Choosing and purchasing expensive medical equipment: A hospital perspective

Abstract

Rapid innovations in material, laboratory, and computer-based diagnostic and therapeutic technology have improved outcomes of interventional treatment of urinary tract stones. However, costs and risks have increased disproportionately, and machines face obsolescence as newer inventions replace them. The higher the costs and shorter the life span, the greater the risk, as the value of the machine can decrease by 30–35 % immediately upon purchase. To ensure effective and financially feasible plans for treatment of stones, a number of questions must be addressed before purchasing expensive equipment. This chapter provides a framework for an appropriate decision-making process involved in the acquisition of high-value medical equipment. While readership of this chapter primarily includes urologists and other related health-care professionals, the process defined here can be easily applied to the purchase of any high-value high-cost medical, therapeutic, or diagnostic equipment