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seeking to become a one-stop shop
Ohio Medical Equipment Services Firm Launches Innovative
“replacement-parts finance Program”
Hospital equipment
might be working
a bit longer these
days as businesses
start feeling a
pinch from the
costs imposed by the Affordable Care
Act – also known as “Obamacare.”
And at least one medical equipment
services firm is already shifting gears
to put more service engineers in the
field just to keep older equipment in
shape.
“If a machine breaks on a Thursday
at noon, they need it up on Thursday
night, not on Friday afternoon,” said
Ric Arcadi, CEO of CapMed+, a firm
looking to revolutionize health care
financing by acting as an all-in-one
bank, used equipment dealer and
service shop. The firm recently began
offering a new medical equipment
parts financing program, on everything
from new flat-panel detectors to MRI
& CT parts. It promises to pair health
care organizations with the capital
needed for replacement parts and
cutting-edge equipment, when they
need it.
“Hospitals and imaging centers are
being forced to find ways to lower costs
and preserve their working capital.
And the launch and invention of our
medical parts finance program was
geared to do exactly that,” Arcadi told
The Suit Magazine in an interview.
“We’re giving these hospitals a choice
… With our parts finance program,
they can get the part they need on the
same day. We can have up to $250,000
approved and in their hands in four
hours.”
But it is more than just Obamacare
that can cause hospitals headaches.
“It is tight budgets, the need for quick
financing and the need for a level of
customer service that only firms like
CapMed+ provide,” Arcadi said.
In the medical finance industry
since the mid-1990s, Arcadi cut his
teeth working for American Express.
Now, as CEO of CapMed+, Arcadi said
that his firm is dedicated to providing
quality customer service to clients who
appreciate personalized service. His
level of service even goes so far as to
advise clients on products they have
purchased from other vendors.
The financing program is the
lynchpin that allows the firm to offer
such a high level of service.
“We’re really kind of unlimited
on the type of high value parts we
can finance under that program,”
Arcadi said, adding that the firm
handles discussions with the client on
everything related to the part – shelflife,
warranty, financing – everything.
“There’s a huge benefit to this
program on kinds of parts in the
supply chain … We’ve been on both
sides of the table,” Arcadi related. “For
hospitals, the benefit is obvious. They
don’t have to pay $100,000 cash for a
part … [For] dealers who are going to
use this program – they don’t have to
worry about how the hospital is going
to pay them.”
Dealers who would normally pay an
original manufacturer upfront for the
THE SUIT MAGAZINE - NOV 2014