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Robotics and robotic surgery are changing the way the healthcare industry operates. Ultimately robotics and robotic surgery help to improve the level of care you can provide to your patients. However, an issue many hospitals face is current offerings require large initial capital investments and have high recurring costs. The current cost per procedure, through robotic surgery, seems much higher at first glance when compared to the classic laparoscopic methods. However, when you take into account the total patient journey, these initial higher costs can create considerable savings.
Firstly, let's explore some of the key benefits of robotic technology and robotic surgery.
The range and scope of technologies uses, and applications of robotic surgery widens with each new entrant. These new entrants to the robotic surgery market are focused on improving value via lowering cost and improved quality, by addressing some of the perceived weaknesses of the current offerings, and at lower costs per procedure comparable to the cost of laparoscopic and open surgery interventions.
When hospitals want to benefit from these future cost savings and technology, they will need to explore new procurement methods that allow greater flexibility and transparency. Current classic funding and financing methods (like traditional loans or own cash investments) aren't necessarily the best route with regards to robotic technology. Hospitals need access to innovative financing concepts such as 'pay per use' (PPU) or 'managed equipment service' solutions (MES). These new models can provide hospitals with a complete overview of costs (including maintenance, training costs, support, consumables, etc.) while also providing the flexibility to upgrade their current equipment to the latest technology. Therefore, helping to maintain a consistent, future-proofed, high level of patient care - provided as a single, cost-effective solution.
How would a PPU or MES solution work for you, and what are the benefits of both solutions?
What is a PPU solution? Under this model, the overall cost of procuring and using the medical equipment is broken down by individual case of treatment by dividing the total cost of the solution by the pre-determined minimum number of uses.
How does it work? This solution works by agreeing to a minimum number of uses. The total cost is then divided by this figure to give you your cost of treatment. An example would be:
Total cost = £2,000,000
Minimum number of uses = 1,000
The individual cost of treatment = £2,000
What are the benefits?
“The machinery would usually cost in excess of £2 million and would have taken several years to raise the funds. It is exceedingly good news for future patients who will benefit from minimally invasive surgery with less pain and quicker recovery times. As of now, the robot has been in use for nearly 6 months, and a substantial number of patients have seen the benefits of it. CHG-MERIDIAN’s help has been greatly appreciated, and we could not have achieved the success that we have without their assistance.”
What is an MES solution? An MES solution allows you to benefit from the latest robotic technology with an always-on solution that includes a guaranteed equipment uptime, regular maintenance and equipment/consumable replacement for a known fixed monthly, quarterly or annual fee.
How does an MES work? With a Managed Equipment Service, the provider doesn't simply sell the robotic technology; they provide a full managed service for a fixed fee. Therefore, this managed service agreement ensures the replacement of equipment at given intervals, together with full maintenance and service packages, an asset management system to track both the equipment and its costs.
What are the benefits?
Science, medicine and healthcare technology is continuously evolving. If recent times have shown us anything, it's that we need to continually work towards future-proofing our healthcare facilities in order to be able to provide the best possible patient outcomes. Robotic technology is just one strand of healthcare technology that will be key in the years to come. Accessing and keeping this technology up to date will always be the challenge. For more information on robotic procurement and lifecycle solutions, please contact CHG-MERIDIAN today.
We'd love to hear from you. If you would like to find out more about our healthcare finance options, feel free to get in touch today.
Head of Healthcare UK & Ireland
Many thanks for your message to CHG-MERIDIAN.<br/>We will get back to you as soon as possible!