Holding the line: Capital Strategy for Rural and Independent Community Hospitals

Holding the line: Capital Strategy for Rural and Independent Community Hospitals

Today we're going to explore the current state of rural hospitals and independent community hospitals, many of which are navigating razor thin margins and rising capital costs. We'll talk about emerging policy support and how this may impact capital investment decisions.   Guests: Russell Hall VP, Independent Community Market Vizient   Rebecca Gayden Sr Principal, Capital Equipment Solutions Vizient   Host: Susan Edwards Product Marketing Manager Vizient   Show Notes: [01:40 – 3:27] State of the union when it comes to rural hospitals [03:27 – 04:09] The pressures being faced by rural and community hospitals and how that affects capital spend [04:09 – 04:46] The tradeoffs being made [04:46 – 6:27] How an independent hospital needs to prioritize [6:27 – 8:22] Rural health transformation funds [8:22 – 9:08] Following the money [9:08 – 13:41] Determining eligibility and other options [13:42 – 15:55] How we bridge the gap between strategy and action [15:55 – 17:57] The most effective use of dollars [17:57 – 19:10] Maximizing capital dollars [19:10 – 20:47] Additional levers and Group buys [20:47 – 24:11] What's ahead [24:11 – 25:42] Wrap up and suggestions   Subscribe Today! Apple Podcasts [https://podcasts.apple.com/us/podcast/the-capital-compass/id1814209174] Spotify [https://open.spotify.com/show/7BluKDVwVaEWjjJis3UV5D?si=dbfa2536049f4ed3] YouTube [https://www.youtube.com/playlist?list=PLpDgSWfqlKfgxqLG42wDdKV8g4PnoFk7e] RSS Feed [https://feed.podbean.com/thecapitalcompass/feed.xml]

The Capital Commit Program

Haphazard plans aren't really plans at all and when you are dealing with capital commitments that can range from thousands to hundreds of thousands of dollars In expense, the work you do BEFORE you spend Is as Important as the spend Itself. That's where Capital Commit comes In.    Guests:  Mahogany Laur  Program Services Manager  Vizient    Tammi Pegues  Program Services Director  Vizient    Host:  Susan Edwards  Product Marketing Manager  Vizient    Show Notes:   [00:45 – 05:08] What Is the capital commit program? What Is the history of It?  [05:08 – 08:04] The power of aggregation and the Ideal client.  [08:04 – 09:20] Utilizing leverage and commitment.  [09:20 – 12:10] Group buys and how commit Is different.  [12:10 – 14:52] How does the program support the suppliers? The power of Data.  [14:52 – 15:46] Price paid transparency.  [15:46 – 20:32] What Is the future of Capital Commit?  [20:32 – 22:37] Wrap up and suggestions     Subscribe Today! Apple Podcasts [https://podcasts.apple.com/us/podcast/the-capital-compass/id1814209174] Spotify [https://open.spotify.com/show/7BluKDVwVaEWjjJis3UV5D?si=dbfa2536049f4ed3] YouTube [https://www.youtube.com/playlist?list=PLpDgSWfqlKfgxqLG42wDdKV8g4PnoFk7e] RSS Feed [https://feed.podbean.com/thecapitalcompass/feed.xml]

Unlocking Value

Where is the true value in capital equipment procurements?  Capital purchases are often high-stakes decisions that require coordination between clinical, financial and operational teams. Listen In as we unlock the secrets to finding value within your capital expenditures.   Guest: Adam Fairbourn Sr. Director, Contract Services Vizient   Joni Swartz Sr. Director, Contract Services Vizient   Host: Susan Edwards Product Marketing Manager Vizient   Show Notes: [01:24 – 03:05] What makes capital equipment procurement unique? [03:05 – 05:30] Vizient's bid process explained. [05:30 – 07:13] How important is the total cost of ownership? [07:13 – 9:58] What value can be unlocked In the GPO national agreements. [9:58 – 12:17] Examples of how the framework Is put together. [12:17 – 13:39] What Is the value of unlocking a GPO? [13:39 – 14:58] How can smaller clients unlock the same value? [14:58 – 16:18] Are group buys available? [16:18 – 19:10] Unlocking value on a large scale. [19:10 – 21:45] Are there quick wins to be found? [21:45 – 23:05] Wrap up and suggestions   Subscribe Today! Apple Podcasts [https://podcasts.apple.com/us/podcast/the-capital-compass/id1814209174] Spotify [https://open.spotify.com/show/7BluKDVwVaEWjjJis3UV5D?si=dbfa2536049f4ed3] YouTube [https://www.youtube.com/playlist?list=PLpDgSWfqlKfgxqLG42wDdKV8g4PnoFk7e] RSS Feed [https://feed.podbean.com/thecapitalcompass/feed.xml]

