Cohealo finds savings for hospital systems by increasing the utilization of their medical equipment.

Step 1

Ask: how often is the most expensive equipment at my hospital being used?

A ten-facility health system will own $1B worth of medical equipment that on average will sit idle for 58% of its usable life. To get started, Cohealo works with our health system partners to develop performance improvement plans for their equipment in one to three service lines.

Cohealo calls this an equipment efficiency initiative.

Step 2

Quantify equipment utilization and then operate more efficiently

Cohealo provides real-time utilization insights to clinical and financial staff. By knowing where, when, and how often equipment is used, Cohealo finds opportunities to increase the utilization of owned assets, thereby ensuring a greater return on a hospital’s capital investments.

Step 3

Free up capital, reduce waste, and improve access to equipment by sharing

Cohealo handles all the logistics and transportation for sharing equipment with excess capacity between facilities. Hospitals can make collaborative purchases and decrease their rental burden, sharing a single unit to meet the needs of multiple hospitals, instead of buying the same, redundant equipment that would be underutilized.

Step 4

Champion a data-driven capital planning process without compromising on clinician satisfaction

Cohealo places each purchase request in the context of current equipment utilization and whether the same assets are already owned by nearby facilities. Through equipment sharing and collaborative purchases, hospitals can stretch their capital dollars and fulfill more clinical requests.

Step 5

Change the approach to equipment ownership, looking internally to the network before buying or renting

When a clinician needs equipment today, the process usually involves multiple phone calls, renting, or a capital request that could take a year or longer to be fulfilled. Cohealo’s platform decreases the necessity of renting or buying, because clinicians’ requests are already being met with existing resources.