CNA Warranty, MVP to provide cost-effective equipment maintenance coverage for hospitals

CNA recently announced an expansion of its current offerings to include equipment maintenance coverage. Through a collaboration between CNA Warranty and Maintenance Value Plan (MVP), this program will provide an alternative solution for the maintenance of complex medical/healthcare equipment - laboratory, diagnostic, imaging, surgical, radiation oncology, office - commonly used within hospitals and allied healthcare facilities.

“This mutually beneficial relationship allows CNA to offer a cost-effective alternative to our customers and MVP to gain access to our distribution and customer base.”

"Most customers are familiar with service contracts offered by original equipment manufacturers (OEM); however, our equipment maintenance coverage offers an alternative with the opportunity for savings through lower monthly costs, cash flow improvements and overall operational efficiencies," said Brian Loebach, senior vice president of Warranty and Alternative Risks, CNA.

When compared to a traditional OEM, CNA's equipment maintenance program offers additional advantages, including:

• May provide approximately 15%-40% savings over an OEM service contract.
• The facility pays a pre-determined coverage cost and a separate self insured retention is established. If the retention is exceeded, CNA will reimburse the facility for covered repair and service costs.
• MVP has a network of qualified vendors that provide service/parts at reduced rates compared to those charged by OEM.
• There are no restrictions on the customer's choice for service providers, including OEM, third-party or in-house service personnel.
• Pre-approval is not required for repairs.
• The program provides coverage for both preventative and corrective maintenance.

Loebach continued: "This mutually beneficial relationship allows CNA to offer a cost-effective alternative to our customers and MVP to gain access to our distribution and customer base."