Equipment sharing: Is your Healthcare organization missing out on this cost-saving and revenue-generating idea?
Typically, “cost-saving” and “revenue-generating” aren’t uttered in the same breath. But, when equipment sharing is done right, that’s exactly the benefit to healthcare organizations.
The plain truth is, sharing not only offers cost savings, it can also support expanding care and increased revenue capture. And what healthcare organization isn’t looking for that?
By sharing equipment, providers can offer a wider variety of services at facilities throughout the system. Beyond that, equipment sharing helps leaders justify the purchase of new, high-tech devices because they can and will be utilized across multiple facilities.
Every hospital has a story about equipment being hoarded to guarantee staff has what they need when they need it. That is a good, and important goal, but there must be a better way to achieve it than hoarding. Providers that think of equipment as a shared system asset can improve patient experience and outcomes, while driving down cost.
Oh, and increase revenue capture in the meantime too.
Next week, healthcare executives from across the nation will gather at the HFMA Annual Conference (June 24-27) to look for ways to solve complex business issues facing healthcare. Our good friends from Cohealo, developers of technology that enables providers to optimize the use of their equipment across facilities, will be there. Check out their booth if you have time or if you would like to have a meeting, you can schedule it directly with their team.
Read my full blog post on this subject on Becker’s Hospital Review.