When caregivers constantly evaluate patients' needs and adjust their equipment usage, they can create significant savings. Sometimes it just doesn't make sense for a facility to buy a piece of equipment if the rental cost is comparable to the equipment's consumable parts. Facilities should review rental costs versus purchase and maintenance costs regularly. At our facility, for example, we have both facility-owned and rental leg compression devices. When a patient uses a rental unit for more than 3 days, we exchange it for a facility-owned unit.
Some vendors allow and even encourage facilities to use their products on a consignment basis.
This way, the facility pays nothing up front. This can help a facility save on seldom-used items. Keep in mind, however, that if you don't use the product frequently enough, it costs you by taking up valuable storage space. Let the vendor hold the cost of inventory and order products as needed. Careful planning is imperative for this to work, but many vendors will gladly work with you to set up a plan.