Understanding the Impact of Consumable Costs that Exceed their Capital Investments
RN Clinical Analyst
Maria C. Hernandez, MBA, BSMT (ASCP)
Kathey Leibold, RRT
Senior Clinical Analyst
While capital outlay represents a large percentage of upfront costs associated with a new technology, there are other expenditures –labor, overhead, consumables, and service –to consider when projecting true costs. This is especially true for technologies with greater consumable costs over time. For example, the consumable costs for sensors associated with pulse oximeters can easily reach hundreds of thousands of dollars annually.
The cost of the clinical laboratory market is even greater, with consumables representing a $7.8 billion annual U.S. market, dwarfing the capital side. Since 60% of consumable items fall into areas with a large impact on the cost per patient, it is more important for providers to consider the impact of consumables on the organization’s overall revenue.
This webinar takes an in-depth look at the associated consumable cost of popular capital items in the fields of laboratory, cardiology, respiratory, and nursing.
After This Webinar You’ll Be Able To:
- Understand the impact of consumables on your bottom line
- Know the most likely areas where consumable costs will exceed original capital outlay
- Understand the consumable market for the clinical laboratory, cardiology, respiratory and nursing fields
- Considerations when negotiating your consumable volume agreement
Tools & Takeaways
- Sample of a consumable contract review
- Break-even calculator for consumables
- Price breakdown for the top five most costly consumables
CFOs, materials managers, supply chain directors, laboratory departments (directors, managers, supervisors, senior techs, team leads), respiratory directors, revenue cycle managers, and purchasing departments
Field of Study
Specialized Knowledge and Applications
HFMA members: Free
Please note: This on-demand webinar is available until Sept. 24, 2014.