Press Release: CMEPP Saves Canadian Hospitals Over $2M for Fourth Consecutive Year

 

CMEPP Saves Canadian Hospitals Over $2M for Fourth Consecutive Year

 Savings from smarter healthcare equipment servicing and repairs reinvested in patient care

 TORONTO – September 3, 2019 – Canadian Medical Equipment Protection Plan (CMEPP), Canada’s only not-for-profit organization dedicated to managing healthcare equipment service contracts, is pleased to announce that it has saved its member hospitals over $2.2 million dollars in the 2018-2019 fiscal year. This is the fourth consecutive year that CMEPP has returned over $2 million dollars in savings back to its members. The program has returned over $42 million dollars in cumulative savings to hospitals since its inception in 1996.

According to Nils Clausen, General Manager, CMEPP, the last fiscal year was another extremely positive year for the organization, with the addition of many large hospitals and health systems. He states:

“Increasing costs coupled with budget reductions are challenging hospitals to find more innovative and forward-thinking ways to maintain their medical equipment without negatively impacting quality of patient care. While some full-service contracts are a convenient and hassle-free way to maintain equipment, they may not be the most cost effective. Many hospitals are overpaying for services without realizing it. We are honoured to serve as a trusted partner to help hospitals derive savings from effective medial equipment service solutions. By eliminating unnecessary expenses, CMEPP members are able to deliver continued high-quality care at a lower cost, which is imperative in today’s healthcare environment.”

The CMEPP community currently comprises 49 hospitals, including provincial lab and diagnostic imaging across Manitoba through Shared Health. In addition, CMEPP works closely with its service supplier network to achieve operational efficiencies resulting in positive financial outcomes for their businesses. Through CMEPP, service suppliers have agreed to take an active role in ensuring that periodic maintenance for medical equipment is performed on an annual basis.

As the healthcare field has evolved over the past two decades, CMEPP has evolved as well, continuously growing its services to meet the changing needs of its hospital members. Hospitals today require access to accurate and timely data on which to base decisions. In response to this need, CMEPP will be introducing a new information technology (IT) solution that will help streamline many processes and allow members to access their equipment data in real time.

“CMEPP participants have voiced that periodic maintenance is an important component to maintaining the overall functionality and performance of equipment,” said Clausen. “Routine equipment check ups can help uncover issues before they become major problems, limiting equipment downtime and potential patient wait times.”

As the number of CMEPP participants continues to grow, so does the reduction in overall costs and subsequent savings for all participants. To learn how your hospital can reduce equipment maintenance costs through CMEPP, contact: tel: 1-833-78-CMEPP (26377) or email: info@cmepp.com

About CMEPP

CMEPP is Canada’s only not-for-profit organization dedicated to driving hard dollar savings for healthcare organizations related to medical equipment service contracts. CMEPP’s flexible approach solves clients’ most challenging issues and delivers hard dollar savings that can be reinvested in patient care. CMEPP is located in Toronto, Ontario. For more information, please visit: https://www.cmepp.com.

Media Contact:
Vishal Pua, CMEPP
647-405-3015
vpua@cmepp.com

Top 5 Reasons Preventative Maintenance (PM’s) Should be Done

Just like everything else in life, your car, your house, even yourself, regular maintenance is required to ensure everything is operating as it should be.

This becomes even more critical for medical equipment, because these devices are used to provide quality care to patients. While recommended by OEMs, our data has indicated that the required number of PMs are not always being completed on an annual basis for multiple devices across Canadian hospitals.

The following are our top 5 reasons for why PMs should be done:

1. Ensures optimal performance
The best way to know if your equipment is operating the way it was designed to is with periodic checkups that ensure it is meeting performance and safety specifications.

2. Helps ensure patient safety
This is a no brainer. The last thing you want to happen is for a medical decision to be made from a device that is out of calibration or is providing wrong information.

3. Increases patient throughput
Also a no brainer. The longer the equipment is functioning, the more patients can be helped.

4. Reduces downtime
When a device breaks down, waiting for parts and service can sometimes take a long time. Periodic checkups can significantly reduce major delays in providing patient care.

5. Increases equipment longevity
Medical equipment is extremely expensive. With budget reductions and cost-cutting policies playing a greater role in healthcare department budgets, proactively keeping devices running at their optimum performance reduces the possibility of a device from going out-of-service

How CMEPP Can Help?

We are changing the way PM scheduling is currently being done, so that hospital staff can focus more on patient care. Through the CMEPP program, you can be assured that PM’s are being scheduled and completed as required.

For more information, please contact us!

Email: info@cmepp.com

Phone: 1-833-78-CMEPP (26377)

PRESS RELEASE: CMEPP Saves Canadian Hospitals Over $2M for the Third Year in a Row, $40M to Date

Link to official release

TORONTO – September 27, 2018 – Canada’s only not-for-profit organization dedicated to managing healthcare equipment service contracts, Canadian Medical Equipment Protection Plan (CMEPP), is pleased to announce that over $2.1 million dollars has been saved for hospitals in the 2017-2018 fiscal year. This is the third consecutive year that CMEPP has returned over $2 million dollars in savings back to hospitals. Also, the program has returned over $40 million dollars in cumulative savings to hospitals since its inception in 1996.

