For the past several decades in healthcare, inventory has been managed independently from the rest of the business of providing healthcare. When you step back and look at how supplies impact the business of providing healthcare, you’ll see that hospitals can benefit greatly from extending the visibility of supplies to clinical documentation and billing. Charges […]
Increasing Procedural Revenue Read More »
As discussed in a recent article, recalled medical devices continue to be a patient safety and financial concern for hospitals and insurers. A recent study by Medicare estimated that over a 10 year span, they spent over $1.5 billion on surgeries and follow-up for over 73,000 patients implanted with one of seven defective heart devices.
Medicare To Consider Tracking Unique IDs For Medical Implants Read More »
Recalled medical devices continue to be a patient safety and financial concern for hospitals and insurers. A recent study by Medicare estimated that over a 10 year span, they spent over $1.5 billion on surgeries and follow-up for over 73,000 patients implanted with one of seven defective heart devices. With such a staggering sum spent
Why Tracking Down Patients With Recalled Implants Is Hard Even With Unique IDs Read More »
Consignment items have been a frequent subject of conversations we have with inventory managers in procedural areas of hospitals. Many hospitals that we’ve visited have a mix of consigned and owned products in their inventory. However, when you dig deeper you’ll find that many supplies were added to inventory as consigned or owned for inconsistent
How to Set a Consignment Strategy Read More »
In a walkthrough of a major academic hospital in the Northeast US, the Chief of Surgery was lamenting how little space she had for new operations. The new hybrid Operating Room she was planning was going to be larger than their typical OR, making the issues even worse. As we walked through the ORs, a
How Much Is Consignment Costing Your Hospital? Read More »
Today, most hospitals are starting to understand what items and supplies they use by looking at data coming out of their documentation or materials management systems. Maybe they even go a step further to standardize on certain products (it seems like every hospital has a “Product Standardization Committee” and/or “Value Analysis Committee”). But does your
Do You Hear Too Many Footsteps? Read More »
For those directly involved with patient care, supply management for patient procedures or risk assessment, how does your team effectively manage the inventory of implantable items that are about to expire? Or more importantly, the items that are already expired? When we look at how the procedure areas in hospitals – ORs, Interventional Radiology, Cath
Minimizing Patient Risk Through Automated Inventory Management Read More »
Massachusetts General Hospital (MGH), the Boston-based, #3 ranked hospital according to US News and World Report, has successfully deployed RFID-based technology from Mobile Aspects to automate charge capture and inventory management across its procedural areas. MGH performs about 650,000 radiology examinations annually, and the Interventional Radiology (IR) department carries out around 15,500 procedures. In 2001,
How Massachusetts General Hospital Re-Captured $1 Million in Missing Revenue Read More »
Why Explore Supply Tracking Automation? Hospitals and health systems in the US are typically generating annual revenues in the hundreds of millions to billions of dollars. Their profit margins are razor thin and getting squeezed tighter each day. Yet hospitals, and specifically their procedural areas like the ORs, Cath Labs and Interventional Radiology, are sitting
Comparing Supply Tracking Technologies Read More »
A recent survey conducted by Cardinal Health showed that 24% of hospital staff have seen or heard of an expired product being used on a patient during a procedure (original article here). This comes as no surprise, as we have witnessed the usage of expired inventory at hospitals first-hand. Without the proper processes and vigilance
How Your Medical Devices Can Tell You When They’re About To Expire Read More »