The Capital Compass

Today we're going to explore the current state of rural hospitals and independent community hospitals, many of which are navigating razor thin margins and rising capital costs. We'll talk about emerging policy support and how this may impact capital investment decisions.   Guests: Russell Hall VP, Independent Community Market Vizient   Rebecca Gayden Sr Principal, Capital Equipment Solutions Vizient   Host: Susan Edwards Product Marketing Manager Vizient   Show Notes: [01:40 – 3:27] State of the union when it comes to rural hospitals [03:27 – 04:09] The pressures being faced by rural and community hospitals and how that affects capital spend [04:09 – 04:46] The tradeoffs being made [04:46 – 6:27] How an independent hospital needs to prioritize [6:27 – 8:22] Rural health transformation funds [8:22 – 9:08] Following the money [9:08 – 13:41] Determining eligibility and other options [13:42 – 15:55] How we bridge the gap between strategy and action [15:55 – 17:57] The most effective use of dollars [17:57 – 19:10] Maximizing capital dollars [19:10 – 20:47] Additional levers and Group buys [20:47 – 24:11] What's ahead [24:11 – 25:42] Wrap up and suggestions   Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed  

Haphazard plans aren't really plans at all and when you are dealing with capital commitments that can range from thousands to hundreds of thousands of dollars In expense, the work you do BEFORE you spend Is as Important as the spend Itself. That's where Capital Commit comes In.    Guests:  Mahogany Laur  Program Services Manager  Vizient    Tammi Pegues  Program Services Director  Vizient    Host:  Susan Edwards  Product Marketing Manager  Vizient    Show Notes:   [00:45 – 05:08] What Is the capital commit program? What Is the history of It?  [05:08 – 08:04] The power of aggregation and the Ideal client.  [08:04 – 09:20] Utilizing leverage and commitment.  [09:20 – 12:10] Group buys and how commit Is different.  [12:10 – 14:52] How does the program support the suppliers? The power of Data.  [14:52 – 15:46] Price paid transparency.  [15:46 – 20:32] What Is the future of Capital Commit?  [20:32 – 22:37] Wrap up and suggestions     Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed

Where is the true value in capital equipment procurements?  Capital purchases are often high-stakes decisions that require coordination between clinical, financial and operational teams. Listen In as we unlock the secrets to finding value within your capital expenditures.   Guest: Adam Fairbourn Sr. Director, Contract Services Vizient   Joni Swartz Sr. Director, Contract Services Vizient   Host: Susan Edwards Product Marketing Manager Vizient   Show Notes: [01:24 – 03:05] What makes capital equipment procurement unique? [03:05 – 05:30] Vizient's bid process explained. [05:30 – 07:13] How important is the total cost of ownership? [07:13 – 9:58] What value can be unlocked In the GPO national agreements. [9:58 – 12:17] Examples of how the framework Is put together. [12:17 – 13:39] What Is the value of unlocking a GPO? [13:39 – 14:58] How can smaller clients unlock the same value? [14:58 – 16:18] Are group buys available? [16:18 – 19:10] Unlocking value on a large scale. [19:10 – 21:45] Are there quick wins to be found? [21:45 – 23:05] Wrap up and suggestions   Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed

What makes medical equipment planning such a crucial part of the construction, expansion and renovation equation? When you think of construction costs, you can't limit yourself to thinking of bricks and drywall. There's way more to It. In this episode, we explore the costs associated with medical equipment and medical equipment planning so that you're better Informed when It comes time to renovate or build that new medical space.   Guest: Patrick Melone Associate Principal, Capital Equipment Solutions Vizient   Host: Susan Edwards Product Marketing Manager Vizient   Show Notes: [00:52 – 02:21] What's the big picture? Why Is medical equipment planning Important? [02:30 – 03:30] The hidden pitfalls of construction and expansion projects. [03:31 – 04:50] How do you now need to approach equipment planning with new developments in technology? [04:51 – 7:27] How does cyber security play into planning? [7:28 – 9:10] Where can cost overruns happen? [9:20 –10:45] The lifecycle of equipment. The total cost of ownership. [10:47 – 11:29] The Importance of terms and conditions. [11:27 – 12:24] Is sustainability a key decision-making element? [12:24 – 14:17] The Vizient difference. The value of the GPO. [14:17 – 16:34] How do we get a project to the finish line? [16:34 – 18:02] Budget management. [18:02 – 19:09] The role of medical equipment planning during the construction process. [19:09 – 19:56] The owner contractor architect meeting. [19:56 – 21:17] Key takeaways and things to think about. [21:17 – 22:15] Wrap up and suggestions   Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed

