Just about every equipment negotiation has to contend with some kind of ticking clock – an annual budget allocation, an approaching end-of-service date, or dozens of other legitimate reasons for a hard deadline. But often, hospitals can feel pressured to complete their purchases on deadlines tied to the supplier’s sales goals. Why? To be fair, there can certainly be advantages to meeting a supplier’s desire to get deals completed in a way that best supports their goals and business objectives. But whenever you’re feeling pressured to meet an arbitrary deadline set by the supplier (e.g., end of month), you run the risk of adding stress for the department leaders and supply chain executives left scrambling to finalize approvals before time runs out on the imaginary clock.
Don’t feel obligated to meet supplier-imposed purchase deadlines if you aren’t ready. Supplier reps are great at creating a sense of so-called “negotiation urgency” in order to apply pressure to a deal. At its best, this can mean making sure that you don’t miss out on limited-time offers or that you complete a purchase before stock runs out. But sometimes, that ticking clock creates a sense of crisis that can push you into making hasty decisions. It can be easy to get caught in the sense of urgency that comes with the negotiation process, but don’t let arbitrary deadlines push you to make decisions before you’re ready. If you need to take another week to run a new quote through benchmarking and secure approval before finalizing a purchase, take the week (assuming it won’t impact any of your hospital stakeholders). Remember, your suppliers are supposed to be working on your behalf.
The capital equipment budgeting and approval process can be a lengthy one for many hospitals, but that’s all the more reason why you shouldn’t rush at the finish line. Take the time you need and, if necessary, be prepared to hit the pause button on your equipment negotiation in order to get the outcome your hospital deserves.