Clinical Capital Planning and Equipment Formulary Management Solution

The Vendor is required to provide a comprehensive, integrated solution for capital equipment procurement, capital asset lifecycle management, and multi-year capital budgeting. Our organization aims to modernize and standardize the way we source, purchase, track, and manage medical equipment and other capital assets across departments.
- Expected to offer both a platform approach including hardware, software, and/or services to facilitate visibility into current capital assets and future asset needs, data-driven budgeting and forecasting, improved operational efficiency and cross departmental alignment, and a formulary to document and track standardized equipment and accessories selections.
- Platform that: supports lifecycle visibility and risk assessment of all capital assets. Provides workflows for requests, approvals, budgeting, and sourcing, simplifies and standardizes communication with suppliers, provides robust analytics and reporting for leadership, clinical operations, supply chain, and finance, integrates with our existing financial, procurement, and asset systems.
- The solution should support both current-year operations and multi-year strategic capital planning.
- Stakeholders to:
•    Provide detailed plan for deployment of technology including an outline of vendor project and implementation team as well as recommendations for agency team required to work with vendor collaboratively for successful system implementation
•    Deploy technology related to capital planning and equipment formulary management
•    Create tailored training curriculum for agency staff including but not limited to those who will access as a user but also stakeholders to the system
•    Create tailored training programs to include roll-out and change management
•    Engage with key internal stakeholders (IT, Clinical Infrastructure, Facilities, Clinical Engineering, and other operations)
•    Integrate with existing technology platforms at agency
•    Provide implementation and go-live support for a mutually agreed upon period
•    Address other requirements as they arise
- Procurement and Equipment Sourcing
•    Access to a centralized marketplace or procurement interface for researching, comparing, and sourcing medical and facility equipment
•    Ability to communicate and collaborate with suppliers through a structured, trackable platform
•    Support for on-contract, off-contract, new, refurbished, demo, and alternative equipment sourcing
•    Configurable workflows for purchase requests, approvals, quoting, and contracting
•    Ability to load, manage, and enforce organizational purchasing standards and formularies
- Capital Asset Lifecycle and Inventory Management
•    Centralized asset registry covering all capital equipment across clinical, IT, facilities, and infrastructure departments
•    Ability to track lifecycle data: age, depreciation, maintenance history, risk, utilization, and planned replacement
•    Fleet intelligence or risk-based prioritization to identify high-risk or high-value equipment needs
•    Tools for long-term planning, replacement strategy, and compliance-driven tracking
•    Flexible workflows for capital request intake, routing, prioritization, and governance decision-making
- Capital Budgeting, Forecasting and Financial Planning
•    Multi-year capital planning and budget forecasting tools
•    Scenario modeling, risk scoring, prioritization, and asset replacement planning
•    Real-time budget tracking, expenditure visibility, and reporting
•    Integration with procurement, financial, and asset management systems
•    Automated or semi-automated budget generation and refresh cycles
- Data Analytics, Dashboarding and Decision Support
•    Dashboards for leadership, department managers, and supply-chain/finance teams
•    Comparative equipment analytics, pricing intelligence, lifecycle insights, and supplier performance
•    Audit trails for all procurement and capital-management actions
•    Reporting on spend, variance, budget vs. actuals, fleet health, and capital cycle projections
•    Exportable custom reports (PDF, Excel).