Medical, Lab & IT Equipment Benchmarking & Analytics

Medical, Lab & IT Equipment Benchmarking & Analytics

July 09, 2018

Blog

Don’t Let the Heat of Summer Slow Down Your Savings

The heat of summer often invokes images of lazy days, drinking lemonade on the porch and avoiding exerting oneself too much in an effort to stay cool. The hot, muggy summer heat can be a deterrent to many activities you want to get done – whether weeding the garden, working out or finally getting to the work projects you have been putting off for months. When it’s really hot outside and no matter how much you may be motivated to get things done, it’s easy to fall into the trap of just kicking your feet up and staying inside.

You’re probably thinking “what in the world does the summer heat have anything to do with hospitals finding savings in capital equipment?” In a literal sense, nothing. But in this case, everything. With summer in full swing, hospital executives around the country tell us that “it’s hard to get much done right now” given many executives and supplier representatives are on vacation and everything seems to move more slowly.

Instead of letting the summer heat slow down your efforts, look at it as an opportunity to demand more attention and better information from your supplier representatives. Get the best prices or take advantage of possible discounts or incentives their company may agree to now, vs. waiting until later in the year when the temperature gets colder and activity gets hotter. This is relevant even if your reps, or their bosses – are on vacation or claim to be busy with summer activities. If they want your business, they will make the time to get you what you want so you can make the most informed and confident spending decisions about their products or services.

Your industry peers may think that waiting for everything to get back to its normal pace will make everyone’s life easier, the reality is it’s rarely the case. You run the risk of having to compete for your reps attention with every other hospital facing budget and spending deadlines. There is a real cost to waiting. As everyone gets increasingly busy, hospitals are often forced to scramble to finalize the exchange and review of supplier quotes and other critical information, and it puts more pressure on you, your team and your suppliers to get things done under tight deadlines. Instead of falling into that trap, think of the time – and money – you can save by pressing your reps into action now.

Take advantage of the many positive aspects of summer to capitalize on the opportunities that may not be as easy to accomplish later in the year after vacations are over and everyone is fully engaged. Finally, as a Minnesota-based company – we know all too well that winter is always just around the corner. Remember that if the heat gets to be too much, you can always turn on the A/C, grab a Popsicle and be sure to take time to enjoy all that summer has to offer.

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."