Efficient Asset Management

EQ2 CEO Joe Eichberger contributed a piece called “Efficient Asset Management – how CMMS’ can help hospitals manage their assets for results” for the December 2016 issue of 24×7 Magazine.


iceberg - asset management

Initial acquisition cost is obvious and easy to see – like the top of the iceberg
Total lifecycle costs however amount to much more – like installation, maintenance, upgrades, repairs, downtime, etc.

The ability to see the whole picture of a single asset’s cost, allows hospitals to make good business and operational decisions since they can see more than what’s directly in front of them – they can see the whole picture.


In the magazine article, Joe discusses how a CMMS gives hospitals this ability to see the whole picture. Here’s a small excerpt:

Hospital equipment assets, while purchased for millions, cost many times their purchase price to maintain. With a good CMMS, the data needed to make smart, cost-effective service, procurement, and retirement decisions is available. And, while collecting cost data, you’ll have the information to comply with and pass all certification inspections.

Installing a CMMS at the hospital also ensures compliance to Joint Commission, DNV GL, and Centers for Medicare & Medicaid Services (CMS) standards. But just using the CMMS for your certification is an opportunity lost. It also can provide the lifecycle financial data needed to perform smart, cost-effective asset management.

Read more from the digital version of the story at 24×7 Solutions for Healthcare Technology Management.