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 »
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 »
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 »
One of the biggest obstacles to value analysis teams within hospitals is physicians who are reluctant to switch devices or vendors. Physicians often grow attached to certain medical devices, with good reason – they have been proven to work for them and their patients. Often times, showing evidence that a substitute item with similar functionality
Be Transparent With Physicians on Pricing to Drive More Value Read More »
In talking with our hospital customers, case mix index (CMI) often comes up as a source of confusion and misunderstanding by clinical staff. CMI is widely tracked by employees on the financial side of the hospital, but not monitored nearly as closely on the clinical side, so its impact is widely misunderstood. CMI is an
Why Case Mix Index Matters To Your Hospital And How To Maximize It Read More »