Reducing Costs and Environmental Impacts to Healthcare through a Total Cost of Ownership Calculator

With tremendous cost pressures within the U.S. health care system, health care providers are looking at different ways to save money. For many medical devices there are submerged costs that are not always reflected in the purchase price and may not be considered during purchasing decisions. To reduce these costs and associated impacts, the total cost of ownership of a product or service should be included during purchasing decisions to assess the full cost to an organization.

To address this need, a total cost of ownership calculator has been developed to provide purchasers with a standardized and systematic way to consider the various use and waste costs of products that are procured. These direct organizational costs include utility, labor, maintenance and waste disposal. Partnering with Trucost, Practice Greenhealth worked collaboratively with hospitals and health systems, suppliers, and GPOs to build, test, and now deploy a tool for health care.

Learn outcomes from health care organizations that have used the tool, how it was applied, the user requirements, the targeted products, the outcomes showing the comparison of costs and savings identified. This session will demonstrate the tool’s basic functions and share resources available to support its use.

Credit Information

Activity Number Credit Amount Accreditation Period
AHRMM 1 Hour from September 13, 2017