Medical, Lab & IT Equipment Benchmarking & Analytics

Medical, Lab & IT Equipment Benchmarking & Analytics

June 06, 2016

Blog

Make Sure Your Suppliers Aren’t Hiding Anything on Their Quote

Consider this…would you buy a new car without knowing the cost of each option on the sticker? How would you be able to negotiate a lower price if you didn’t know the cost of that paint job? Answers: You wouldn’t and you can’t.

So, why would you try to negotiate a 50-page capital equipment quote that has 100 line-items and one price at the bottom? You shouldn’t. Increase your negotiating position by demanding line-item pricing.

Here are three great ways to make sure your Suppliers aren’t hiding anything on their quotes:

  1. Request all line items be priced separately – They might not do it on their first draft, but if you ask your Suppliers to list the prices out separately for each of the components of the quote, they usually will. This will allow you to more get a better “apples to apples” comparison of what you’re buying.
  2. Request both list prices and discounted prices – Always ask for both the list prices and quoted prices for each line item. This will allow you to better establish true discount percentages, a key metric when comparing same or similar equipment pricing.
  3. Request any trade-in value or offers be provided separately as a stand-alone option – Don’t let trade-in offers fool you. Sometimes trade-in offers are simply marketing promotion dollars applied to the purchase and don’t represent the true value of the equipment. Instead of trading in your equipment, keep it. Many times they’ll still be able to apply the same discount offered. Best of all, you can always resell the equipment you didn’t trade in and get double the value!

Apply some of those same car-buying tactics when purchasing medical equipment. You’ll see the same strategies often work just as well!

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."