An overview of how two world class research institutions reduced operating expenses on equipment service contracts on their lab and scientific research instruments.
1. CASE STUDY
Insurance Strategies, Inc.
RESEARCH 500 Elm Grove Road, Suite 101 Elm Grove, WI 53133
A Tale of Two Independent Research Institutions
Profile: Two (2) Independent Research Institutions
Principal Investigators: 159 (combined)
Scientific Staff: 1,500 (combined)
Number of Centers, Labs & Core Facilities: 18 + (combined)
Major Area’s of Study: Molecular Biology and Genetics, Neurosciences, Plant Biology, Cancer and Aging
including Neurodegenerative Diseases
Although both institutions operate independently, the procurement and facility managers collaborate on many
procurement and strategic initiatives.
After a joint presentation to both Directors of Procurement and key staff, it was agreed to proceed with the Initial
Study in order to determine what the overall savings impact would be for both institutions.
The on site study was completed at each institution in about 4-5 hours ending with an exit interview where the
agreements, baseline costs and related data was reviewed and final “to-do’s” discussed.
Approximately thirty (30) days following the study, the recommendations were delivered and the program was
again reviewed with Procurement staff and others involved in the various instruments across the campuses. Both
institutions reviewed company financials and references, reviewed the proposals with Finance and enrolled in the
program on July 1st.
About Insurance Strategies
The implementation process was expedited as the
institutions both required immediate coverage and We are a Midwestern based company focused on
plans were made to arrive on site to physically tag and providing expense reduction strategies to institutions of
inventory all equipment enrolled in the program. higher education and research. Our consultative
approach to understanding your unique needs and
The initial hard dollar savings was confirmed to be requirements means there are no fees and no commitments
19% less than existing contracts with no change in to have the Initial Study performed on your equipment
maintenance spend. In addition to equipment
vendors or coverage. Administrative savings was
maintenance cost reduction programs, our strategic
valued internally as the institutions would be reducing
alliances allow us to introduce your institution to
the number of purchase orders and invoices to process additional expense reduction opportunities. We can also
as well as significantly fewer maintenance agreements recommend an extremely competitive group health care
to manage and renew. Both institutions were able to provider which has a track record of reducing costs and
cap their budget with no price increase for three years. improving coverage’s for institutions with 50 lives and
more.
Let our collective experience benefit your bottom line!
SERVING RESEARCH INSTITUTIONS NATIONWIDE
