Purchasing today’s medical technology involves much more than just finding the best price. You must implement a total systems approach to facilitate organizational goals and achieve a return on investment. That starts with identifying key stakeholders and getting an accurate picture of expenses through both capital and operational costs.

Often, the most effective means to reduce service contract costs is simple competition. Once you have a quote in hand from a vendor, it’s time to employ some standard capitalist tactics.

Engineers and technicians are not always known for their ability to write good reports. To help you out with your end-of-year obligations, 24×7 called on editorial board member Dave Harrington to offer some guidelines. He provided a highly versatile vocabulary list.

Service contracts come in all shapes, sizes, and prices. To avoid being taken advantage of, you have to know your way around a contract and understand the particular needs of your facility. The first half of this series reviews factors you should consider before shopping around and some of the main types of service coverage.