardizing their patient monitors had planned to trade in their old monitors as part of the new purchase. The trade-in offer was far below the value the hospital anticipated, leaving their budget short on funds to complete the purchase.
Using EVMS information, the hospital validated strong market demand for the old monitors, at prices far greater than the trade-in offer. The hospital sold the old monitors separate from their new purchase for an extra $491,000 (124%) above and beyond the trade-in offer.
LIQUID HANDLING SYSTEM RESALE
Better Information Saves $67,000 (>100%)
A hospital was replacing liquid handling systems that were not yet fully depreciated in value. The supplier for the new units offered a $0 trade-in and the hospital needed to find a way to avoid the unplanned write-off and financial loss.
The hospital leveraged EVMS information to determine that the systems had marketable value. They sold the old systems and recovered $67,000 in net proceeds compared to $0 they were offered for the trade-in.
HEMATOLOGY ANALYZER REPLACEMENT
Better Information Saves $43,000 (>100%)
A hospital was upgrading four lab analyzers to a newer model. The supplier of the new systems told them their existing systems had no value and quoted them a fee to remove the old units.
The hospital leveraged EVMS information to benchmark current market values and discovered the analyzers were worth at least $10,000 each. They sold the analyzers and realized $43,000 of net cash proceeds.