Every health care organization needs technology to deliver patient care — from diagnostic imaging and monitoring devices to life support and surgical robotics. But some health care providers are making costly mistakes that cause their technology to be more expensive than their competitors’.
Smart healthcare technology management (HTM) challenges these myths with more creative options that drive savings. Health system Bon Secours Mercy Health has experienced a 30%+ cost improvement after implementing the Advantus HTM program with GE HealthCare.
HTM has evolved beyond simply repairing equipment. It’s about creating a comprehensive asset management strategy for your unique fleet of equipment and patient populations.
Here are common HTM mistakes asset management specialists see health systems make.
Mistake 1: Skipping a comprehensive service program for “old” equipment
It’s common for health systems to think their equipment is “too old” to benefit from an HTM program. However, HTM optimizes the life cycle of all equipment, even if it’s 10+ years old. You can better understand the capabilities, utilization and maintenance needs of equipment, whether it’s brand new or well used.
As healthcare technology equipment ages, it might need more frequent maintenance or experience more downtime. You could be tempted to believe the solution is simply buying new equipment and accepting the hefty price tag it comes with.
But there’s a chance that you don’t need new healthcare technology—you need smarter management strategies that create parameters around optimizing current equipment and extending life cycle through a maintenance program.
“A good program considers both the patient perspective and the business side to provide the best results and pathways of care,” says Mohamed El-Demerdash, President, Healthcare Services US and Canada, GE HealthCare.
>> Further Reading: Debunking 4 Common HTM Myths >>
Mistake 2: Using equipment until it’s no longer functional, then replacing it
It’s natural to want to get the most out of your investment. But that doesn’t happen by using equipment until it’s no longer functional or until it expires. This limits your ability to recoup value on your investment it has no value at that point.
This approach doesn’t consider the entire life cycle of equipment. For example, let’s say a piece of equipment has a 10-year life cycle. Asset management specialists will also factor in its maximum resale value — perhaps at two years before then.
So instead of running the equipment through its full life cycle, they will recommend selling it at year eight and reinvesting the sale price into new equipment. This approach ensures you maximize the value of each item, fund newer equipment, and install newer devices sooner.
“We’ve designed the Advantus HTM program with GE HealthCare to bring clear value to the bottom line,” says President Dan Hurry. “This value can be reinvested into the health system, which they can use for more equipment or other resources as they see fit.”
Mistake 3: Not enlisting data and AI to inform HTM
Keeping track of thousands of devices and their manufacturers is a challenge for any health system — much less knowing where each piece is in its life cycle. The right data will inform better decision-making.
“When you’re hyper-informed on decisions, it’s less of a guessing game,” says Dan. “There’s always going to be a little bit of ‘art,’ but the more informed you can be, the better decisions you’ll make.”
In HTM, this could look like:
- Understanding the true capabilities of your healthcare technology fleet
- Optimizing asset utilization and life cycle
- Matching equipment to the needs of the patient population in your service areas
- Allocating capital expenditures where they’re needed most to support your community
- Balancing equipment needs with cost efficiency
“I think the future of HTM is about how we provide tools that will help hospital systems self-determine and self-govern what they do with their devices — and that is going to take it all to the next level,” says Mohamed.
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