Grand Canyon University/ Cost Justification

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Capital Purchase Justification
Grand Canyon University: HCA 240

Purchasing new MRI scanners would be a good investment for the hospital. If one takes into consideration, operating costs along with repairing and purchase of the product alone. Many hospitals may consider wanting to purchase refurbished items but that would not be a good idea considering the costs to maintain and longevity of the product itself. Purchasing a brand new MRI scanner is just like the purchase of a brand new, high end car. Although it may be very expensive to purchase, there will not be so much high maintenance done in the beginning. Once the product gets very old within about ten years, then the high maintenance repairs will need to be done. All equipment requires general maintenance to insure long life but the purchase of used medical technology will pull more money out of the hospitals pockets in the long run and much sooner.

Cost of MRI equipment can range from one to three million dollars depending on how advanced it is. The construction of the product alone, can cost half a million, which adds to the total amount of the product. For example to purchase an MRI scanner for the examining of extremities, is about three hundred thousand for a brand new piece of equipment and the price nearly cuts in half if one needs to purchase the same product but used. Once an MRI product is purchased, the maintenance of such products also adds to the expenses

The average MRI technician usually makes about thirty dollars per hour or about $62,000 per year on a fixed salary. When it comes to doing repairs on any piece of technology, the repairs can get pretty expensive if the a technician is paid by the hour. Ordering brand new equipment can save money in the long run because it cuts down on so many repairs. The hospital can save a little more money by simply paying technicians hourly and not on a fixed income because it could possibly be more money spent. For example if a technician...
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