Costs related to procurement, shipping, warehousing, delivery, setup, education, and disposal are all elements that make up the total cost of ownership. To accurately understand the lifecycle of equipment, it is critical that you consider every step in its useful life. By considering all factors associated with equipment and calculating the costs associated with each, health systems can accurately determine the total cost of ownership for their capital equipment.

In this session, join industry thought leaders as they discuss the implications of total cost of ownership, not only on your equipment, but your organization.

Learning Objectives:

1. Understand the various elements that contribute to TCO, including planning, specification, sourcing, installation, warranty, operation, and disposal.

2. Analyze the influence of technology on TCO. Determine if the new equipment aligns with your existing technology infrastructure.

3. Define strategies for efficient lifecycle management. This involves planning for procurement, maintenance, and eventual disposal. Optimize each phase to minimize costs.

4. Prepare for TCO As ongoing process and analysis . Regularly review and update your understanding of operational costs, explore cost-saving measures, and adapt to changes in technology and healthcare practices.

To effectively plan for the life cycle of your equipment, it is necessary to thoroughly understand the needs of your health system. Being able to accurately forecast maintenance costs, technological advancements, and skill development ensures optimal equipment utilization and efficient care delivery.

During this time, gain an understanding of the complexities within life cycle planning and break down ways in which better forecasting can lead to a much more efficient operation.

Learning Objectives:

1. Formulate Lifecycle planning process by understanding and assessing the specific requirements of the healthcare facility.

2. Build appropriate budgets for equipment purchase and ownership costs. Understand the total cost of ownership (TCO), including not only the initial purchase but also ongoing expenses like maintenance and repairs.

3. Learn how to assess and select equipment that aligns with the lifecycle plan. Identify step necessary specifications and explore options for procurement and logistics.

4. Explore the practical aspects of how daily operation and end user requirements play a crucial role in lifecycle planning.

Through an evidence-based, systematic approach to viewing capital equipment, technology, and services, healthcare value analysis contributes greatly to seeing optimal patient outcomes. In the capital process, value analysis allows multidisciplinary stakeholders to manage both planning and procurement within health systems.

In this session, explore ways that value analysis principles can be useful in the predesign and renovation phases of projects, in addition to analyzing potential benefits to having a value analysis mindset.

Learning Objectives:

1. Identify the challenges and benefits associated with value analysis in the capital process.

2. Explore the historical context of the capital process and recognize the need for value analysis.

3. Summarize the importance of value-based modeling for capital projects as opposed to price-based thinking when working with suppliers.

4. Identify how tried-and-true value analysis processes of evaluating long value and costs contributes to the capital process.

In an effort to increase training, procurement, and life cycle management efficiency, medical equipment standardization significantly reduces the number of suppliers and equipment models. Due to this, space within the hospital can be reclaimed for other uses. When equipment is standardized, clinical engineers become familiar with specific models, ultimately leading to faster maintenance, minimizing downtime.

Join us in this session as industry leaders break down standardization and its potential impact on your organization, if implemented effectively.

Learning Objectives:

1. Understand concept of standardization, by defining what medical equipment standardization entails.

2. Differentiate benefits of standardization by determining the advantages of standardizing medical equipment.

3. Discuss how standardization impacts patient safety, cost-effectiveness, staff satisfaction and overall efficiency.

4. Endorse the need for innovation alongside standardization by exploring ways to incorporate new technologies.