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: firstname.lastname@example.org
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.
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:
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: email@example.com
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