Maintenance Value Program

Consolidate your equipment maintenance into one simple agreement

Maintenance Value Plan (MVP), a division of Global Risk Services, Ltd. (GRS), is a nationwide leader in equipment maintenance programs. The MVP Program is an enterprise cost management solution. It is designed to enable an organization to significantly reduce and better manage medical equipment maintenance & repair costs as an alternative to the entrenched yet inefficient traditional equipment service contracts of old. The equipment maintenance program consolidates your current vendor maintenance agreements under one comprehensive program, helping to eliminate the high costs and inefficiencies of multiple vendor service agreements while maintaining your control over who services the equipment used in your healthcare facility.

A smart alternative to OEM service agreements A more efficient and cost-effective maintenance program

Hospitals and healthcare facilities rely upon high-tech medical equipment, such as laboratory, diagnostic imaging, radiation oncology and surgical equipment for the day-to-day operations of the facility. You cannot afford to lose revenue due to poor or improperly scheduled maintenance. Similarly, you should not have to pay for services you do not need. By consolidating multiple equipment service agreements into one MVP equipment maintenance agreement, you can schedule the preventive and corrective maintenance your equipment needs and also experience significant savings through lower monthly costs, improved cash flow and overall operational efficiencies. Substantial advantages compared to a traditional OEM service agreement

• Cash flow is improved with approximately 15%-40% savings over an OEM service agreement.
• Your facility pays a pre-determined coverage cost and a separate retention is established. If the retention is exceeded, facility will be reimbursed for covered repairs and service costs.
• MVP has a network of qualified vendors that provide service/parts at significantly reduced rates compared to those charged by the OEM.
• There are no restrictions on your choice of service providers, including the OEM, third-party or in-house service personnel.
• Pre-approval is not required for repairs less than $10,000.
• The program provides coverage for both preventive and corrective maintenance.
• The program will cap your maintenance budget.
• You decide who repairs your equipment and when your equipment is serviced.
• Information is available at www.maintenancevalueplan.com, including online claim reports, equipment listings and preventive maintenance reports.

MVP covers a broad range of equipment

This list is a representation of the types of equipment covered under the Maintenance Value Plan program and is not intended to be all-inclusive.

Financial calculation

Here is an example of how this program can save money for your facility: Under Existing Service Agreements: Total annual cost of all service agreements $ 1,000,000 With Equipment Maintenance Program Coverage: MVP Cost $ 250,000 Retention $ 600,000 Preventive Maintenance + (Included) Total Equipment Maintenance Program Cost $ 850,000 Total Annual Cost of all Service Agreements $ 1,000,000 Total Equipment Maintenance Program Cost – $ 850,000 Savings $ 150,000 Potential Additional Savings: Retention $ 600,000 Actual Repair Costs – $ 500,000 Additional Savings $ 100,000 *Total Potential Savings $ 250,000 *Actual savings will vary by client and are not guaranteed.

Frequently Asked Questions

Who performs equipment repairs under this program? While you can achieve more efficient use of your resources at a lower overall cost by utilizing GRS qualified and cost-effective service partners, you can select vendors with whom you have an existing relationship. By using GRS service partners, you will receive preferred pricing, priority response times and quality equipment repairs. To meet the full range of your maintenance needs, you can use your in-house technical staff, independent service organizations or original equipment manufacturers. What repairs have to be approved in advance? You will need to notify GRS whenever you expect a repair or replacement to exceed $10,000. In most cases, repair costs can be greatly reduced by researching parts sources, and in some cases, by selecting an alternate vendor. GRS technical support staff is available 24/7 to assist you with this process, and typically, you will receive your search results within an hour. In case of emergency, you may proceed with needed repairs and notify GRS as soon as possible without penalty. Is preventive maintenance included in the program? Yes, coverage is provided for repairs and preventive maintenance on covered equipment. These are scheduled according to manufacturer recommendations, the specific use of the equipment and other engineering guidelines. How can the program assist me in controlling my maintenance repair costs? GRS has a network of service partners that will provide your business with quality maintenance repair, priority response time and preferred pricing. GRS maintains profiles of independent service providers to address your unique service needs. In addition, GRS tracks all repairs to monitor cost efficiency, analyze industry data and provide cost-saving recommendations. What do I need to provide to submit a claim? GRS requires a vendor field service report, including a vendor invoice, or an in-house work order for a completed repair. When must a claim be submitted, and when is it processed? The field service report or in-house work order must be submitted within 60 days of the repair or scheduled maintenance, and the invoice must be submitted within 90 days of the repair. The claim will be processed within one week of receipt. What happens if the claim amount exceeds the total program cost? GRS reimburses you for all covered losses over your program costs, according to the terms and conditions of the service agreement. What is not covered under the program? The program excludes coverage that is provided by other policy types, such as property and automobile. Software, equipment upgrades, modifications, obsolete items and consumables, such as paper, lamps, toner and drums, are not covered. What services does the plan provide for my company? GRS will work closely with your staff to understand your company’s procedures, and GRS provides training to your staff and helps enhance your policies and procedures to meet the needs of the facility. Additionally, a wide array of consulting services, ranging from equipment replacement planning to comprehensive reviews of technical support services, is available. Each service plan is presented as a proposal after the scope and goals of the engagement are defined. I already have equipment breakdown coverage. Do I need MVP equipment maintenance coverage? Equipment breakdown policies typically provide coverage for a myriad of losses that may be excluded from a standard commercial property policy. The MVP equipment maintenance program provides reimbursement coverage for both preventive and corrective maintenance of the specialized medical equipment.

How it works

A retention and a service agreement cost is established, based on the equipment to be covered. If the retention is exceeded, your facility will receive reimbursement for repairs and scheduled maintenance for work performed on covered equipment. GRS also provides coverage for emergency advice and assistance on service providers and parts suppliers. Your facility benefits from immediate savings, the option to select a vendor of your choice, and reimbursement for in-house maintenance and repairs.