Whole-life cost replacement planning helps you get more for less
With a huge equipment shopping list and limited capital, the NHS needs to make every penny count. It’s why our replacement planning methodology examines every aspect of whole-life costs, rather than just the day one purchase cost. Effective, whole-life replacement planning helps individual departments, or entire Trusts, to:
- forecast effectively
- make the most of limited capital
- manage the funding gap
- develop better-informed business plans
- identify standardisation opportunities
- quantify the impact of sweating assets
- amend plans as risk assessments change
1. Collating the data you need
We’ll help you identify the data you’ll need from a range of sources. This will include your own data, up to date market cost data and forecasts drawn from our own historical data:
- Technological maturity
- Purchase costs
- Services and consumables costs
- Risk assessments
- Financing costs
- Revenue impact
2. Populating our dynamic, online system
Once the information has been collated, we’ll help you populate your replacement plan in OPTIMiSe, our online system. With OPTIMiSe, your plan will be dynamic – adapting to new information, costs or risk assessments. It can be made available to all stakeholders, delivering a fully transparent planning tool.
3. Evaluating the funding gap
Every NHS Trust, and most departments, will have a funding gap – the difference between what you need and your available funds. The plan will clearly identify the whole-life costs of the equipment you need to purchase as well as available sources of funds. The model will assess the costs of alternative funding options – from cash to loan and lease to managed service – helping you make the most cost-effective funding decisions.
4. Making the right decisions
Armed with up to date whole-life costs on an asset-by-asset basis, you’ll be able to assess your options, build well-informed business cases and identify the ideal time and method to replace the equipment on your list.
Let’s make a plan
We offer a free assessment to identify the benefits this approach can deliver for your Trust. Our only charge is a small annual fee to host your plans on OPTIMiSe. To discuss how we can help, call Neil Marriott on 01865 340800. He’ll explain how we can help your department, or your entire Trust, get more for less from your budgets.