Compliance + Operations

Taking asset risk management to the next level

An asset risk management system can help health care organizations optimize facility performance
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As its name implies, an asset risk management system (ARMS) is much more than just a program; it is an interconnected system. In other words, developing an ARMS capable of ensuring continuous accreditation compliance is only the beginning.

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Developing an asset risk management system

To pursue operational excellence, health facilities professionals must think beyond limiting impact to the patient, staff or visitor and evolve toward bringing value into daily operations. If implemented correctly, an ARMS provides the initial data capable of supporting asset life cycle management as well as prioritizing scarce resources to efficiently and effectively meet the needs of facilities. 

Given the complexity of asset life cycle management, it is important to look at the big picture and gain an understanding of how risk supports decisions relating to the selection, commissioning, maintenance, retirement and replacement of a facility’s most valuable assets. 

Because 82% to 83% of the total cost of a facility is related to owning and operating it over its useful life, it is crucial for health care professionals to leverage many data sources to support better-informed decisions and action. The goal for any asset is to function throughout its life cycle to its greatest capabilities, all while consuming the least amount of resources possible, and limiting operational impact and downtime. 

Ultimately, the journey toward creating a more efficient building and systems must be strategic. When ARMS data is combined with data to evaluate impact on operations as well as resource consumptions, organizations are able to optimize performance and deliver services at the highest value possible. 

Furthermore, as health facilities professionals continue to build upon the solid foundation provided by an ARMS, focus begins to shift toward seeking value rather than focusing solely on up-front cost. This means prioritizing workload to maximizing existing assets and extending useful life expectancy based on priority. 

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