Importance of Hospital Inventory Management in the Healthcare Industry
The proliferation of new technology in healthcare is exploding. The healthcare sector in the United States comprises of a total of 5,534 registered hospitals which cater to around 35,158,934 patients as recorded by the American Hospital Association. During the next few years, North America is expected to dominate the healthcare asset management sector and expected to grow at a rate of 35% between 2015-2020. The reason behind North America’s rapid improvement is found to be its large share of real-time location systems (RTLS). It has been estimated that the use of such systems will boost up investment in the healthcare sector as well.
Keeping in mind this huge number, hospitals require a large number of tools and equipment to function. So, what can hospitals do to ensure flawless management of daily work routines? To answer this question, International Journal of Health Geographics suggests an increase in the use of real-time locating systems for the healthcare sector.
The use of RTLS enables hospitals to implement robust inventory management practices which entail the following:
- Setting forth a stock management system for optimal workflows
- Automated check-in and check-out to keep track of custodianship
- Record depreciation of perishable hospital tools and equipment
- Store all vendor details for future reference and seamless reorders
- Get inventory transfer location updates to maximize security
Using Hospital Equipment Maintenance Software to Address Healthcare Challenges
Healthcare facilities struggle when connecting two different types of information – inventory management data with procedural data. It is not an easy task. With a large quantity of expensive and sensitive equipment involved, healthcare sector tends to spend a substantial amount of money on hospital equipment maintenance. The global healthcare market for asset management is predicted to expand to USD 29,603 Million by 2020. The leading causes for this growth include rising concerns for safety measures in the hospital industry.
As the number of patients increases every year, the healthcare sector is forced to find more effective mechanisms to handle hospital workflows. Major factors pushing this trend include the need for eliminating excess in costs, increased reliance on technology and improved staff productivity. To attain these objectives, the health sector prefers all-in-one cloud-based solution packages for inventory control. Continue reading
In 2016, at least $50,000 worth of equipment stolen from the United Memorial Medical Center surfaced on eBay. The actual damage was estimated to be over $100,000. The hospital also admitted that they hadn’t noticed the missing equipment for over a 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 such high stakes, hospital equipment tracking is a necessity for all healthcare centers. Continue reading