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: email@example.com
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.