In a recent collaboration with a medical equipment vendor, Huntington Technology Finance was able to help a growing Midwest hospital overcome a staffing shortage with new technology.
The hospital had just completed a large acquisition and wanted to consolidate its microbiology laboratories into one location and hire additional technologists to handle the increased workload. With the new operating budget approved, the lab director had a green light to move ahead, but was having difficulty finding qualified candidates.
Knowing the hospital’s situation and that its budget was tight, we did some calculations and found that our vendor’s automated laboratory system was actually less expensive compared to the monthly cost of new hires.
With this savings in mind, we presented a finance structure to the hospital that included redirecting the funds for the technologists to the new total automated lab solution, which is designed to deliver consistent, high-quality results and increase productivity per full-time employee.
Our creativity and ability to demonstrate the operational and financial value of the automated system not only solved the hospital’s staffing challenges, it also kept the budget on track and positioned the hospital for additional lab expansion opportunities in the future.