In an age of record increases in both cancer and heart disease, hospital admissions are on a steady rise. Medical facilities are finding that it is hard to maximize workflow, streamline inventory procedures, comply with regulations, and attain cost savings. An effective optimized inventory management system is critical to improving overall productivity. In this era of health care cost containment, reducing waste, and maintaining quality standards, healthcare facilities must find a way to improve the inventory management system of a healthcare facility. If the process is not streamlined, the results can be disastrous.
Inventory management system benefits
There are many benefits from using Esri based asset Tracking. One is the ability to prevent misuse of the equipment and capture more accurate and complete data. Today’s automated inventory management systems (AIMS) allow for “data capture” of patient, staff, and equipment data. Using AIMS, healthcare facilities can capture patient information which is entered into the system, including:
- Demographics
- Vital signs
- Medications on hand and date prescribed
- The number of patients seen per day
- Length of time on office premises
- The amount of time the patient stays, and many more.
Complete and accurate inventory management system
Another advantage to a well-implemented AIMS system is the reduction of errors in inventory management. Improper data capture can result in inaccurate or incomplete item data. Also, healthcare companies can avoid the use of duplicate items by using AIMS. Duplication is the number one cause of lost revenue in the healthcare industry. A complete and accurate inventory management system ensures that duplicate items are not stored. Additionally, AIMS can be programmed to reduce the need for back-ordering by utilizing uniform scheduling principles.
As with any business system, healthcare facilities should consider their options before making a purchase. How inventory management software can benefit the organization? Depending on the type of system purchased, the advantages can be tremendous. Some systems include single entry or double-entry bookkeeping, barcode technology, and integrated database management. The type of system chosen will depend on the needs of the facility and the business owners.
Improving productivity
The primary reason to purchase an inventory management system for medical companies is to improve productivity. Improving productivity means reducing the time spent searching for needed items while increasing the time spent providing care to patients. It also means reducing the waste of precious time and human capital by streamlining workflow processes and improving patient care. The system can help increase profitability by eliminating last-minute shopping excursions and excess inventory losses in the long run. In addition, improved productivity allows medical facilities to offer better patient care at lower costs.
Managing inventory management systems has become essential to hospitals and other medical facilities due to the constantly growing size and changing trends in the medical field. It is vital to develop sound inventory management practices to remain competitive. A good system will allow for the collection and accurate recording of up-to-date data regarding live patient care. You can use this information to access required data to resolve the issue before they arise.
Provides multiple benefits to healthcare facilities
An inventory management system provides multiple benefits to facilities, including:
- Investment protection is one of its essential features. The system protects assets from loss due to delayed or unexpected delivery of necessary items.
- Inventory management software offers medical companies the ability to accurately calculate and estimate patient care costs.
- Investment protection insurance helps to reduce premiums paid for health care insurance by deferring excessive claims due to patient care delays and missed appointments.
The advantages of managing inventory management systems are apparent. In addition to investment protection, medical supplies stored in an efficient facility are more likely to be purchased when needed. Accurate data regarding hospital inventory management software allows for improved management of existing and anticipated hospital needs, which leads to decreased inventory costs and higher overall profits. And finally, using a hospital inventory management system will allow medical facilities to provide their patients with the best possible medical supplies.