Surgery Department Acquired New Technology Despite Resistant Administrators

The Client

A large Medical School & Teaching Hospital.

The Highlights

• New Surgical System Acquisition
• Large Medical School & Teaching Hospital
• Negotiated Directly With Vendor To Reduce Price
• Installed New System AND The Old System For The Same Monthly Payment
• Vendor Placed A Year-End Order

The Challenge

The Medical School & Teaching Hospital was leasing a hi-tech orthopaedic surgical system from Somerset. The system had been in place over 5 years and the manufacturer had since made big improvements that were being offered on a new platform. The surgery department wanted to have the latest and greatest technology, but the finance department wanted to get a “few more years” use out of the old platform.

Going Beyond Finance

Somerset were able to strike a deal with the manufacturer to accommodate the customer, and the team extended the existing lease at a payment significantly below fair market value. This freed up operating budget for the hospital. The vendor then reduced their price to meet the delta created from the first lease payment decrease, and Somerset financed the new system.  The hospital ended up with new and old technology for the same monthly payment, and the vendor placed a year-end order.