The Complete Guide to Hospital Inventory Management Best Practices

hospital asset management

Hazards associated with medical equipment management  

Healthcare institutions are required to meet strict quality standards set by the government. If they fail to do so, they might be forced to shut down operations and incur huge losses. The need for effective equipment tracking is amplified in the healthcare sector because of the cost of precious human lives dependent on it. A malfunctioning tool or expired drug can cause a patient irreparable damage. According to medical journals, some of the technical challenges faced by hospitals include:

Poor data management: Most doctors rely on information stored in computers to carry out daily tasks. Due to the presence of on-premise manual databases, the probability of human error goes up. This leads to incorrect and missing records which can spell disaster for hospitals. Continue reading

How Hospital Asset Management Tackles Major Industry Problems

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Did you know that around 45% of hospitals believe they do not manage their medical assets properly. In addition, the average hospital worker spends an average of 72 minutes searching for assets during each shift! Within the medical industry, unseen teams work hard behind the scenes to manage a variety of medical assets that help improve the prospects of visitors, patients and even healthcare professionals. Maximizing the reliability and efficiency of these resources happens to be a major challenge for hospitals today, but all hope is not lost!

The healthcare industry and hospital asset management

It is certainly not a stretch to think about how troublesome it is for the healthcare industry to put up with scores of expensive assets, huge amounts of consumable inventory, and a long list of expiration dates and warranties to juggle effectively. Healthcare is experiencing an influx of new asset classes every day, and of a growing variety! For example, hospitals have a huge number of small, mobile medical tools. All these tools need to be in great shape at all times because they are critical for a patient’s safety and health. According to the WHO, even hospitals with straightforward operational needs and only a handful of complicated assets need effective healthcare asset management – there simply is no alternative! Continue reading

How Hospitals Can Streamline With Asset Tracking Software

asset tracking software for hospitals

Did you know that 10 to 20 percent of a hospital’s inventory is misplaced or lost every year? Medical equipment, clinical supplies and other assets in hospitals are worth millions of dollars. Costly and dangerous delays in care can occur in the absence of an organized method to track and manage hospital assets. With a huge flow of patients and staff coming and leaving hospitals on a daily basis, there is a need for a quick reaction time particularly for emergency response teams.  With sudden changes in surgery timetables, the operational efficiency of the hospital is at risk. The intervention of a robust asset tracking software can keep things in order for the hospital, ensuring smooth workflows and limited downtimes. Continue reading