Medical, Lab & IT Equipment Benchmarking & Analytics

Medical, Lab & IT Equipment Benchmarking & Analytics

June 23, 2021

Blog

How Hospitals Find Extra Savings When Purchasing Medical Equipment

When you purchase medical equipment, you may think you’re getting the best price, but there are many variables that affect the true cost of equipment:  product configuration and options; pricing terms and applicable discounts; special incentives or promotions; trade-in value; warranty terms; and more. Even if you’ve purchased the same equipment previously at a good price, that doesn’t mean there aren’t better deals available today that can save you even more money.

Unless you have a crystal ball, or can track these many details on a regular basis, the only way to be certain you’re getting the best price every time is to benchmark every equipment purchase quote against the best and most complete product and pricing information available before you issue a purchase order.

A community hospital in New England recently found out how valuable using the best information can be. Before finalizing a $170,000 purchase of two new ultrasound machines, they ran an EVMS Purchase Quote Review and identified a special promotion. The hospital used this information to negotiate additional savings of more than $21,000, or an extra 12.6%, off what they had been prepared to pay. 

If you’re an EVMS subscriber, you already have access to the best information available. Take this tip as a reminder that every purchase quote has the potential for extra savings, and using EVMS to benchmark before every purchase is the best way to save your hospital the most money in the long run.

If you’ve never used our Equipment Value Management System (EVMS), we would love the opportunity to show you how to know with certainty you’re getting the best price and maximize savings for your hospital. You’ll quickly understand what makes our data and technology better, and how EVMS can find you more savings than any other solution available. 

Why Pay More than You Should?

Allow Miga Solutions help you be certain you are getting the best price on every purchase. Contact our Client Experience Team at client@migasolutions.com or (763) 225-8400 for questions or assistance. We look forward to hearing from you!

Know the right price.

And get it.

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

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.”

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."

"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.”

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.”