Business Finance Homework Help

Chapter 14 is titled “Contract Management” and discusses the following topics:

• Understand different types of contracts.
• Understand when to use long-term contracts.
• Understand legal alternatives to contractual disputes

Wall Street Journal, “Autonomous Robots are Coming to the Operating Room,” Link:  https://www.wsj.com/articles/autonomous-robots-are-coming-to-the-operating-room-11599786000 (Links to an external site.)

Intuitive Surgical: “Intuitive for Patients: Robotic-assisted surgery as a minimally invasive option,” Link:  https://www.davincisurgery.com/ (Links to an external site.)

Healthgrades: “7 Common Robotic Surgeries,” Link: https://www.healthgrades.com/right-care/tests-and-procedures/7-common-robotic-surgeries (Links to an external site.)

Please review the assigned materials before answering the questions below.

Questions ——————————————————————-

Assume that you are the purchasing manager in charge of securing equipment for a new hospital next year.  In particular, you have been asked to acquire equipment for robotic-assisted heart surgery.  The hospital is interested in the Da Vinci Surgical System sold by Intuitive Surgical. Link:  https://www.davincisurgery.com/procedures/cardiac-surgery## (Links to an external site.)

1. Provide a detailed description of a contract that would be best suited for this acquisition next year. What would be the critical elements in the contract? Why?
2. The CEO of this hospital read the Wall Street article about autonomous robotic surgery in the future and is concerned about purchasing equipment that will be obsolete in a few years. How would you design the contract to address her concerns?  Why?
3. If there is a contract dispute for the new autonomous robotic equipment discussed in the Wall Street article, what would be the preferable means of settling the dispute? Why?
4. Please provide an insightful question about contract management for healthcare organizations.