Reducing Costs and Environmental Impacts to Health Care through a Total Cost of Ownership Calculator

By AHRMM

AHRMM Webinar Image

 

Price: Member: FREE  |  Non-Member: $99.00

CEC Hours: 1

Order Webinar

 

Description:

Tremendous cost pressures within the U.S. health care system are forcing providers to explore alternative ways to save money. Additionally, many medical devices have hidden costs that are not always reflected in the purchase price. To reduce these costs and associated impacts, the total cost of ownership (TCO) of a product or service should be included during purchasing decisions to assess the full cost to an organization. These direct organizational costs include utility, labor, maintenance, and waste disposal. To address this need, a TCO calculator has been developed to provide purchasers with a standardized and systematic way to consider the various use and waste costs of products that are procured.

Partnering with Trucost, Practice Greenhealth worked collaboratively with hospitals and health systems, suppliers, and GPOs to build, test, and now deploy this tool. This webinar demonstrates the tool’s basic functions and shares resources available to support its use.

 

Learning Objectives:
  • State the business case for including a Total Cost of Ownership (TCO) evaluation in the purchasing process for medical products.
  • Observe how the TCO tool provides an easy and standardized method to calculate total costs to healthcare to inform purchasing decisions.
  • Calculate the savings and outcomes from case studies.
  • List submerged cost areas that impact the total cost to your organization.

 

Presenter:
  • Andrew Madden — Senior Director of Supply Chain, Dana Farber Cancer Institute
  • Beth Eckl — Director of Environmental Purchasing, Practice Greenhealth

 

Related Resources

On-Demand Educational Webinars
How to assess the total procedural value through a clinical and economic lens.
On-Demand Educational Webinars
Consider how the four emerging themes on purchased services and their leading practices can deliver improved margins.
On-Demand Educational Webinars
Are you winning the battle against rising purchased services costs and surviving financially in a post-COVID environment?
On-Demand Educational Webinars
Achieve cost savings through methods to increase clinical buy-in and adherence to supply chain decision. while maintaining a focus on clinical…
e-Learning
Updated for 2020! Begin your studies of the Supply Chain Management and Finance relationship portion within the CMRP examination with a new…
On-Demand Educational Webinars
Health care supply chain leaders discuss methods to reduce the impact of demand surges and supply shortages due to unexpected events. A three-part…