Medical, Lab & IT Equipment Benchmarking & Analytics

Medical, Lab & IT Equipment Benchmarking & Analytics

November 07, 2016

Blog

3 Money-Saving Facts to Know Before Purchasing Chemistry Analyzers

If your hospital does its own laboratory services, then you know how expensive it is to purchase equipment for it. One chemistry analyzer can cost upwards of $500,000. Not to mention, ongoing reagent, software and service contracts increase the total lifecycle investment in these analyzers dramatically.

Here are 3 facts you should know before entering into any chemistry analyzer agreement:

  1. Heavy Competition Creates Leverage During Negotiations – There are many different companies that manufacture chemistry analyzers. Johnson & Johnson (Ortho Clinical Diagnostics), Beckman Coulter, Roche, Olympus among others, all sell competing models. Creating a healthy, competitive environment at the negotiating table could help your leverage and bring prices down.
  2. Be Prepared to Replace Them Before They Fully Depreciate – The average American Hospital Association (AHA) useful life for a chemistry analyzer is five years, and many times they only last three. Due to their short useful lives, many OEM’s and leasing companies provide flexible payment options for analyzers, and it might be worthwhile to consider them.
  3. Low Resale Values – Many OEM’s that sell chemistry analyzers are notorious for making it extremely difficult to access service, software and reagents for secondary market buyers. As a result, resale values for chemistry analyzers tend to be much lower, on average, than other clinical equipment. It is common for hospitals to take a hit on their balance sheets when it comes to replacement time, so it’s helpful to have a strategy for this, as opposed to being blindsided.

Know the right price.

And get it.

Having the right information saves hospitals time and money on medical equipment lifecycle costs.

Scott Bosch

Manager of Clinical Engineering

Park Nicollet Health Services

“The groups responsible for managing technology in our healthcare organization need data and analysis to manage costs and make informed decisions. Miga’s EVMS platform is an important and valuable resource that helps us make the right decisions for both our clinical priorities and budget.”

Matt Werder

Chief Technology Officer

Hennepin County Medical Center

“Miga’s data is key to helping us be good financial stewards and validates we are using our resources wisely. The market intelligence provided by Miga’s EVMS platform has allowed us to save substantial amounts of money.”

"Miga’s ability to match equipment donated by their customers with the needs of our medical projects has been a most valuable and welcomed resource."

Jim Tierney

CEO

Suburban Radiology

“Miga’s data, analysis and expertise – in particular related to the fair market value of clinical equipment – is a critical resource we need to support strategic acquisitions, divestitures and joint ventures.”

Eric Hoag

Director, Corporate Strategy & Development

Allina Hospitals and Clinics

“Miga’s proprietary data and expertise was critical to our ability to close an acquisition deal quickly and with a high level of confidence in our valuation.”

Bill Barta

Corporate Director, System Imaging

Fairview Health Systems

“Miga’s objective information-based approach and understanding of the needs of hospitals makes them a valuable resource and helps us make the most cost effective spending decisions.”

Matt Blashill

Enterprise Director of Supply Chain

Lake Region Healthcare

"There’s a personal touch that sets Miga apart from their competitors. They don’t just offer great insights. They always take the time to provide additional analysis that is meaningful and actionable."

Dan Bazinet

Director of Clinical Engineering

Southcoast Health

“In all my years in health care, I’ve used a lot of benchmarking tools. Most simply repeat information passed along from others; Miga’s information tells me what’s really happening.”

COO

Community Hospital

"Miga's negotiating skills save us time and money. And their unique understanding of the market means we’re always playing from a position of strength."

Supply Chain Director

Regional Healthcare System

“All suppliers claim to have excellent customer service. Miga actually walks the talk and always has our best interest at heart. We love working with them."