Medical, Lab & IT Equipment Benchmarking & Analytics
Medical, Lab & IT Equipment Benchmarking & Analytics
Medical, Lab & IT Equipment Benchmarking & Analytics
Traditional benchmarking relies on hospital-reported data that doesn’t capture the best prices because hospitals don’t report them.
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%.
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.
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.
Having the right information saves hospitals time and money on medical equipment lifecycle costs.
“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.”
"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."
“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."
“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.”
“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.”
“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.”
“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.”
Miga Solutions is an information services company, helping leading hospitals reduce medical equipment and IT costs since 2004. Our EVMS Benchmarking 2.0® platform enables hospitals to benchmark using better data, find more savings, and make better spending decisions across the medical equipment lifecycle. Coupled with unparalleled marketplace expertise, our solutions bring our clients to the lowest possible total cost of ownership.
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