Every hospital requires various medical equipment for diagnosis, treatment, and monitoring. This assortment of machinery can go a long way in controlling the level of advancement of the healthcare facility. Hospitals obtain medical equipment directly from manufacturers or vendors.

Some hospitals prefer to buy the entire range of equipment from a single source. At the same time, others choose to contract several sellers instead of using a single ordinary source.

What is Multi-Sourcing?

Multi-sourcing is an outsourcing method of claiming where medical equipment, services, or facilities are obtained from multiple providers either manufacturers or vendors, and not from a single conventional source.

Multi-sourcing of medical equipment comes with both:

Advantages:

1. Mitigation of risk
It is sometimes learning not to put all risk. If a hospital relies on a single vendor. However, there is the risk of not getting quality in every product or timely service. Instead, if there are many vendors there is less reliance on any one individual supplier. This adds reliability and adaptability to the supply chain.

2. Stability
If procurement requirement is spread across several supplying sources, it reduces the liability of over-dependence on one factor in the supply chain. This adds the factor of diversification to your medical equipment array.

3. Quality and innovation
Multi-sourcing encourages competition among your suppliers. This can prod them towards ensuring innovation and quality prerequisites which will be a win-win situation for your hospital.

4. Cost-edge
If there are several players in the arena, you will be able to negotiate to get the best possible price deal. Every rupee saved will take you a step closer to the milestone of breakeven and increase your profit volumes.

Disadvantages

1. Tough to manage multiple suppliers
There is a single source of medical equipment supply, it becomes easy to build, manage, and maintain a relationship. However, a multipronged supply network becomes difficult to handle. It is also very difficult to manage the administrative records of many suppliers simultaneously and monitor and supervise their quality and efficiency track records.

2. Costs
A single supplier is catering to all the hospital’s medical equipment, the hospital can negotiate on a bulk order and reduce costs of procurement, maintenance, and repair. This is not possible if there are multiple sources involved.

To summarize, the multi-sourcing of medical equipment is an option that gives flexibility and operational efficiency to hospitals. However, this decision has to be taken after careful consideration of your hospital’s budgets, workflow details, and footfall. If you want expert insight on medical equipment planning and procurement, consult Hospertz, a leading healthcare consultancy firm in India.

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