Medical, Lab & IT Equipment Benchmarking & Analytics

Medical, Lab & IT Equipment Benchmarking & Analytics

March 24, 2017


March Madness and the Power of Information

It’s March again and our NCAA bracket office-pool reminded me about an article I read about “sharps” and “squares.”  Huh?  What on earth could this have to do with making decisions about medical equipment costs? Let me explain.

In betting parlance, “sharps” are the successful bettors and “squares” are the majority of casual bettors.  The article went on to say that most people think that sharps are people with inside information, foolproof systems or more knowledge than most.  It just isn’t true.  The major difference between a sharp and a square is the amount of time and effort sharps put into their decisions.  Casual bettors – like me – look at a couple of stats, read an article and pick the team they like better.  But the sharps make a commitment to do work that allows them to understand what really matters and get the right information to know what to do and what not to do.

For example, while casual bettors are concerned about who they think is going to win, sharps couldn’t care less about this.  What they care about is value – the price they can make the bet on that gets them the most return (like betting against what they have analyzed to be a bad spread).

When it comes to healthcare equipment buying decisions, I’m surprised at how many people I know exhibit “square” behavior.  Significant amounts of dollars are spent “betting” on decisions with very limited and often unreliable information.  No wonder everybody complains about how difficult it is to negotiate with equipment manufacturers and how they end up paying more than they think they should.

But it doesn’t have to be so.  Sharp buyers can find the right information in all those numbers. The right information can level the playing field when negotiating.  It provides transparency to all stakeholders, curtails inefficiency, and – perhaps most importantly in these uncertain times – reveals previously undiscovered value and savings.   Just like sharps, one just has to be committed to finding value and the right information.

This blog is about getting the right information to be a “sharper” healthcare executive when it comes to equipment spending.  We’ll be inviting guest authors and many readers like you to share your perspectives and participate in the dialogue.  We hope you visit here every Monday so we can share our adventures together.

Meanwhile, as a Northwestern alum, I was excited about their first round win… Based on all the information I’ve seen, I’m still betting on UNC to win the whole thing!

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


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.”


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."