Medical, Lab & IT Equipment Benchmarking & Analytics

Medical, Lab & IT Equipment Benchmarking & Analytics

September 30, 2022

Industry Tips

Expect the Unexpected

Two and a half years into the pandemic, hospitals have become skilled at managing supply chain disruptions. A market alert sent last week communicated recent global events that are likely to prolong disruptions.

Here are three proven ways hospitals can plan ahead to minimize the impact of product shortages:

Count. Increase. Pester.

1) Count inventory now – and often – so you’re not surprised by the next shortage.

2) Increase existing order volume to hedge against allocations.

3) Pester suppliers frequently about order status so if anything changes, you get the new information as quickly as you need it.

A community hospital was not getting all the surgical products it needed due to back orders and allocations. After cancelling several surgeries, they began taking a daily inventory of the most critical OR products so they’d know what they had, and where they risked running out. The supply chain team used inventory data to increase order quantities and adjust for allocations, and started contacting their supplier rep at least twice weekly for an update on open orders. After two months, they had reduced their out-of-stock products by 64% and had fewer stressful moments and cancelled procedures.

Miga Solutions provides the most accurate and actionable pricing information, enabling hospitals to lower their medical equipment total cost of ownership (TCO) by 12-16%. To learn more about how your hospital can save, contact us.

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."