8. Leading Edge Technology Review and Analysis

M.L. Schwartz & Associates is frequently called upon to review the efficacy and cost effectiveness of new equipment and services. This service frequently includes the interviewing of vendors and the development of cost feasibility studies utilizing data provided by vendors, national health care statistics, and actual DRG utilization rates for specific components of the population.

M.L. Schwartz & Associates was able to prevent many of its clients from falling for one of the many 'fads' of the 1980s and 1990s such as walk-in emergency rooms, ambulatory surgery facilities, the acquisition of non-essential physician practices, etc. While these offerings could have been profitable in the correct setting, far too many hospitals who implemented these fad services found themselves losing significant dollars prior to abandoning them.

Mr. Schwartz actively interfaces with hospitals throughout the country and utilizes this network to evaluate new services and new programs. Much of this information is gained as part of the development of comprehensive physician surveys, when Mr. Schwartz learns of new and additional programs in their infancies and is able to translate this data to his network. For example, an understanding of process allowed M.L. Schwartz & Associates to assist a hospital in dealing with changes in technology in the OR/CSS sterilization process resulting in potential cost savings of $100,000 per institution. As another example, new products make it possible to reduce the number of frequent ER patients and to reduce the number of visits of each of these frequent patients.

It is often critical to go beyond the impact of a new service on a specific department and evaluate the institutional impact. EECP is just such an example. The director of CV services might examine the impact of an EECP Service and the impact of a nuclear camera and conclude the nuclear camera would result in a higher return for the CV department. The CEO would examine the same two programs and recognize that the impact of the nuclear camera is felt only by the CV Service yet the impact of EECP is felt by the CV department, the Emergency Room, the ICU, the surgical suites and the inpatient floors. When all the impacts are considered the impact of EECP rises to the top.

Other potential successes include joint ventures with physicians and with major non-healthcare corporations, including clinic services offered within retail stores, as several national companies are already doing. M.L. Schwartz & Associates can help evaluate the potential risks and returns for such ventures.

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