Precision Equipment Planning Boosted by Vizient’s GPO

What makes medical equipment planning such a crucial part of the construction, expansion and renovation equation? When you think of construction costs, you can't limit yourself to thinking of bricks and drywall. There's way more to It. In this episode, we explore the costs associated with medical equipment and medical equipment planning so that you're better Informed when It comes time to renovate or build that new medical space.   Guest: Patrick Melone Associate Principal, Capital Equipment Solutions Vizient   Host: Susan Edwards Product Marketing Manager Vizient   Show Notes: [00:52 – 02:21] What's the big picture? Why Is medical equipment planning Important? [02:30 – 03:30] The hidden pitfalls of construction and expansion projects. [03:31 – 04:50] How do you now need to approach equipment planning with new developments in technology? [04:51 – 7:27] How does cyber security play into planning? [7:28 – 9:10] Where can cost overruns happen? [9:20 –10:45] The lifecycle of equipment. The total cost of ownership. [10:47 – 11:29] The Importance of terms and conditions. [11:27 – 12:24] Is sustainability a key decision-making element? [12:24 – 14:17] The Vizient difference. The value of the GPO. [14:17 – 16:34] How do we get a project to the finish line? [16:34 – 18:02] Budget management. [18:02 – 19:09] The role of medical equipment planning during the construction process. [19:09 – 19:56] The owner contractor architect meeting. [19:56 – 21:17] Key takeaways and things to think about. [21:17 – 22:15] Wrap up and suggestions   Subscribe Today! Apple Podcasts [https://podcasts.apple.com/us/podcast/the-capital-compass/id1814209174] Spotify [https://open.spotify.com/show/7BluKDVwVaEWjjJis3UV5D?si=dbfa2536049f4ed3] YouTube [https://www.youtube.com/playlist?list=PLpDgSWfqlKfgxqLG42wDdKV8g4PnoFk7e] RSS Feed [https://feed.podbean.com/thecapitalcompass/feed.xml]

Total Cost of Ownership

What is the true cost of ownership when it comes to medical equipment? When you think of capital spending, ownership costs can become very configurable from the standpoint that everyone has different systems, tools and methods to arrive at a base value. That's why Vizient has put tools in place that allow for a certain amount of standardization and consistency, essentially leveling the field when it comes to ownership costs and strategies.   Guest: Danny Cisneros Sr. Consulting Director Vizient   Host: Susan Edwards Product Marketing Manager Vizient   Show Notes: [00:46 – 03:15] What Is total cost of ownership? What Is Its history? [03:15 – 04:13] The science behind "unbundling" of equipment costs [04:13 – 08:20] How does the cost of ownership Impact expansion? [08:20 – 10:22] The approach to consolidating people and resources [10:22 – 12:28] Unbundling and the lifecycle of equipment [12:28 – 13:44] Finding the hidden costs and working over time [13:44 – 15:27] Assets advice for organizations [15:27 – 16:22] Balancing needs and outcomes for the ASC's [16:22 – 19:07] Real life examples and how to respond [19:07 – 21:15] Does everyone face the same challenges and what Is It about capital equipment that adds to the complexity of the Issue? [21:15 – 22:12] Terminology [22:12 – 23:44] Wrap up and suggestions   Links | Resources: CES Case Studies [https://vizientinc-my.sharepoint.com/:b:/p/corey_doss/EUIsGQshgUFEhH64ReVFIr0BGOUF_G_IViYZu2NpYWNcvg?e=HcEZ9o]   Subscribe Today! Apple Podcasts [https://podcasts.apple.com/us/podcast/the-capital-compass/id1814209174] Spotify [https://open.spotify.com/show/7BluKDVwVaEWjjJis3UV5D?si=dbfa2536049f4ed3] YouTube [https://www.youtube.com/playlist?list=PLpDgSWfqlKfgxqLG42wDdKV8g4PnoFk7e] RSS Feed [https://feed.podbean.com/thecapitalcompass/feed.xml]