Presenting New Technology
to Administrators
Edward S. Sternick, Ph.D., M.B.A.
Dragon Boat Management
–A Tale of Two Cities
What Is New
Technology?
 A new acquisition or expansion of an
ongoing clinical program that requires
an addition to exist...
Looking to the Future
 The biology revolution is rapidly translating
scientific discoveries and new technologies
into imp...
What the Medical
Physicist Must Learn!
 Radiation Oncology Physics
 Imaging Physics
 Nuclear Medicine Physics
 Medical...
How to Prepare for the
Presentation
 Form
 Assess
 Review
 Create
 Research
 Institute
 Evaluate
 Set Up
 Form Multidisciplinary Team
 Assess Needs
 Review Equipment Options
 Create Model Specifications
 Research Vendor Al...
Form Multidisciplinary
Team
 Include medical physicist, administrator,
appropriate clinician(s)
 Responsible for weighin...
Assess Needs
 What is present and projected caseload
volume?
 Why is current equipment inadequate?
 What replacement eq...
Review Equipment
Options
 Required capital available for installation,
operation, maintenance and upgrading?
 How much d...
Review Equipment
Options (Cont.)
 Vendor comparisons
 Upgrade conditions?
 Can lower cost system be acquired and
later ...
Create Model
Specifications
 Written specifications contractually
define level of performance required
from equipment
 W...
Research Vendor
Alternatives
 Product line, cost and “intangibles”
important
 Use life cycle costing analysis
 Initial ...
Institute Acceptance Test
Protocols
 Procedures described in specifications
attached to purchase order
 Written protocol...
Evaluate Operations &
Maintenance
 Document protocols
 Accurate record-keeping of operational
failures or service interr...
Set Up Quality Program
Structure
 Provides foundation on which clinically
effective and safe procedures are built
 Ensur...
New Technology
Presentation- The
Process
1) Become the program champion
2) Develop the business concept
3) Write the busin...
1. Become the Program
Champion
 Review what has been done or is being
done to identify the new equipment
need
 Identify ...
2. Develop the Business
Concept
“Define the value proposition that
specifies the business rationale for the
new technology...
Administrative Criteria
Screens
 Fit with Hospital strategic plan?
 Market attractiveness?
 Financial return and risk?
...
3. Write the Business
Plan
 Specify fit with Hospital Strategic Plan
 Analyze market attractiveness and
competitive impl...
4. Defend the Business
Plan
 Review reasonableness of market and
financial assumptions
 Show likelihood of achieving des...
Income (P&L) Statement -
Revenue
Gross Patient Service Revenue
Less: Contractuals, Provision for Doubtful Accounts,
Free C...
Income (P&L) Statement -
Expenses
 Operating Expenses
 Salaries and Fringe Benefits
 Purchased Services
 Supplies and ...
Financial Yardsticks
 Net Income
 Net Operating Revenue – Operating
Expenses
 Internal Rate of Return
 Interest rate e...
“Not everything that can be
counted counts and not
everything that counts can be
counted”
of 26

Presenting New Technology to Administrators - Edward S ...

Published on: Mar 4, 2016
Published in: Technology      Business      
Source: www.slideshare.net


Transcripts - Presenting New Technology to Administrators - Edward S ...

