Videos
Healthy Healthcare System
Simon Walls, Managing Principal for GE Healthcare Asset Management Solutions, discusses inventory utilization as a measure of waste in the healthcare system.
Transcript:
Understanding your inventory and how it's maintained is the foundation for any decision you're going to make. Once you have that snapshot, look at how your inventory is being utilized.
Two parts to utilization: one is utilization can be assessed and then you can carve out waste, or utilization can be assessed and provide opportunity for incremental patient flow through those systems, those devices, whatever it may be. Once you have those two things in place, then start looking at what your future plans are, what your capital planning processes are, what your budgeting processes are, and how these things start providing the different levers you can... measure them all against the impact to your business on your operating expense and your capital expense.
That is the true metric at the end of the day. We have a large portfolio of clients we are working with, and we know that all of our clients are looking at ways to grow their businesses, to be more efficient, to be more effective. And many of them turn to GE to say, "How can we work with them?" So our strategy for us at management is to drive down their costs and help them be more productive.
Some would say, "I don't understand that, because if GE's a maintenance business, why would you be cannibalizing your business?" The reality is that if we do this, it's the right thing for our clients and it actually frees up capital to grow in the areas where they truly need to grow and take the waste out from the areas they don't need it. A healthy health care system is a good system for GE Healthcare to be a part of.
Transcript:
Understanding your inventory and how it's maintained is the foundation for any decision you're going to make. Once you have that snapshot, look at how your inventory is being utilized.
Two parts to utilization: one is utilization can be assessed and then you can carve out waste, or utilization can be assessed and provide opportunity for incremental patient flow through those systems, those devices, whatever it may be. Once you have those two things in place, then start looking at what your future plans are, what your capital planning processes are, what your budgeting processes are, and how these things start providing the different levers you can... measure them all against the impact to your business on your operating expense and your capital expense.
That is the true metric at the end of the day. We have a large portfolio of clients we are working with, and we know that all of our clients are looking at ways to grow their businesses, to be more efficient, to be more effective. And many of them turn to GE to say, "How can we work with them?" So our strategy for us at management is to drive down their costs and help them be more productive.
Some would say, "I don't understand that, because if GE's a maintenance business, why would you be cannibalizing your business?" The reality is that if we do this, it's the right thing for our clients and it actually frees up capital to grow in the areas where they truly need to grow and take the waste out from the areas they don't need it. A healthy health care system is a good system for GE Healthcare to be a part of.