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“My sole job here is to save this organization money.” Roger Larkin, Administrative Director for Supply Chain at Maury Regional Health.
In today’s uncertain regulatory and reimbursement environment, such a mentality goes beyond just supply chain leaders. CFO’s and CEO’s talking about the need to save money and create new revenue streams are regular Modern Healthcare headlines.
One simple way for a hospital to create new revenue is to sell idle or under-used equipment. Cottage Health just made $7,500 selling a Philips imaging camera on the OpenMarkets platform last month. For the Santa Monica, CA hospital, this money is now available to buy new equipment.
When savings is main goal, evaluating refurbished options alongside new equipment is a smart strategy. Madison Memorial Hospital in Idaho did just this, using The OpenMarkets ExchangeTM to seamlessly evaluate multiple refurbished sterilizer options. This saved tens of thousands of dollars for the hospital, and led to C-Suite commendation for supply chain director Jim Moss.
If you’d like to access the secondary equipment market to buy refurbished equipment or sell idle assets, simply visit preowned.openmarketshealth.com.