What is the true cost of ownership when it comes to medical equipment? When you think of capital spending, ownership costs can become very configurable from the standpoint that everyone has different systems, tools and methods to arrive at a base value. That's why Vizient has put tools in place that allow for a certain amount of standardization and consistency, essentially leveling the field when it comes to ownership costs and strategies.   Guest: Danny Cisneros Sr. Consulting Director Vizient   Host: Susan Edwards Product Marketing Manager Vizient   Show Notes: [00:46 – 03:15] What Is total cost of ownership? What Is Its history? [03:15 – 04:13] The science behind "unbundling" of equipment costs [04:13 – 08:20] How does the cost of ownership Impact expansion? [08:20 – 10:22] The approach to consolidating people and resources [10:22 – 12:28] Unbundling and the lifecycle of equipment [12:28 – 13:44] Finding the hidden costs and working over time [13:44 – 15:27] Assets advice for organizations [15:27 – 16:22] Balancing needs and outcomes for the ASC's [16:22 – 19:07] Real life examples and how to respond [19:07 – 21:15] Does everyone face the same challenges and what Is It about capital equipment that adds to the complexity of the Issue? [21:15 – 22:12] Terminology [22:12 – 23:44] Wrap up and suggestions   Links | Resources: CES Case Studies   Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed

Whether you're navigating decentralized purchasing, benchmarking spend, or trying to align capital budget system wide, the Capital Spend Insights tool was built to transform how your organization approaches capital planning. Mike Kolp, associate principal from Vizient's Capital Equipment Solutions team joins host Susan Edwards to share how health systems are using Capital Spend Insights to unlock smarter, faster and more strategic decisions.   Guests: Mike Kolp,  Associate Principal, Vizient Capital Equipment Solutions Vizient   Moderator: Susan Edwards Marketing Communications Manager   Show Notes: [01:09 – 02:04]  The why behind Capital Spin Insights [02:05 – 03:15]  Industry overarching trends needing solutions for capital provurement [03:16 – 03:59]  How capital spend insights tool changes visibility traditionally exposed in the capital procurement process [04:00 – 05:11]  How Capital Spend Insights make the quote review process better [05:12 – 07:37]  Comparing Capital Spend Insights to what's available in the marketplace from other competitors [07:38 – 10:22]  How Capital Spend Insights works alongside or in tandem with the other Vizient data solutions [10:45 – 11:36]  How full fledged subscribers are they using the tool most effectively in their organizations today [11:37 – 13:00]  Common types of projects that got clients interested in using this tool [13:01 – 17:09]  The tool’s GPO compliance component and the pull through of budget alignments [17:10 – 19:03]  New improvements and enhancements for the solution [19:04 – 20:41]  Comparing Capital Spend Insights to key Competitors [20:42 – 23:25]  Key Takaways [23:26 – 24:19]  Next steps for people interested in the tool [24:20 – 25:08]  Mike will be talking about the tool at the Vizient Summit   Links | Resources: Link to Capital Equipment Solutions webpage: Click here Link to Capital Spend Insights video: Click here Capital Spend Insights fact sheet: Click here   Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed

Theranostics is a groundbreaking topic that's reshaping how we diagnose and treat cancer. It's a cutting-edge approach in cancer care, combining diagnosing and treating cancer using the same molecular tools. Theranostics has the spotlight because it's delivering on a promise we've been chasing for years in cancer care, truly personalized targeted treatment with fewer side effects than traditional options.   Guests: Lindsay Williams, MBA, CNMT, R.T.(N)(CT)(ARRT) Pharmacy Sourcing Portfolio Executive Vizient   Setu Shah, MPH Sr. Associate, Intelligence Sg2   Janna Laton, MBA, CNMT, NMTCB(CT), R.T.(R)(N)(MR)(ARRT) Independent Contributor and SME   Host: Adam Fairbourn, MBA, CNMT Senior Director, Contract Services Vizient, Capital Equipment Solutions   Show Notes: [00:48 – 01:55] What it takes for a healthcare organization to implement Theranostics [01:56 – 04:04] Success stories solving for some of the access and workflow issues [04:05 – 05:11] Education and training programs needed to support demand for nuclear medicine specialists and technologists [05:12 – 07:54] What's driving that growth in the field [07:55 – 09:34] What’s most exciting about theranostics over the next five to 10 years [09:34– 10:08] Will Theranostics become the standard of care for more types of cancer than we see today [10:09 – 11:30] The future of cancer care and Theranostics [11:30– 12:03] What Vizient is doing on the Theranostics front   Links | Resources: Vizient article - https://www.vizientinc.com/insights/diagnostic-imaging Sg2 Perspectives Podcast: Transforming Cancer Care Delivery Sg2 Perspectives Podcast: Cell and Gene Therapy in Practice   Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed

