The Difference Between Price and Strategy

(This is the third installment of a six-part series examining the role of clinical evidence in capital planning.)

Not every big-ticket item is truly strategic. If a device or equipment is a fixed asset with a defined life span, it will often be categorized and tracked as a capital expenditure in the financials, although it is usually not scrutinized or approved with the same rigor as equipment involved, however peripherally, in patient care. These technologies require a more investigative, cross-functional approach, and include:

  • Monitoring Technology: These devices measure and monitor respiration, cardiac function, blood pressure, and other indicators of health.
  • Diagnostic and Screening Technology: These technologies help caregivers better understand an organ system or the presentation of signs and symptoms, informing an eventual diagnosis.
  • Therapeutic Technology: This includes equipment and devices used to treat a specific disease or condition, like ventilators and defibrillators.
  • Hybrid Technologies: Typically, these are a combination of diagnostic and therapeutic technologies bundled into a single system. One example is a robotic surgery device with a real-time imaging component.

To access the white paper from which this post was extracted, please visit our website.

 

 

Winifred S. Hayes, Chief Executive Officer, Hayes

Winifred S. Hayes, founded Hayes, Inc., in 1989 and serves as its Chief Executive Officer.

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