Capital Purchase Justification

Medical technology is advancing rapidly with each passing minute. It is becoming more urgent for health care facilities to invest in equipment that is current and state of the art. Behind these advancements are proven statistics that certain equipment is a necessity when diagnosing and treating patients. We, as health care workers, owe it to our patients to have the best possible equipment in our facilities. Aside from non-melanoma skin cancer, breast cancer has become the most common cancer among women in the United States. Breast cancer does not discriminate.

It is one of the leading causes of death among women of all races and ethnicities (“Breast cancer statistics,” 2010). With statistics like these, we need to seriously consider the current equipment we are using for detecting breast cancer for our female patients. With all of the advancements in the latest technology, it is a great disservice to our patients to use the computed radiography (CR) machines that are outdated. The CR machines are less accurate and are not as comfortable to our patients. I have researched and found a solution to our dilemma and I hope you find the information efficient.

I also will attempt to provide you with enough important information for you to make an educated and positive decision for the future of our female patients and their families. Furthermore, the new piece of technology will help improve the quality of health and increase revenue at our hospital (Gerson , 2013). The piece of equipment that logically represents the necessity of our facility is the Siemens Magnetom Espree – Pink. This highly advanced piece of machinery offers exceptional biopsy capabilities and breast imaging.

The innovative workflow and unique applications set this MRI machine apart from many others currently on the market. The Magnetom specializes in providing an unprecedented level of patient comfort, making examinations much more relaxed for the patient and doctor. There is also an unmatched level of speed and versatility when operating the Magnetom (“Magnetom espree -,” 2013). When making a purchase to improve on many areas of operations there are always factors to take into consideration. There will be a great amount of capital expenditure for this equipment; however the potential for higher return on investment is remarkable.

The initial cost of purchasing the Magnetom is approximately $ 1 million. There will be an additional cost of $500,000 to operate and maintain the machine. These costs will be reimbursed within the first eight months of extensive utilization if the all marketing for the machine is on point. Since we are currently paying a technician to operate our out of date machinery, there is no reason why this prediction cannot become reality. There will also be an offset of income inherited by the lack of errors made by the technicians after they have trained for the new machine . (“Magnetom espree -,” 2013)

Some other factors of operation to look at are scan times. There will be a significant amount of time saved when using this new piece of technology. As we know, time is money in any business and the amount of time saved will be viable in contributing to more income in other departments. Another point to look at is the enhanced imaging quality. So many times we are losing time and money on poor image results with our current machine. The quality of enhanced imaging will also be far more beneficial for the patients in determining a diagnosis and prognosis.

Through these enhanced images there will be less room for error and therefore less lawsuits, resulting in more money saved overall for the hospital. If we can afford to invest in this new piece of equipment, I feel the return will be incredibly beneficial and will help our facility move into the future with confidence against all of our competing hospitals (“Capital purchase justification,” 2012).

In conclusion, we as health care professionals owe it to our patients to be as current and concise with all of our technology. There are exponentially ore and more patients looking for hospitals with top of the line technology advancements. For a hospital to thrive in today’s society and not be trampled by its competitors there needs to be substantial financial sacrifices made on every front. With the intensity of breast cancer affecting more and more women each year, having the best in mammography equipment is vital to every organization. Not only will we be advancing with our financial department, we will be adding exponential livelihood to our female patients and their families. That is worth the investment alone.

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