Analyzing the actual total cost of ownership (TCO) for a hospital infusion pump
Calculating all the costs associating with the administration of infusions can be confusing and overwhelming. Ongoing maintenance, operating costs and acquisition costs do not come close to reflecting the total cost of ownership (TCO) for infusion pumps.
As a busy healthcare executive in today’s landscape, there is no time to chase vendors for answers about their ROI metrics, especially when the initial discussions don’t address all of the hidden and indirect costs a hospital system will incur.
Whether you’re thinking about investing in an interoperable infusion system with the latest platform integrations or you’re researching alternatives to your existing legacy infusion pump, you need a complete look at all the direct and indirect costs involved. That’s why we broke down the TCO of a hospital infusion system across the four critical areas that will most impact your bottom line: productivity, revenue, expenses and medication errors.
We know how important it is for you to improve workflow efficiency while driving improvements in patient safety and satisfaction.
We also understand the massive role infusion systems play in a hospital and healthcare system’s overall financial health. New infusion technology, like the Ivenix Infusion System, can provide an estimated 40% in savings versus the pumps you have today, which is approximately $10M in savings for an average hospital.
The following are some key questions to ask when understanding how a modern infusion system improves your
- Is the pump’s user interface modern, simple, and intuitive and designed to reduce programming errors?
- Does the infusion system contain tools that help reduce the time and costs associated with integration and support?
- Is the pump able to automate the delivery of medications from a secondary container, eliminating the risk for common piggyback errors?
- Is the pump designed to control flow and prevent the free flow of medications to the patient under all clinical conditions?
- Is the pump capable of performing safety checks such as identifying duplicate and incompatible drugs?
- Can the pump accurately capture infusion start and stop times and IV pushes to minimize lost reimbursement and maximize revenue?
- Can the infusion system provide pre-emptive support, active fleet monitoring, and assist nurses in locating pumps, reducing the costs associated with finding and managing the pump fleet?
- Can the infusion system identify drug and fluid waste?
- Is the pump designed to eliminate the time consuming task of annual flow accuracy testing?
- Is the pump designed to be cybersecure, eliminating the need to implement less effective and more expensive mitigations?
Rethinking infusion delivery
Every aspect of the Ivenix Infusion System is designed to help improve outcomes and prevent infusion-related errors. By providing advanced data on patient outcomes and creating operational efficiencies, the Ivenix System helps reduce the TCO of the infusion pump.
Download our Infographic today to learn more or contact us
to discuss your true TCO potential with an innovative infusion system.