MGMA Insights: Navigating Strategic Medical Equipment Acquisition
Download MP3In this episode of the MGMA Insights Podcast, host Daniel Williams sits down with Les Jebson, Regional Administrator at Prisma Health, to unpack the critical challenge of medical equipment acquisition. Jebson brings a wealth of experience from both private and academic healthcare settings, offering medical practice leaders a comprehensive guide to making informed decisions about purchasing, leasing, or renting medical equipment. The conversation explores the financial, strategic, and compliance considerations that can make or break a medical practice's technology investments.
Key Takeaways:
Key Takeaways:
- Value Proposition is Paramount
Les emphasizes the importance of objectively evaluating equipment based on:
- Clinical necessity
- Potential revenue generation
- Anticipated lifespan of technology
- Alignment with current and future practice needs
- Strategic Acquisition Strategies
Recommended approach for medical practices:
- Define capital equipment clearly
- Consider pros and cons of purchasing vs. leasing
- Implement 4-year replacement cycles for most technology
- Explore lease-to-own options for capital-constrained practices
- Compliance and Risk Mitigation
Critical considerations for consumable agreements:
- Avoid inducement-based contracts
- Ensure fair market value
- Vet agreements through legal counsel
- Track historical consumption trends
- Recommended Next Steps for Practice Leaders:
- Conduct a comprehensive audit of current medical equipment
- Develop a strategic technology replacement timeline
- Create a cross-functional team for equipment acquisition decisions
- Establish clear criteria for evaluating new technology investments
Upcoming Events:
- 2025 MGMA Financial Conference (April 14) - Register Here
- 2025 MGMA Summit (June 3-5) - Register Here
- Visit the Prisma Health website
