Managing and Reviewing Your Healthcare Product Portfolio
There are many advantages to conducting a regular and systematic review of your health care products portfolio.
Firstly, medical equipment — as is the case with any type of technology — is always evolving and improving. The medical equipment manufacturing sector is constantly looking for ways to incorporate new types of technology, assisting clinicians improve their ability to diagnose and treat patients. Reviewing your product list ensures that you are on top of the latest in equipment and devices.
In addition, regularly reviewing your portfolio provides you with the opportunity to dispose of equipment that you may not be using or has become obsolete, freeing up space and resources.
Finally, conducting a review is an excellent way of coming to an understanding as to the current value of your medical equipment, which is important for security and insurance purposes.
How to Review your Product Portfolio
There are many ways to carry out an equipment portfolio review. Regardless of the approach that your facility takes, the most important factor is arguably the frequency with which you conduct reviews. There is little point to auditing your resources on an ad-hoc basis.
The equipment management process is structured around the following steps:
- Recording equipment information: This can include reviewing your existing equipment and developing a system appropriate to maintain clear, useful equipment data.
- Planning to replace or upgrade equipment: This can include identifying gaps in your portfolio, coming up with possible solutions, and gathering information regarding costs and timelines.
- Acquiring equipment: This can include developing a procurement plan, deciding on a medical equipment provider, organising the purchase and delivery.
- Maintaining equipment: This crucial step enables you to get the most out of your recently purchased medical equipment and devices. Maintenance should be scheduled and recorded as part of the equipment management process.
Tips for Upgrading Medical Equipment
If, through the process of conducting your health care products review, you decide that it is time to upgrade your equipment, there are several factors that must be considered. Given the significant financial investment that medical equipment represents, you want to be certain that you have done your research and made the best decision possible by your clinicians and patients.
These factors include:
- Price: It goes without saying that medical equipment can be expensive. However, the quality of care that you can provide to patients sits in direct correlation to the quality of your healthcare equipment. By opting for more expensive equipment, you can be certain that you and providing your patients with the best chance possible of reaching a positive health outcome.
- Space: Depending on what type of equipment you are buying, medical devices can take up quite a bit of space. Before purchasing, check that you have enough room for your new equipment; this includes storage space.
- Usability: Depending on the type of equipment you purchase, your employees may require operational training. This in itself is not necessarily a problem. However, it’s important that you take this factor into consideration, plan appropriately, and ensure all of your employees are confident operating devices and equipment.
Choosing a Healthcare Product Provider
Choosing a healthcare product provider is not an easy task. After all, the health and wellbeing of your patients depends on your access to quality equipment.
Paragon Care is a leading supplier of healthcare equipment across a range of medical sectors. We offer equipment, devices, and consumables, alongside equipment repair and maintenance, giving our clients confidence that we are able to assist with all their healthcare needs.
If you believe it is time to re-evaluate your portfolio of health care products, contact Paragon Care today.