A New MRI for Northwestern Memorial
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Grand Canyon University *
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610
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Medicine
Date
Apr 3, 2024
Type
pptx
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A New MRI for Northwestern Memorial
Grand Canyon University
Prepared by: Angelica Williams
Objective
❖
Explain why Northwestern Memorial should invest in the MRI, Magnetic Resonance Imaging, machine ❖
Outline the operating cost associated with the capital purchase
❖
Explain the renovations and changes the facility will undergo
❖
Provide reasoning behind why the MRI scanner will be a financial gain
❖
Explain required training for use of a MRI scanner
MRI Specifications
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3T (3 Tesla) MRI Scanner
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Equipment Expected Life Expectancy: 10 years
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Guaranteed Warranty: 4 years
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Additional warranty: $75,000 (per year for up to 10 years)
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Software upgrades: $25,000 (per year for up to 10 years)
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Total cost: $4,400,000
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Why A MRI?
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A MRI has a wide variety of benefits for both the patient and the healthcare facility
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Has no limitations on the number of diseases it can diagnose and detect(Benefits & Risks, 2017)
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With the accuracy the MRI possesses in diagnosing diseases, it can reduce healthcare expenditures by the early detection of diseases and decrease the longevity of diseases
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It can draw in more than the projected revenue, because of the possibility of increased usage on a daily basis
A Great Investment for Northwestern Memorial Physicians
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The MRI produces a clear and concise image of the internal organs for physicians to view (MRI, 2019)
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Enables the physician to have multiple views of a problem area due to the ability to take multiple images for multiple directions all at one time (MRI, 2019)
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“Radiology services, such as MRI, often generate the largest revenue and profit margin in small hospitals and many offices” (Add CT or MRI to Improve Revenue, 2019)
A Great Investment for Patients
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MRI is potentially one of the best imaging modalities for children since unlike CT, it does not have any ionizing radiation that could potentially be harmful (Magnetic Resonance Imaging)
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Cost of Operation 1.
Use of Cooling and Power Systems (How Much? 2014)
a.
The cooling system is pertinent to the satisfaction of the patient and the daily operation of the MRI scanner (Thoma & Ogden, 2018)
b.
For a new MRI scanner, the estimated cost to power the cooling system per month is $3,500 (How Much? 2014)
2.
Additional Required Products for Operation
a.
Contrast Dye: Magnetic liquid used to produce a more clear and concise image of certain elements within the body (Reed, 2019)
Cost of Operation “A typical MRI cooling system relies on a dedicated chilled water system to supply the cold water that cools the various components of the MRI scanner” (10)
Source---(MRI Chiller)
Cost of Operation ●
The formal name of the contrast dye is gadolinium
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Contrast dye used in all MRI scanners produce images like the image to the right
Source---Sellman, 2019
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Changes to the Facility
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As with any incorporation of new equipment, there will be some renovations that will have to take place
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Plumbing and electrical wiring are minimum changes that will be made to the facility ●
Reconstruction or new construction of the specific room that will house the MRI scanner ●
Set up of MRI tech training room (How Much? 2014)
Plumbing and Electrical Wiring
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The MRI scanner is such a complex yet beneficial piece of equipment that it calls for specialized plumbing and electrical wiring
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Site specific drawings are required to ensure there is a specific outline for electrical runs
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As stated in the purchase details, the installation is included which is the beauty of it all
MRI Tech Training Room
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This will be the designated space for all specified persons who will operate the MRI scanner
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It’s not a huge accomodation, but it is deemed necessary to ensure proper operation of a profitable equipment
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Necessary Training ●
Employees responsible for operating the MRI scanner will need to be trained on the following:
○
Patient Care
MRI Equipment Safety & Ethics (MRI Technologist Job Description)
Return on Investment
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The total purchase of the equipment $4,400,000
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The total amount of revenue that can be generated from this capital purchase is $600,000 per year at 50% capacity. ●
The life expectancy is 10 years which would be a total revenue of $6,000,000
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Granted the equipment has no high level of complications, there will be a gain of $1,600,00.
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The potential gain could increase depending on the increased usage of the equipment
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This capital purchase will yield a ROI of 13.6%
Conclusion of Pros
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The 3T (3 Tesla) MRI scanner has short period of time for construction and uptime, which is on 90 days. ●
The capital purchase of the MRI scanner in the facility could lead to use of additional services which in turn could yield more profit (Baker, 2010)
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Although the MRI scanner has two components associated with it’s use which are professional and technical, physicians are able to bill for both components. (Baker, 2010)
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Studies have shown the physicians have a greater usage of MRI, which reassures this capital of purchase will in no way, shape or form be a waste (Wu et. al, 2013).
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According to des-Bordes & Buyuktahtakin (2017), “MRI machines in use worldwide total to more than 25,000.” Therefore, they are plentiful in use and also in high demand.
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References
Benefits and Risks. (2017). Retrieved from https://www.fda.gov/radiation-emitting-
products/mri-magnetic-resonance-imaging/benefits-and-risks
MRI. (2019). Retrieved from https://www.cancerquest.org/patients/detection-and-
diagnosis/magnetic-resonance-imaging-mri.
Add CT or MRI to Improve Revenue, Patient Care. (2019). Retrieved from https://www.providianmedical.com/add-ct-or-mri-to-improve-revenue-patient-care/.
Magnetic Resonance Imaging (MRI). (n.d.). Retrieved from https://www.nibib.nih.gov/science-education/science-topics/magnetic-resonance-imaging-
mri.
MRI Technologist Job Description. (n.d.). Retrieved from https://www.healthcarepathway.com/health-care-careers/mri-technologist/#.XbsskdiovT8.
References
Thoma, C., & Ogden, C. (2018, April 3). MRI Machine Cooling is Critical to Patient Satisfaction and Reliability. Retrieved from https://blog.se.com/healthcare/2018/03/23/mri-machine-cooling-reliability-patient-
satisfaction/.
Sellman, T. (2019, April 17). Need to Know: Do I Need Contrast Dye for an MRI? Retrieved from https://multiplesclerosisnewstoday.com/2019/03/12/need-to-know-
do-i-need-contrast-dye-gadolinium-mri/.
MRI Chiller, MRI Cooling System and Medical Chiller Manufacturer. (n.d.). Retrieved from https://www.topchiller.com/mri-chiller/.
Reed, C. (2019) How Much Does an MRI Cost? Retrieved from