Maintenance Value Plan
High-value pieces of equipment often have their own costly original equipment manufacturer (OEM) service contracts. For businesses with multiple pieces of high-value equipment, keeping track of the numerous OEM contracts and services performed can be extremely time consuming and inefficient. Plus, the total annual cost of all the service contracts can easily cost businesses $1 million or more each year.
The Maintenance Value Plan (MVP) program gives businesses the ability to consolidate myriad service contracts from multiple industry groups into one easy-to-manage program. This allows facilities to pay a predetermined contract cost and then accumulate—within the self-retention—all of those sums that are paid to vendors over the term of the contract. Consolidating contracts with MVP can save businesses on average 36% per year versus OEM service contracts, and in some years as much as 40-50% depending on their experience.
From standard office equipment like computer systems, telephone systems and audiovisual equipment, to specialty equipment like surgery systems, patient monitoring and more, the list of equipment MVP covers is broad, as are the industries covered. A partial list of covered equipment includes:
- Diagnostic imaging
- MRI scanners
- CT scanners
- Radiation therapy
- Surgery systems
- Nuclear medicine
- Ultrasound
- Mammography
- Catheterization labs
- Angio
- Facilities
- Kitchen
- IT
- Plant
Unlike the “one size fits all” programs available in the market today, MVP builds the unique set of solutions you need to solve your business equipment management issues. MVP will work with each business to identify the most essential equipment within the facility, and strategically design a program that best fits each business’s needs.
Then, savings begin from day one. Upfront costs are less than standard OEM agreements, because the customer only pays when they need service. After meeting the agreed-upon deductible, MVP covers the rest. Additionally, if the deductible isn’t exceeded, those dollars stay within the organization as additional savings.
Additional features and benefits include:
- Coverage for both repairs and preventive maintenance (PM) on covered equipment—PM helps prevent failures before they occur, reducing the risk of unanticipated interruptions
- Ability to select any service provider—no restrictions on who can be used to perform services on equipment
- No pre-approval requirement for repairs—helps avoid extended downtime and potential loss of income
- Access to a robust MVP client website—can be used to view, modify or create purchase orders; review claim status, view amendments, request equipment coverage modifications, request quotes for new equipment coverage, and view real-time reports
- Assistance in controlling maintenance repair costs—MVP tracks all repairs and analyzes the data to monitor and report on cost efficiency
- No long-term contracts—businesses set the term, and can cancel with just a 30-day notice
From standard office equipment like computer systems, telephone systems and audiovisual equipment, to specialty equipment like surgery systems, patient monitoring and more, the list of equipment MVP covers is broad, as are the industries covered. A partial list of covered equipment includes:
- Diagnostic imaging
- MRI scanners
- CT scanners
- Radiation therapy
- Surgery systems
- Nuclear medicine
- Ultrasound
- Mammography
- Catheterization labs
- Angio
- Facilities
- Kitchen
- IT
- Plant
Product resources
Resources for you
Visit the Maintenance Value Plan website for more information.
Total Hanover solution
Offer clients an account-focused solution by pairing the MVP program with a specialized industry solution offering. The MVP program is applicable for many industries, including:
Resources for your customers
MVP offers several informational PDFs that can be shared with clients to help them understand the program, including a case study, financial example flyer, overview of the MVP client website and more.
Let's start a conversation
Learn more
Contact us to see how we can help you deliver tailored solutions for your clients.
Ed Johnson
Vice President, Field Underwriting
317-208-5720
ejohnson@hanover.com
Contact MVP
MVP was established in 2004 and is now being used by hundreds of facilities in multiple states throughout the US, including hospitals, diagnostic imaging centers and radiation oncology facilities. Contact MVP for more information and to see how together we can develop a cost-saving program that’s just right for your client’s organization.
Teresa Griffin
Vice President, Operations
tgriffin@maintenancevalueplan.com
405-602-5850, ext. 205