Medical, Lab & IT Equipment Benchmarking & Analytics

Medical, Lab & IT Equipment Benchmarking & Analytics

August 21, 2018

Blog

Sustainable Savings Now A Top Priority for Hospital CEOs

The Advisory Board recently announced the results of its 2018 annual Health Care CEO survey identifying the current top priorities for U.S. hospital and health system CEOs. While it was no surprise that cost savings-related priorities remain important, this year they occupied the top 2 spots in the survey results. The Advisory Board commentary observed that executives are looking for long-term, structural solutions to structural margin challenges, with the two highest scoring topics being: 1) preparing the enterprise for sustainable cost control, and 2) innovative approaches to expense reduction.

This is consistent with our experience and ongoing dialogue with hospitals that are now looking for innovative approaches to expense reduction as a way of preparing their enterprise for achieving sustainable cost control.

If the big question for you as a hospital executive is “how” and “where does one start?” in our next blog, we’ll discuss how hospitals can achieve structural cost reduction and sustainable cost control by having the right information to manage total cost of ownership (TCO) of medical equipment. Stay tuned for more about how hospitals can uncover hidden savings and respond with confidence to the current and persistent financial pressure they are facing.

 

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."