Wardmore introduces Utilization Pricing: ICU beds billed by the occupied hour

NASHVILLE, Tenn., March 8, 2016 — Wardmore Health Capital today introduced Utilization Pricing, under which a hospital pays for each intensive-care bed by the hour it is occupied. Occupancy is measured by the bed’s own integrated scale and reported through the manufacturer’s remote-service connection, so the hospital does not keep any new records.

Each agreement sets a rate per occupied bed-hour, fixed for the term, and a minimum monthly commitment. The first agreement covers fourteen beds in the intensive-care unit of a 190-bed hospital in Alabama.

“A bed that is empty is not earning anything for the hospital, so it should not be costing very much either,” said Douglas Rennick, Chief Executive Officer.