Non-profit MEPP saves cash for member companies
November 15, 2017
TORONTO – Canada’s only not-for-profit organization dedicated to managing healthcare equipment service contracts, Canadian Medical Equipment Protection Plan (CMEPP), is pleased to announce that over $2.5 million dollars has been saved for hospitals in the 2016-2017 fiscal year.
This is also the 20th consecutive year the program has delivered a surplus to its hospitals, with over $37 million dollars in cumulative savings returned to hospitals since 1996.
Since April 2016, eight new hospitals have joined the program with more hospitals looking to come onboard. CMEPP’s general manager, Nils Clausen (pictured), explains how the organization’s proven ability to help hospitals better manage and maintain their valuable medical equipment assets, and reduce costs at the same time, has generated growing interest from Canadian healthcare organizations seeking to deliver greater value to their patients.
“Through our program, hospitals are making more efficient choices with their budgets without sacrificing the quality of patient care,” said Clausen. “Based on input from our participants, and increasing market demand for our services, we are expanding our current offerings and developing new solutions that will deliver even greater efficiency and cost savings.”
When a healthcare organization joins CMEPP as a participant and their equipment has been identified, they pay a capped contribution amount for their service needs representing a significant upfront savings.
Within the parameters of the not-for-profit model, CMEPP creates an aggregate shared pool of funds for all participant service repairs. The result is hard dollar savings in annual repair costs and at the end of the service term, excess savings are returned to participants.
CMEPP is currently developing processes to streamline workflow and communication between hospitals and service suppliers with the focus of ensuring equipment is serviced to participant expectations.
As the number of CMEPP participants increases, so does the reduction in overall costs and subsequent savings for all.
CMEPP is Canada’s only not-for-profit organization dedicated to taking the pain out of managing medical equipment service contracts. CMEPP’s flexible approach solves clients’ most challenging issues and delivers hard dollar savings that can be reinvested in patient care. CMEPP is located in Toronto, Ontario. For more information, please visit https://www.cmepp.com.