Developing and Sustaining a Standardized Capital Replacement Plan Series

Publish Date: August 09, 2018 | Content Areas: Strategic Planning | Tags: Analytics, Asset Management, Capital Equipment, Strategic Sourcing | Formats: On-Demand Recording

Member Price: Free | Non-Member Price: $99
CPE Credit: 2
Duration: 120 mins.


Part 1: The Importance of Developing a Standardized Capital Replacement Plan

Capital equipment replacement planning is an activity many organizations engage in year after year. From ascertaining the current state of your equipment to prioritizing how funds will be spent, a standard process that includes gathering the data needed to determine priorities is crucial. In this webinar, we will outline a process of evaluating current equipment utilizing specific data elements and identifying where that data can be obtained. We will discuss and identify appropriate stakeholders as well as the roles and responsibilities required to develop a collaborative, system-wide plan.

Part 2: Ongoing Sustainment of a Standardized Capital Replacement Plan

Once a strategic capital replacement plan is in place, that plan must be managed appropriately and efficiently. Presenters of this webinar will discuss how to use data and planning results to prioritize and follow established guidelines to replace only the equipment that needs replacing. This presentation will provide the tools needed to quickly and accurately respond to ongoing requests for new equipment with solid data to support these requests or describe why it should not be prioritized.   

Learning Objectives

Part 1:

  • Outline the importance of logical multi-year capital strategic planning.
  • Identify team members/stakeholders and roles and responsibilities.
  • Describe the key components of a strong capital replacement strategy.

Part 2:

  • Identify the process to create and maintain a priority list of replacement medical equipment by modality.
  • Identify the components of a successful capital equipment replacement strategy along with a sample structure.
  • Describe the importance of continually updating data and how that is critical for success.

How this session relates to the Cost, Quality, and Outcomes (CQO) Movement: Standardizing a process for capital replacement planning will save time year after year when identifying replacement needs. Identifying the right stakeholders and using specific data elements to evaluate current equipment will improve the organizations ability to identify what truly needs replacing, thereby delivering bottom line savings to the organization.