  • 1. Presenting New Technology to Administrators Edward S. Sternick, Ph.D., M.B.A.
  • 2. Dragon Boat Management –A Tale of Two Cities
  • 3. What Is New Technology?  A new acquisition or expansion of an ongoing clinical program that requires an addition to existing staff, supplies, purchased services and capital equipment with an annualized cost of at least $100,000
  • 4. Looking to the Future  The biology revolution is rapidly translating scientific discoveries and new technologies into improved patient care  An integration of genomics, proteomics and bioinformatics with new imaging modalities and novel radiotherapy delivery systems will support the rapid growth of comprehensive Image-Guided Radiotherapy (IGRT)
  • 5. What the Medical Physicist Must Learn!  Radiation Oncology Physics  Imaging Physics  Nuclear Medicine Physics  Medical Health Physics  Information Systems
  • 6. How to Prepare for the Presentation  Form  Assess  Review  Create  Research  Institute  Evaluate  Set Up
  • 7.  Form Multidisciplinary Team  Assess Needs  Review Equipment Options  Create Model Specifications  Research Vendor Alternatives  Institute Acceptance Test Protocols  Evaluate Operations & Maintenance  Set Up Quality Program Structure
  • 8. Form Multidisciplinary Team  Include medical physicist, administrator, appropriate clinician(s)  Responsible for weighing relative costs vs. benefits of alternatives  Minimizes unproductive adversarial relationships
  • 9. Assess Needs  What is present and projected caseload volume?  Why is current equipment inadequate?  What replacement equipment will benefit patients? Why?
  • 10. Review Equipment Options  Required capital available for installation, operation, maintenance and upgrading?  How much disruption during installation?  Sufficient space and access?  Environmental controls required?  Additional staff training or FTEs needed?
  • 11. Review Equipment Options (Cont.)  Vendor comparisons  Upgrade conditions?  Can lower cost system be acquired and later upgraded?  Warranty coverage?  Parts and service availability?  Downtime penalties?  User Group?
  • 12. Create Model Specifications  Written specifications contractually define level of performance required from equipment  Work with vendor on preparation  Specifications should accompany purchase order and be referenced as a condition of sale
  • 13. Research Vendor Alternatives  Product line, cost and “intangibles” important  Use life cycle costing analysis  Initial price  Installation and renovation costs  Training expense  Recurring supply costs  Preventive maintenance expense  Repair costs  Life expectancy
  • 14. Institute Acceptance Test Protocols  Procedures described in specifications attached to purchase order  Written protocols and data sheets form basis of acceptance or rejection
  • 15. Evaluate Operations & Maintenance  Document protocols  Accurate record-keeping of operational failures or service interruptions  Service considerations  Vendor-provided  Local service organization  In-house engineering  Combinations
  • 16. Set Up Quality Program Structure  Provides foundation on which clinically effective and safe procedures are built  Ensures that measured results are within acceptable limits or that necessary repairs and adjustments have been made  Requires documentation and ongoing revision
  • 17. New Technology Presentation- The Process 1) Become the program champion 2) Develop the business concept 3) Write the business plan 4) Defend the business plan ACMP
  • 18. 1. Become the Program Champion  Review what has been done or is being done to identify the new equipment need  Identify gaps and areas to achieve desired outcome  Provide input and ideas  Write business plan  “Project manage” the process
  • 19. 2. Develop the Business Concept “Define the value proposition that specifies the business rationale for the new technology acquisition” = Administrator-Speak for: Show me what you got!
  • 20. Administrative Criteria Screens  Fit with Hospital strategic plan?  Market attractiveness?  Financial return and risk?  Operational feasibility?
  • 21. 3. Write the Business Plan  Specify fit with Hospital Strategic Plan  Analyze market attractiveness and competitive implications  Seek help from hospital financial analyst to develop financial statements and clarify reimbursement issues  Identify risks  Define business goals/milestones to be reported
  • 22. 4. Defend the Business Plan  Review reasonableness of market and financial assumptions  Show likelihood of achieving desired results  Demonstrate ability to fund the new technology – Income (P&L) Statement  Multi-year projections
  • 23. Income (P&L) Statement - Revenue Gross Patient Service Revenue Less: Contractuals, Provision for Doubtful Accounts, Free Care, Other = Net Patient Service Revenue + Other Operating Revenue = Net Operating Revenue
  • 24. Income (P&L) Statement - Expenses  Operating Expenses  Salaries and Fringe Benefits  Purchased Services  Supplies and Other Expenses  Depreciation  Interest  Pension  Community Initiative Contribution
  • 25. Financial Yardsticks  Net Income  Net Operating Revenue – Operating Expenses  Internal Rate of Return  Interest rate equivalent to dollar returns expected from project. Can compare to rates hospital could earn by investing money in other projects.
  • 26. “Not everything that can be counted counts and not everything that counts can be counted”

Related Documents