Clinical Asset Management

TRANSFORMING THE VALUE OF YOUR CLINICAL ASSETS

Historically, clinical engineering and clinical asset management have been treated as distinctly separate functions within a provider. The division of these activities has led to significant issues in both cost and utilization performance. Today, most hospitals invest more than 25% of their annual capital budget on new and additional clinical assets. Yet, clinical assets in aggregate are utilized less than 50% of the time. In addition, over 90% of clinical assets are mobile and rarely generate utilization data.

TRIMEDX is combining technology-enabled, best-in-class clinical engineering with next-generation clinical asset management. As a result of this powerful combination, we are transforming clinical assets into a strategic lever for improving the overall performance of health systems – driving up profitability, reducing risk, improving patient satisfaction, and enabling clinician engagement.

The TRIMEDX Clinical Asset Planning Solution combines analytics, proprietary benchmarking, and dedicated resources to forecast device replacement priorities, timing, and cost. Our onsite manager actively serves on the health system’s capital planning committee to help optimize clinical asset planning. The TRIMEDX clinical asset data warehouse includes objective data that captures all aspects of preventative maintenance, service, technology, cybersecurity, utilization, and expected useful life. Our data leverages information on millions of devices to deliver benchmarks and strategic planning scenarios.

Key Capabilities
  • Clinical Asset Replacement Plan: Our proprietary algorithm evaluates clinical assets for replacement using performance benchmarks that are adjusted for depreciable life, operational criticality and regulatory risk. In addition, our proactive asset replacement forecast allows you to predict your asset replacement cost year over year.
  • Capital Planning Playbook: We deliver a comprehensive, annual report highlighting asset performance and replacement insights to enable smarter capital planning.
  • Capital Committee Support: Our team supports environment-of-care and multidisciplinary teams to provide an objective view of your clinical asset performance and needs.

Benefits

  • Optimization of capital spending on clinical assets, improving the overall return on capital.
  • Objective planning combined with best-in-class clinical engineering to extend the useful life of equipment.
  • Deferred capital expenses to invest in alternative health system priorities.
  • A more predictable clinical asset capital budget.
  • Unbiased, data-driven decisions.
57-60 %

Improvement in Objective Mobile
Clinical Asset Cleanliness

47-50 %

Increase in Nursing Satisfaction

72-75 %

Reduction in Nursing Time Spent Searching For and Cleaning Equipment

Building on an optimized total cost of ownership delivered through our Clinical Engineering program, the TRIMEDX Asset Lifecycle Management solution identifies the optimal time for asset retirement and disposition based on performance, cost, and other available assets in your total inventory. TRIMEDX Marketplace Services facilitates the sale of used clinical assets to return the maximum value back to health systems. This comprehensive solution delivers dramatic returns in both operational cost reduction and capital deferment.

Key Capabilities
  • Asset Retirement Services: Optimized retirement prioritization based on the total cost of ownership, utilization, and service history.
  • Used Asset Marketplace: TRIMEDX brokerage service maximizes used asset value as an alternative to OEM trade-in values.
  • Benchmarking: Derived from the TRIMEDX data warehouse of millions of serviced clinical assets.

Benefits

  • Increased capital dollars returned to the health system through the maximum resale value of used assets.
  • Extended useful life of clinical equipment.
  • Lower total cost of ownership of clinical assets.

The TRIMEDX Asset Utilization Service is a technology-enabled solution to optimize asset utilization, workflow, cleanliness, and disposition of clinical assets. Through EMR integration and optional use of an existing real-time locating systems (RTLS), our Asset Utilization Service identifies opportunities to rebalance clinical asset inventory and locations, redeploying underutilized assets to areas of greater demand that, in turn, drives higher margins. Our software also captures utilization patterns to inform hospital leaders which equipment is actually being utilized versus sitting idle, both in patient rooms and storage locations.

Key Capabilities
  • Predictive Asset Utilization intelligence across all modalities.
  • RTLS data leveraged to provide optimized service delivery and value-added reporting (utilization, idle devices, insight to PAR level management).
  • Integration with EMR to capture procedure, financial, demographic, utilization, and connected device data to provide further insight into capital planning and optimization efforts.
  • Visualization of imaging asset procedure volume (demand) versus asset scheduling (capacity) to profile asset utilization.
  • Leveraging data analytics, based on historical trends and analysis, to forecast future asset demand versus capacity.
  • Mobile Medical Equipment Management including rounding to pick up dirty equipment, returning clean equipment to clean rooms in each department, ensuring PAR levels
  • OEM-standard equipment cleaning and sterilization.
  • Inventory of equipment type, location, and utilization.
  • Optimization of inventory and rental levels, ensuring equipment availability.

Benefits

  • Reduce/redeploy excess equipment based on relative utilization, reducing, Capital Expense and Operational Expense.
  • Avoidance of capital expenditure for which there is existing capacity, freeing up capital for other priorities.
  • Increase equipment profitability by identifying opportunities for more effective utilization.
  • Improve nursing satisfaction and clinician engagement.
  • Reduce time away from the patient bedside by reducing time spent searching for equipment.

CLIENT RESULTS

TRIMEDX serves 3,700+ hospital locations across 43 states. Our expertly trained clinical engineers manage millions of devices on a daily basis representing clinical assets of all kinds, for multiple manufacturers. See why leading health systems in the U.S. depend on TRIMEDX.

$49M Annual CapEx Deferral
55.6% Increase in Equipment Utilization in 6 Months

Through our best-in-class preventative maintenance and repairs, we extended the useful life of clinical assets, resulting in significant CapEx cost deferral that otherwise would have been spent on purchasing replacement clinical equipment. By freeing up capital for other health system strategic priorities, TRIMEDX clinical asset management services transform how health systems are managing their clinical assets.

Through our next-generation clinical asset informatics, we were able to rapidly identify under-utilized equipment at this 3-hospital system, and subsequently, improve device utilization by 55.6% over 6 months.

View All Case Studies

“TRIMEDX gives me real-time data on the utilization of my clinical assets. This has transformed our understanding of our overall clinical asset needs and planning.”

– Chief Operating Officer, 13-Hospital System

  • WHITE PAPER

    REDUCING OPERATIONAL AND CAPITAL EXPENSES BY MOVING UP THE CLINICAL ASSET MATURITY CURVE

    Many hospital and health system leaders neglect their greatest savings opportunity: clinical assets — the medical equipment you own, service and continue to buy, even as the demand for inpatient care dwindles. In this white paper, you will learn the benefits of moving up the clinical asset maturity curve.

Trimedx In The News

A Day in the Life: TriMedX-Ascension Borgess Health

September 4, 2019 Most people don’t equate “family” with “work,” but the TRIMEDX clinical engineering team at Michigan’s Ascension Borgess Health doesn’t fit into most categories. Below, Angela Ferguson-Bennett, Ascension…

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FOR YOUR HEALTH SYSTEM

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