Finding your ROI - A New Frontier in Procurement

Larry Siebs, President and CEO, Shared Imaging

Today, we face a US healthcare market in flux due to population changes, rising consumerism, and a volatile political climate. Emerging payer steerage movements, like Anthem’s decision to stop covering MRIs and CT scans performed in hospitals on an outpatient basis, causes a highly unpredictable market for imaging services. As a result, many providers are forced to seek asset procurement strategies that minimize a financial risk.

Today, we face a US healthcare market in flux due to population changes, rising consumerism, and a volatile political climate. Emerging payer steerage movements, like Anthem’s decision to stop covering MRIs and CT scans performed in hospitals on an outpatient basis, causes a highly unpredictable market for imaging services. As a result, many providers are forced to seek asset procurement strategies that minimize a financial risk.

SAVE ME A THUMB DRIVE!

Stop by AHRA booth #926 in Orlando to pick up a preloaded thumb drive containing our NPV eBook and toolkit – and, meet our team to learn how Shared Imaging can provide an imaging solution that fits your needs. Complete the information below and we’ll be sure to save one for you – they go fast!

2018 AHRA Thumb Drive
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Advancements in technology are necessitating upgrades. New regulations are rendering technology obsolete. Rapidly aging populations are altering imaging volumes dramatically. These changes have become risks and are narrowing the planning periods for capital-intensive diagnostic imaging technology. Add in declining reimbursements, and it becomes increasingly difficult to keep pace with the technology needs of your radiology department with declining capital budgets. Healthcare administrators are being forced to reevaluate procurement options as an outright purchase is no longer guaranteed to be the most cost-efficient option for keeping in stride with market changes.

The question becomes, how can you – healthcare administrators – determine the most cost-effective procurement option of diagnostic imaging technology in an evolving market?

The answer is: Net Present Value (NPV) comparative cost analysis.

In planning and budgeting capital projects, hospital administrators can apply the objective NPV cost analysis to all procurement options and determine which option is the least costly over a planning period. NPV of ALL procurement choices – lease, purchase, or a functional service option – should be first calculated then weighed against each other to make the most cost-effective decision that meets the needs for your facility and patient population.

Join me for my upcoming breakout session* at the AHRA 2018 Annual Meeting, “Finding your ROI – A New Frontier in Procurement,” on Tuesday, July 24th at 8:15 AM to better understand and analyze your diagnostic imaging procurement options, as well as their financial short term and long term implications.

By providing you with the tools you need to make an objective procurement decision for your next imaging project, we make it easy for you to create  a business case catered to the financial considerations of your organization’s stakeholders and ensure you’re more than prepared for your budgeting next meeting.

*Special guest speakers David Waldron, CEO of Traction Business Development, LLC