Controlling and Managing the Capital Equipment Process

Description:

When purchasing is involved at the start of the capital equipment process, it can lead to better value outcomes and improved customer experience at the department level. This webinar presents ways to develop internal controls and accountability for the purchase of new and replacement capital equipment and for other forms of capital expenditures in health care organizations.

The lecture also covers how to obtain value from carefully negotiated terms and conditions, Total Cost of Ownership (TCO) principles, and how to match user specifications and requirements with the actual purchase. The presenter discusses best practices for reviewing and obtaining capital equipment terms and conditions, as well as the use of mileposts from approval through acquisition and installation of major equipment.

How this session relates to the Cost, Quality, and Outcomes (CQO) Movement: We review ways to bring value (up to 10% or more) from carefully negotiated terms and conditions, as well as Total Cost of Ownership principles. Covered topics include how to match user specifications and requirements with the actual purchase, while maintaining the best overall capital quality for an assigned task. Improved processes will result in better outcomes by selecting the capital that best serves the patient.

Learning Objectives:

• Compare your organization’s existing capital acquisition processes to the leading practices explained in this session.
• Work and engage with physicians and clinicians at the divisional/departmental level in your organization.
• Use Total Cost of Ownership to effectively evaluate products beyond price, features, and benefits.

Target Audience:

Directors of purchasing, supply chain management, department leaders responsible for capital budgets, controllers and other finance staff charged with acquiring capital equipment.

Presenter:

• John Strong, MBA — Co-Founder and Chief Consulting Officer, Access Strategy Partners