For healthcare administrators, nothing is more important than keeping patients safe. To do that, you have to maintain your location’s budget with critical accuracy and attention to needs. One area you should never cut back on is biomedical equipment maintenance. Not only does maintenance keep systems working properly to safeguard lives, but it also prevents higher emergency repair costs.

Coast Biomedical Equipment offers a lifeline to administrators. By offering comprehensive service at competitive rates, maintaining budgets is easier than expected.

How Much Biomedical Equipment Maintenance Should Cost

Biomedical equipment maintenance is an expected cost for operating your business. The cost-of-service ratio is typically between 4.5% and 15% of the price paid for the medical device. Critical components of budgeting include dividing the total annual service costs by the original purchase price of equipment. The total annual service costs include labor, parts, contracts, and overhead. Healthcare administrators recognize these costs. 

Factors That Affect COSR 

To ensure you are not under-spending or over-spending, consider some of the critical factors that affect COSR:

• The type of equipment used. Higher-tech equipment tends to cost more to maintain. It has higher and more regular maintenance demands and needs. This includes imaging and lab equipment, which must be maintained with precision and accuracy. 
• Hospital costs. The location and size of the location play a role in overall costs as well as overhead rates.
• Purchase price. When investing in new equipment, negotiating a competitive purchase price can increase the COSR because of the lower original cost.

Working with the right technicians and providers matters. Biomedical equipment maintenance costs can be better maintained by ensuring better oversight into who is doing the work for you. Budgeting for biomedical equipment is always a balancing act between cost and quality.

Put our team at Coast Biomedical Equipment to work on your needs. We offer comprehensive biomedical equipment maintenance that fits within the expectations of healthcare administrators. Contact us now to learn how we can help you.