Incorporating Common Sense Into Your Plan
With our baseline plan created, we can see the initial recommendations. If this is your first time putting together an asset plan I’d imagine that it’s recommending a good majority of the equipment be replaced immediately, and it’s okay!
The amount of projects can be overwhelming, review the plan in subcomponents.
Start by review the first three years of recommended replacements. Incorporate any priority of projects that you might already have for the next year. The hospital budget is already be complete for the current year and potentially the next year as well. We will need to start to push projects not already addressed in the hospital budget to later years in the plan.
Mobile systems are much easier to accept than fixed assets that need plans for room design and potentially construction. This is where knowledge of resourcing, construction, and implementation is particularly useful. Communicating with your project managers and biomedical engineers to understand how many projects they may be able to handle in any given year will be useful when deciding when a project should take place. Continue to review the plan year by year and ensure that the replacement plan is realistic. Keep your resources engaged throughout the process will be key to ensuring that the plan can be operational.
Assign an estimate the costs to replace each asset so we can begin to look at the economic impact of the plan. It’s important to consider equipment upgrades that can be made to extend the life of an asset. Reach out to equipment vendors to validate your assumptions or get better pricing. There are also numerous paid resources that can help you identify a sourcing price of equipment such as MD Buyline. Construction costs can also play a large role in the equipment as well, be sure to include this in your conversation with your project managers.
Annual budget can play a role, but don't immediately limit yourself to a fixed budget.
If there is significant need for investment in technology, there are options out there to be able to have access to the technology sooner, while paying for the assets over time. A common option is a lease, or lease to own. Many vendors have a financial company behind them and are willing to get creative meet all of your needs. The most recent trends include ‘as a service’ billing or risk sharing with vendors. Having the CFO engaged in these discussions is critical to understanding what is feasible for your organization.