Controlling and Managing the Capital Equipment Process

Content Areas: Procurement | Tags: Asset Management, Capital Equipment, Construction, Contracting, Suppliers | Formats: Event
Member Price: Free | Non-Member Price: $99 | CPE Credit: 1
12:00 - 1:00 pm CST

Often, purchasing is simply told to “cut an order” after a department has won budgetary approval for a new capital expenditure. When purchasing is involved at the start of the process, it can lead to better value outcomes as well as improved customer experience at the department level.

This AHRMM webinar presents ways to develop internal controls and accountability for purchases of new and replacement capital equipment, along with additional capital expenditures. 

John Strong will cover 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. In addition, Strong will present 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.

This session places purchasing professionals in the driver’s seat, and gives them accountability for results of purchases from price and terms, to installation and other considerations. 

Learning Objectives

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

How this session relates to AHRMM's Cost, Quality and Outcomes (CQO) Movement:

  • Cost: This session will review and discuss ways to bring value (up to 10% or more) from carefully negotiated terms and conditions, as well as Total Cost of Ownership (TCO) principles. 
  • Quality: 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.
  • Outcomes: Improved processes will result in better outcomes, by selecting the capital that best serves the patient. 

Target Audience:

  • directors of purchasing & supply chain management
  • department leaders responsible for capital budgets
  • controllers and other finance staff charged with acquiring capital equipment

Related AHRMM Resources for those Interested in Procurement:

Presenter: John Strong , MBA, Co-Founder and Chief Consulting Officer, Access Strategy Partners Inc.