With the healthcare payment market continually in flux, hospitals are doing all they can to maximize the revenue that they receive for their work. Not a dollar can slip through the cracks with the narrow margins that most hospitals are operating at. Many hospitals have recognized the merits of a strong clinical documentation improvement (CDI) […]
How To Maximize Revenue With Clinical Documentation Improvements Read More »
A materials management system plays a vital part of any hospital because it is accountable for all the inventory that is stored inhouse and is the source of information pertaining to any material that is used in a hospital. These systems, like PeopleSoft, Lawson or Infor, manage vendor contracts, maintain pricing, identify consigned or owned
Creating safe, efficient and accurate tissue management processes has become a top priority for PeriOperative departments across the country. Regulatory requirements designed to protect patients continue to evolve and expand with the growth of tissue usage and advances in surgical life-saving and life-enhancing procedures. Approximately 1.75 million people are currently receiving tissue implants annually just
Meeting Joint Commission Tissue Tracking Requirements Read More »
Physicians and other clinicians in hospitals have been increasingly vocal about their frustration with the time they are spending documenting encounters in EMRs instead of focusing on patient care. Backing up that claim is a study published in the Annals of Internal Medicine that found that only 27% of the average day is spent by
Return Clinician Time To Patients With EMR Improvements Read More »
A recent study by Navigant Consulting concluded that the average hospital could achieve supply savings of nearly $10 million annually, or 17.8%, by pursuing some basic strategic initiatives. With hospital margins often hovering near breakeven, that is an additional $10 million in savings that can flow directly to the bottom line. The other key finding
Hospital Supplies– A $23 Billion Savings Opportunity? 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 »