Theranostics is a groundbreaking topic that's reshaping how we diagnose and treat cancer. It's a cutting-edge approach in cancer care, combining diagnosing and treating cancer using the same molecular tools. Theranostics has the spotlight because it's delivering on a promise we've been chasing for years in cancer care, truly personalized targeted treatment with fewer side effects than traditional options.   Guests: Lindsay Williams, MBA, CNMT, R.T.(N)(CT)(ARRT) Pharmacy Sourcing Portfolio Executive Vizient   Setu Shah, MPH Sr. Associate, Intelligence Sg2   Janna Laton, MBA, CNMT, NMTCB(CT), R.T.(R)(N)(MR)(ARRT) Independent Contributor and SME   Host: Adam Fairbourn, MBA, CNMT Senior Director, Contract Services Vizient, Capital Equipment Solutions   Show Notes: [00:45] Defining Theranostics and why it’s getting attention [02:10] “See what you treat and treat what you see” captures the power of Theranostics [03:10] Why neuroendocrine tumors and prostate cancer are particularly well suited for this approach [03:50] Prostate specific membrane antigen or PSMA targeted imaging and treatment work and results [05:28] How Theranostics compares with more traditional cancer treatments in terms of precision and side effects   Links | Resources: Vizient article - https://www.vizientinc.com/insights/diagnostic-imaging Sg2 Perspectives Podcast: Transforming Cancer Care Delivery Sg2 Perspectives Podcast: Cell and Gene Therapy in Practice   Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed

This episode highlights the mainstay of Vizient’s group purchasing strategy – the Group Buy Program. Celebrating 20 years of delivering value, the Group Buy Program is a flexible, time-bound program for healthcare organizations that enables them to achieve enhanced savings, better terms and product upgrades while leveraging their GPO participation.   Guests: Rebecca Gayden Senior Principal, Capital Equipment Solutions Vizient   Tammi Pegues Program Services Director, Group Buys Vizient   Host: Susan Edwards Marketing Communications Manager Vizient   Show Notes: [01:00-2:28] Origins of the Group Buy Program [02:29-04:29] How the program has evolved [04:30-05:23] Quarterly inspiration to put deals together [05:24-06:48] Variety and flexibility – no commitment required, advanced planning capability, value from group buys [07:15-08:23] Two decades of growth   Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed

On this episode, we finish our discussion on the dynamic growth and future of diagnostic imaging. Imaging is expanding well beyond the hospital walls and factors into any strategic plans for the future.   Guests: Gurmeet Bawa, MS Consulting Director Sg2 Intelligence Vizient   Adam Fairbourn, MBA Director, Contract Services Capital Equipment Solutions Vizient   Host: Andrew Rebhan, MHIHIM Senior Consulting Director Sg2 Intelligence Vizient   Show Notes: [00:58-02:02] Sustainability and imaging [02:03-03:17] A new energy efficiency [03:18-06:12] Promising strategies for workforce challenges [06:13-09:11] AI innovation and adoption [09:12-12:57] Mobile imaging technologies and reaching more patients [12:58-14:51] Capital planning and equity [14:52-16:24] Advocacy efforts to keep an eye on [16:25-17:50] Looking ahead to exciting future   Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed

Diagnostic imaging is a dynamic growth engine in healthcare, reaching into areas such as AI, sustainability and emerging therapies with tremendous improvements now and in the near future. Its reach goes well beyond the hospital walls. On the next two episodes, our guests examine where diagnostic imaging is today and the forces determining its future.   Guests: Gurmeet Bawa, MS Consulting Director Sg2 Intelligence Vizient   Adam Fairbourn, MBA Director, Contract Services Capital Equipment Solutions Vizient   Host: Andrew Rebhan, MHIHIM Senior Consulting Director Sg2 Intelligence Vizient   Show Notes: [01:10-02:20] Primary forces driving growth in diagnostic imaging [02:21-03:37] Imaging’s importance to the growth of a health system [03:38-05:30] Changing strategies involving imaging [05:31-06:47] Infrastructure and equipment trends [06:48-07:58] Rising and widespread demand [07:59-08:58] Precision is key [09:00-09:54] Challenges ahead   Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed

Chart your course with The Capital Compass, an exciting new podcast to help you navigate your journey to value. On The Capital Compass, we explore today's most dynamic areas in capital spend strategy. From imaging and Group Buys, we dive into the emerging trends and market drivers that are shaping the big decisions for capital procurement. As a part of the powerful lineup of Vizient podcasts, The Capital Compass is available on all your favorite podcast channels.   Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed