Medical, Lab & IT Equipment Benchmarking & Analytics

Medical, Lab & IT Equipment Benchmarking & Analytics

The Problem

Incomplete Information

Traditional benchmarking relies on hospital-reported data that doesn't include best price. And ignores essential information from other sources.

It’s hard to make good decisions using bad information.

Information incomplete.

Traditional benchmarking relies on hospital-reported data that doesn’t capture the best prices because hospitals don’t report them.

It’s about more than purchase price.

Traditional benchmarking focuses on purchase price, which is less than 25% of total equipment lifecycle costs. Effective benchmarking needs to consider many other costs such as service, software, support, training, upgrades, supplies and more, that account for the remaining 75%.

The medical equipment marketplace is hard to navigate.

It’s a complex market. Prices change frequently. Availability is uncertain. Suppliers have an information advantage and want to sell the most product at the highest price. It’s frustrating, time consuming, and often hard to know where to turn.

But it’s easier than you think to get better information.

medical equipment lifecycle

Better information unlocks $14,900 per bed per year in missed savings

US hospitals spend more than $110 billion annually on the purchase, service, and disposition of medical equipment. $14 billion — $14,900 per bed per year — is wasted because hospitals continue to rely on incomplete, inaccurate information that doesn’t reflect the best prices available.

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."