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Monday, October 5, 2015

Webinar Highlights - 3 Great Ways To Take Advantage of Year-End Savings

If you couldn’t join the latest installment of Miga’s webinar series, “3 Great Ways To Take Advantage of Year-End Savings,” here’s a quick summary and how to catch up.*

3 Great Ways to Take Advantage of Year-End Savings
This month Peter Robson emphasized that there are savings available at year end. To maximize these savings you need to understand OEM motivations and know the right questions to ask.

The three tips shared for taking advantage of year-end savings include:

1. Leverage OEM Help to Get Year-End Deals – OEMs are often motivated to close deals at year end driven by sales goals, public company obligations to shareholders, excess inventory positions, etc. Knowing what to ask will help you uncover savings. One of Miga’s clients was able to save 16% by simply asking their sales representative to bundle the purchase of two ultrasounds at year end.

2. Use Surplus (or Shortfall) Money Aggressively – Take advantage of the “use it or lose it” policy your hospital might have regarding its surplus budget. If you have surplus money to spend at the end of the year, there are many ways to use it wisely, e.g. moving up planned purchases and service costs for next year, buying pre-owned to supplement fleets, or pre-paying for de-installations or service costs.  As an example, one of Miga’s clients saved $160,000 by using surplus money to buy refurbished stretchers to supplement an existing fleet as opposed to buying new stretchers the following year.
3. Maximize value of old equipment – Knowing what equipment is worth at the end of the year can save your hospital a lot of money in the long run. Redeploying idle equipment to other parts of a health system can save a tremendous amount in avoided purchase costs.  One of Miga’s clients recently saved $350,000 in avoided costs by redeploying an existing surgical navigation system to another site within the health system!
By using these three methods, hospitals will be able to effectively take advantage of year-end savings.

Contact Us Today
*If you would like a copy of the presentation, "3 Great Ways To Take Advantage of Year-End Savings," or if you want to schedule a separate viewing, please reply to this email or call 866-55-MIGA (6442). 

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