Setting the Stage for Success in 2025: The Power of Clean, Complete Capital Asset Data Enhanced by CCM®

As hospitals and health systems prepare for 2025, the strategic management of capital assets is paramount. Clean, complete data on these assets is the cornerstone of effective budgeting, procurement, and operational efficiency. HANDLE Global's Capital Cycle Management (CCM®) platform, enhanced by a powerful federated data set, provides a comprehensive solution to ensure that capital asset data is accurate and strategically leveraged, delivering tangible benefits to finance, supply chain, and facilities & construction teams.

The Importance of Reliable Capital Asset Data

In healthcare, capital assets represent substantial investments. Managing these assets efficiently requires more than just tracking inventory—it necessitates a deep understanding of their lifecycle, costs, utilization, and compliance requirements. Without clean, complete data, hospitals and health systems risk financial inefficiencies, compliance challenges, and compromised patient care.

Clean, complete capital asset data means having up-to-date, accurate information on every asset, including its condition, value, depreciation, maintenance history, and compliance status. This data is essential for making informed decisions about when to repair, replace, or retire assets, optimizing sourcing strategies, and enhancing capital request, approval, and budgeting processes.

CCM® is designed to transform the management of capital assets by delivering a single source of truth for capital asset data. Central to this capability is HANDLE Global's federated data set—a robust, integrated data environment that aggregates information from various sources across the healthcare system, including:

• Internal Hospital Systems: Combining data from ERPs and CMMS, inventory management systems, and financial systems to provide a unified view.
• Industry Benchmarks: Incorporating data from industry standards and benchmarks to compare performance and identify areas for improvement.
• Third-Party Data Sources: Utilizing data from FDA, OEMs, GPOs, and third-party applications to enrich the dataset and provide additional insights.

The federated data set is a unique feature that allows healthcare organizations to tap into a vast network of aggregated data from multiple institutions, providing deeper insights and broader context for capital asset management. By integrating data from various systems, locations, and sources, HANDLE Global enables healthcare organizations to benchmark their performance, identify trends, and make data-driven decisions grounded in comprehensive, real-world insights.

How Your Teams Can Leverage CCM® Independently and in Parallel

For Finance Teams:

1. Capital Budget Optimization: With access to federated data, finance teams can compare their asset performance and lifecycle costs with industry benchmarks. This allows for more precise capital budgeting, ensuring investments align with the organization’s financial goals and operational requirements.
2. Enhanced Financial Planning: The federated data set provides a broader perspective on asset depreciation and value, enabling finance teams to forecast more accurately and confidently plan budgets. This leads to better alignment of financial resources and operational needs. Using the best data available, your organization can leverage CCM® to plan and budget five years out.

For Supply Chain Teams:

1. Smarter Sourcing Decisions: CCM® offers supply chain teams valuable insights into purchasing trends and best practices across the healthcare industry. Supply chain managers can negotiate better contracts, reduce costs, and avoid common pitfalls by having a comprehensive view of their capital assets, including parent-to-child manufacturer relationships that can be leveraged to get the best prices possible.
2. Optimized Inventory Management: Federated data fed into CCM® to enhance your health system’s data allows supply chain teams to benchmark their inventory levels and procurement strategies against those of other institutions. This ensures that inventory management is efficient and aligned with industry standards, reducing waste and improving resource utilization.

For Clinical Engineering Teams:

1. Lifecycle Management Excellence: The federated data set provides clinical engineering teams with comprehensive insights into asset lifecycles across the industry. This data helps predict maintenance needs, plan replacements, and ensure that assets are utilized to their fullest potential.
2. Compliance and Risk Mitigation: By leveraging federated data, clinical engineering teams can stay ahead of regulatory changes and compliance requirements. CCM®’s integrated data environment ensures that all capital assets and maintenance activities comply with the latest industry standards, reducing the risk of fines and penalties. Health systems can also set customizable risk scores to detect and address vulnerabilities before they escalate.

Preparing for 2025 and Beyond

As 2025 approaches, the healthcare industry will face new challenges and opportunities, particularly in managing capital assets efficiently. Hospitals and health systems that prioritize clean, complete capital asset data—enhanced through HANDLE Global's CCM® platform and federated data set—will be well-positioned to navigate these changes and achieve long-term success.

Investing in CCM® and leveraging the federated data set is not just about improving asset management; it's about transforming capital asset data into a strategic asset. By ensuring that data is accurate, comprehensive, and easily accessible, healthcare organizations can set themselves up for success in 2025 and beyond, driving better outcomes for their operations, finances, and the patients they serve.

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