Creating a capital renewal program can help hospitals and health systems identify, prioritize, and execute maintenance projects while avoiding investment errors and unbudgeted costs. The American Society for Health Care Engineering (ASHE), a professional membership group of the American Hospital Association, recently published a Capital Renewal Playbook to highlight best practices in healthcare capital renewal programs.

The playbook was developed by ASHE’s Health Care Executive Leadership Council. The document  shows how to take a proactive approach to managing valuable facility assets.

“Allocating capital funding to maintenance projects is a continual challenge for health care facility managers and hospital leaders,” says Don King, CHFM, who helped develop the playbook. “To create the Capital Renewal Playbook, we looked at best practices across the country and identified 12 elements that are key to effective capital renewal programs in healthcare facilities.”

Critical elements include a facility condition assessment, metrics, alignment with organizational strategies, risk assessments, and multidisciplinary teams.

“Healthcare facility professionals can use the Capital Renewal Playbook to bring value to their organizations,” says ASHE Executive Director PJ Andrus, MBA, CAE. “A comprehensive, strategic approach to capital renewal is a powerful tool that can help avoid costly interruptions in healthcare delivery.”