6 Ways Medical Equipment Companies can Excel in Value-Added Service with a Software Assist

medical equipment service model

Invest in medical equipment service software and go all-in for service to keep up with competition.

Like other industries, business in the medical equipment industry is picking up after the lull of the recent recession. Of course, so is competition. For today’s medical device & equipment companies, quality service stands as a main differentiator for organizations looking to take advantage of industry improvements.

2014 Medical Equipment Industry Outlook

According to Emergo Group survey, “Outlook for the medical device industry in 2014:” “Nearly 75% of respondents reported ‘somewhat positive’ or ‘very positive’ industry outlooks for 2014” and “nearly 85% of respondents are optimistic about their own company prospects in 2014.”

Industry Outlook

medical equipment service model

Source: Emergo Group (click to enlarge)

Company Outlook

medical equipment service model

Source: Emergo Group (click to enlarge)

Product innovation is no longer enough to stand out. New business models are needed that drive financial and operational excellence and medical equipment businesses are turning to value-added service models to excel in the shifting environment. It’s no longer enough to sell equipment; today’s customers expect regular service at an affordable price. But service takes a lot of work, which is why companies are turning to enterprise and mobile service technology to help manage the demands of running a service department.

In order to maximize your service potential, focus on strengthening the following areas with a service management app:

    1. Schedule Preventive Maintenance Orders in Advance

    Companies that service important medical equipment with well-run preventive maintenance programs and reliable service fare much better than those that only produce and sell new equipment. Healthcare is one area that requires regular servicing of its equipment (they might not need that hospital generator for five years, but it better work when they do). Take advantage of equipment preventive maintenance requirements by establishing recurring PM contracts with your customers and schedule them in advance through a visual scheduler.

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    2. Manage Service Contracts & Warranties

    Using a mobile app in the field, technicians have access to warranty details for each piece of equipment. The app also tracks and sends alerts about terms of service contracts so techs have all the information they need to service the equipment and bill accordingly.

    3. Perform Mobile Inspections to Meet Safety and Cleanliness Codes

    Arguably more than in any other industry, medical equipment companies need to meet safety and cleanliness codes. Hospitals and patients rely on equipment working safely and preventing and diagnosing, not causing, illness. With these stringent conditions in mind, companies can more reliably meet regulatory codes with a mobile inspection app that lets techs perform, document, save, and send inspections right on their mobile device.

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    4. Track Assets to Keep Technicians Informed

    When techs go onto a jobsite, it’s a lot easier for them to solve a problem or perform a routine preventive maintenance order if they understand the equipment, have access to the right parts, and are able to see complete service history. Armed with the right information, techs can achieve higher success rates and act as better advocates for your company.

    5. Capture Hours and Parts to Streamline Billing

    Timely billing is an important part of a successful service model. Technicians equipped with a service management app can record their hours and parts, get the customer signature, and create a bill before they even leave the jobsite. An automated cash to collection cycle can shorten the billing timeframe to as little as just one day.

    6. Maintain Operational Control through Service Portals

    With so much business talk about big data and more tools than ever to measure and manage data, data and analytics are becoming foundational to secure competitive advantage for medical equipment companies. Web service portals give all company stakeholders an individual dashboard through which to track relevant data to their role in the company.

    Portals 3

Conclusion: Go All-In for Service

Medical device companies need to get more creative and drive innovation beyond the equipment they sell in order to stay relevant. One way to achieve this new business model is to go all in for service by investing in the best software to get the job done right.

Digital technology and connectivity is changing the healthcare industry and it’s up to each medical equipment company to decide how they’ll take advantage of those changes. Don’t ignore the potential of a well-run service model for your business. Your customers will thank you; and so will your bottom line.

7 Best Practices for Choosing a New Field Service App

Medical equipment companies have a lot to gain by switching to automated field service. Use these tried and true methods for organizing the field service software buying process. Eliminate the unexpected and increase your chances of success with your software.

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