The primary objective for hospitals is to provide high-quality patient care, increase efficiency, and reduce costs. On average, hospitals spend more than $26k a year on perfusion-related capital equipment service contracts. With a capital purchase or lease, your hospital can simplify maintenance and avoid significant financial drain.
What is Capital Equipment?
Capital equipment is used by an organization to produce other commodities or services. Various factors determine if an item constitutes as capital equipment which includes:
- Its acquisition cost values at $5,000 or more
- It’s non-disposable and has a lifespan of at least a year
- It’s a stand-alone item and not part of a larger equipment
- It qualifies as personal property and can be appraised for value
If a piece of equipment adds value or extends the lifespan of an existing piece of equipment, the new piece is considered capital equipment regardless of whether it cost $5,000 or more.
Capital Lease vs. Capital Purchase
A capital lease is when a hospital rents medical equipment for a certain period of time. They’ll usually pay a monthly fee, and at the end of the rental period, the hospital can decide if they want to continue leasing or purchase the equipment. Capital leases are often a good choice if the equipment is only needed for a specific purpose or a short amount of time. Also, a capital lease allows hospitals to remain at a competitive edge. With ever-evolving equipment, leasing lends the advantage of always staying up-to-date with the newest, cutting-edge equipment. A capital lease not only significantly reduces costs but continually improves patient outcomes. On the contrary, a capital purchase is when a hospital buys the equipment up front and has complete control over managing it.
Save on Capital Equipment Acquisition and Maintenance
As the nation’s largest provider of perfusion services, SpecialtyCare brings unmatched depth and breadth of experience in evaluating, purchasing, and using perfusion-related capital equipment. Some of our hospital partners save over $500K in capital equipment purchases by leasing equipment from us instead. We work with each hospital to ensure their preferences are met in regard to brand and model preference.
Because we partner with more than 1,100 hospitals, we can help customize solutions to meet your hospital’s unique needs. For instance:
- We can retrofit current pumps to prolong their potential usefulness.
- We can replace a heart-lung machine (HLM) with a new one and retrofit another for backup.
- We can replace multiple HLMs with new equipment.
- Autotransfusion machines can be placed under a usage agreement depending on open heart volume and non-open heart ATS case volume.
Our clinicians are backed by a biomedical engineering team that ensures equipment purchased or leased through SpecialtyCare is maintained at the highest level and in compliance with technical infrastructure standards for our hospital partners. The biomedical team coordinates the safety inspections per your hospital’s policies and procedures, and perfusionists are responsible for maintaining the operating checklist for the equipment. Our technicians are trained to service all perfusion or autotransfusion equipment, allowing for consolidation of multi-manufacturer contracts with corresponding cost savings and efficiencies.
Dedicated to Quality and Continued Performance Improvement
When you participate in our Consignment, Purchase or Lease Program, you’ll benefit from our dedication to quality and continued performance improvement. Our internal Pack Enhancement Committee (PEC) will review the outcomes from our procedures and offer suggestions on the clinical and economic performance of your capital and disposable equipment. Our unparalleled experience comes from performing over 65,000 open heart procedures per year and over 50,000 ATS procedures per year. If you’re ready to see how much of a difference our Consignment Program can make for your hospital, contact us today.
About SpecialtyCare
SpecialtyCare is dedicated to providing an exceptional patient experience, becoming the OR employer of choice, and leading the way in OR innovation. They do this through staffing operating rooms and providing the equipment needed for medical procedures.