Packaging
RF Technologies(R) Introduces Safe Place(R) Usage Program Financing for Its Infant Security, Pediatric Security and ED Safety Solutions
Tuesday 09. December 2008 - Financing makes security systems accessible, especially in today's tight economy
RF Technologies(R), a leading provider of radio frequency identification systems and healthcare monitoring solutions, introduces its Safe Place Usage Program. Designed to allow hospitals easier access to the Safe Place Infant, Pediatric and ED Security Systems with the flexibility of financing, this option is especially helpful in today’s tight economy.
“We’re pleased to offer a new way for hospitals to implement Safe Place Security Systems. The Safe Place Usage Program provides hospitals the opportunity to acquire or upgrade their system with no capital outlay, plus they enjoy a committed, fixed price for the full length of the contract. The Usage Program is simple, straightforward, and a great way to reap the benefits of Safe Place,” said Warner (Chuck) Pyne III, Vice President of Sales and Marketing, Hospital Solutions, at RF Technologies.
The Safe Place Usage Program comes with the same level of system capability, support and service as actually purchasing a Safe Place Security System. In fact, the program begins with the customization of a Safe Place system to meet the needs of the individual hospital and includes installation, training, a service agreement and automatic supply replenishment of transmitters and banding material.
Making security affordable
RF Technologies decided to implement the Safe Place Usage Program to make Safe Place Security Systems more accessible to hospitals with tight capital budgets, and it can be used in conjunction with completely new installations or system upgrades. The company is seeing much interest in this new program, especially from hospitals that are having problems with capital expenses, yet are in need of a technology upgrade.
A three-year program, payments are monthly and based on just 80 percent of the hospital’s forecasted usage for the upcoming three years. These payments are fixed with an annual true-up calculation, so expenditure would increase only if the hospital exceeds its minimum commitment volumes by more than 5 percent.
Keeping hospitals’ technology current
The Safe Place Usage Program carries no long-term commitment, which is beneficial, as technology is constantly changing and improving. In addition, the program offers obsolescence protection for the full term of the agreement. Therefore, if RF Technologies introduces an upgrade that would work for the hospital’s system, the hospital can obtain the new technology as part of this program.
At the end of the three years, the hospital has no obligation to RF Technologies or its financial partner, meaning the hospital can return the system or extend the program — and it’s a decision that can be made at the end of the agreement.
“We feel we’ve developed a program that makes proper security a reality for every hospital. And, with a predictable, usage-based payment and technology obsolescence built into the program, it’s affordable and a risk-sharing proposition for our customers,” said Pyne.