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The FDA's oversight is crucial as it covers various aspects of the medical device industry, including the path to market, post-market surveillance, device recalls, and key definitions. Medical devices are categorized into Class I, II, and III,
Understanding the total cost of ownership is necessary in evaluating technology but the expenses are just one piece of the return on investment equation. You need to look at the revenue and expenses, and be clear on you financial assumptions.
If you are assessing healthcare technology for purchase or investment you not only have to consider the technical aspects but also the financial aspects of the technology. Total cost of ownership is not just a purchase price. You can't buy a
Learn how to to review clinical research with a critical eye and also find out more about my habit of drinking too much soda.
Continuation of the determination and validating of "real science", we now take a deeper dive into clinical research methodologies.
Last episode we covered gold standard comparisons of measurements devices. Now lets talk about gold standard comparisons of screening devices. We will touch on the ever-confusion terms of sensitivity and specificity through an illustration ab
To properly assess clinical technology it is often required to evaluate the technology against a know gold standard. This must be done in a thoughtful and systematic way. This episode touches on gold standard comparisons of measurement device
When evaluating or assessing healthcare technology you have to first validate that the science behind the technology is "real". Does it solve a real clinical problem? Is it based on real scientific principles?
Having a comprehensive life cycle plan for your healthcare technology is a good start. But you also need a systematic process to implement that plan and guide your decisions. New investments and growth are important but don't forget about you
Support, maintenance, and utilizations of healthcare technology is only part of the overall HTM financial picture. The overall life cycle plan takes into consideration to ongoing expenses of you technology as well as the potential impact of fu
Stop me if you've heard this one... Three physicians walk into a board room...
Contract terms can get complicated and messy. Many of us have not gone through law school so we rely on those with legal training to ponder the language but we still have a responsibility to understand enough to assure the contract language re
Contracts are governing documents that not only define service strategies, organizational liabilities, response guarantees, but are also the source document for many of the financial and business arrangements in HTM. This episode gets you star
Financial management for HTM is highly dependent of an understanding of the technical, operational, and regulatory considerations for the medical devices and systems. Therefore, a basic introduction on HTM Service Management options and strate
Medical equipment management, whether it is viewed from the perspective of a healthcare delivery organization, medical device manufacturer, or independent service organizations, is grounded in a complex framework of regulations, standards, and
Healthcare Technology Management budgets have some distinct characteristics however the basic finance, accounting, and budget principles are they same. We will look at the HTM budget from two perspectives. The first is the basic budget outlin
The general ledger is the “log book” for all financial transactions in a business. In Healthcare Technology Management (HTM), many of these transactions are a result of purchasing activities associate with the HTM supply chain. The basic fina
A familiarity with basic financial and accounting concepts will help build an understanding of how Healthcare Technology Management (HTM) operations contribute to business decisions or how business decisions drive HTM operations. In order to
Let's make lemonade and financial statements! In this episode we will review the primary types of financial statement. These are standard formats for how to represent a summary of accounting information for an organization. Understanding the
The cost of healthcare is a mystery for two reasons. First, the average consumer does not understand the essential costs of providing care such as clinical cost, facility costs, and ancillary support costs. Second, the methods for pricing, bi
We are beginning our discussion from the very basic fundamentals of finance and accounting related to HTM. In this episode, we will cover some basic accounting practices and terminology that lay the foundation for our journey through HTM finan
If you believe for a moment that the technology you support is separate from yourself, you are mistaken.It is you. Just as your arms, your legs, and your heart are fully you.It is your eyes watching over someone who deserves the attention, a
This ParadigmHTM Podcast Series covers key apsects of financial management related to healthcare technology. This introduction will provide an overview of why this topic is important and how it applies to the work you do. The subsequent episo
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