According to Nils Clausen, General Manager, CMEPP, 2017 was an extremely positive year for the organization, with the addition of many large hospitals and health systems. He states:

“These institutions are representative of the innovative and forward thinking needed to drive positive change in Canadian healthcare. We are honoured to serve as a partner in these efforts by helping them derive savings from their medical equipment service contracts. By removing unnecessary spending, CMEPP members are delivering high quality care at a lower cost, which is imperative in today’s healthcare environment.”

In order to support its member hospitals, CMEPP has begun working more closely with shared service organizations (SSO) and group purchasing organizations (GPO). Having similar goals and objectives, the more these organizations can work together, the more savings can be achieved and passed onto hospitals.

In addition, CMEPP works closely with its service supplier network to achieve operational efficiencies resulting in positive financial outcomes for their businesses. CMEPP ensures all of its service suppliers uphold an acceptable level of quality of service sufficient to meet hospital requirements.

“Collaboration, open communication, and transparent information sharing enables better decision making in healthcare,” said Clausen. “All stakeholders must work together to drive out costs not only for their own organizations, but for the industry as a whole. We are all in this together and at the end of the day we are all committed to the same goal – delivering to patients the high quality and financially responsible care that they expect and deserve.”

As the number of CMEPP participants continues to grow, so does the reduction in overall costs and subsequent savings for all participants. To learn how your hospital can reduce equipment maintenance costs through CMEPP, contact: tel: 416-730-3017 or email: info@cmepp.com

 

About CMEPP

CMEPP is a hospital member shared service organization dedicated to driving hard dollar savings for healthcare organizations related to medical equipment service contracts. As a not-for-profit organization, CMEPP is owned and governed by its hospital members, all profits are returned back to the hospitals at the end of the financial year. CMEPP’s flexible approach solves clients’ most challenging issues and delivers hard dollar savings that can be reinvested in patient care. CMEPP is located in Toronto, Ontario. For more information, please visit: https://www.cmepp.com.

Top 10 Reasons for Joining CMEPP

CMEPP is a Not-For-Profit organization that helps hospitals save money through effective management of medical equipment service contracts. We are governed by our hospital Participants within the program.

Our unique model allows us to work with service suppliers to provide the most value for our Participants. Our expertise and knowledge in medical equipment service contracts allows us to provide savings to hospitals and valuable information to Group Purchasing and Shared Services Organization across Canada.    

Here are the Top 10 Reasons for Joining CMEPP:

Upfront Cost Savings

Participants can see immediate savings

Predictable Budget

You can better plan the cost of service for the year

Options That Meet Your Needs

Make cost-effective decisions that saves money

Savings Returned To You

If service is not needed, money is returned to you

Shared Risk Model

The program protects you from unexpected costs

No Change in Business Process

There is little to no change in your current workflow 

Improved Supplier Relations

If there is an issue, we can help find a solution

Capped Contribution

Your contribution is predetermined for the year

Focus On Patient Care

We do the admin work, including payment to vendors

Easily Add/Remove Equipment

You can add or remove equipment at any time. There are no fees or penalities

Ready to join or not quite sure yet?

Why not visit our contact page, we would love to chat with you!

PRESS RELEASE: CMEPP Saves Hospitals Over $2.5M in 2017 Through Smarter Healthcare Equipment Servicing and Repairs

TORONTO – November 6, 2017- Canada’s only not-for-profit organization dedicated to managing healthcare equipment service contracts, Canadian Medical Equipment Protection Plan (CMEPP), is pleased to announce that over $2.5 million dollars has been saved for hospitals in the 2016-2017 fiscal year. This is also the 20th consecutive year the program has delivered a surplus to its hospitals (Participants), with over $37 million dollars in cumulative savings returned to hospitals since 1996.

Since April 2016, eight new hospitals have joined the program with more hospitals looking to come onboard. CMEPP’s General Manager, Nils Clausen, explains how the organization’s proven ability to help hospitals better manage and maintain their valuable medical equipment assets, and reduce costs at the same time, has generated growing interest from Canadian healthcare organizations seeking to deliver greater value to their patients.

“Through our program hospitals are making more efficient choices with their budgets without sacrificing the quality of patient care,” said Clausen. “Based on input from our Participants, and increasing market demand for our services, we are expanding our current offerings and developing new solutions that will deliver even greater efficiency and cost savings.”

When a healthcare organization joins CMEPP as a Participant and their equipment has been identified, they pay a capped contribution amount for their service needs representing a significant upfront savings. Within the parameters of the not-for-profit model, CMEPP creates an aggregate shared pool of funds for all Participant service repairs. The result is hard dollar savings in annual repair costs and at the end of the service term, excess savings are returned to Participants.

CMEPP is currently developing processes to streamline workflow and communication between hospitals and service suppliers with the focus of ensuring equipment is serviced to Participant expectations. As the number of CMEPP Participants increases, so does the reduction in overall costs and subsequent savings for all Participants. To learn how your hospital can drive down equipment maintenance costs through CMEPP, contact: tel: 416-730-3017 or email: info@cmepp.com

About CMEPP

CMEPP is Canada’s only not-for-profit organization dedicated to taking the pain out of managing medical equipment service contracts. CMEPP's flexible approach solves clients’ most challenging issues and delivers hard dollar savings that can be reinvested in patient care. CMEPP is located in Toronto, Ontario. For more information, please visit: https://www.cmepp.com.

Official Press Release: http://www.newswire.ca/en/releases/archive/November2017/06/c1854.html