In the dynamic world of healthcare, efficient inventory management can make all the difference in delivering quality patient care and maintaining a financially sustainable operation. Hospital administrators and clinicians alike understand the challenges of keeping track of a vast array of supplies, devices, and implants. In this blog, we’ll explore how the combined power of […]
The healthcare supply chain has come a long way over the past few decades. For most hospitals, the supply chain included mainly manual processes for obtaining resources, managing supplies, and delivering goods and services to providers and patients. Because there are thousands of products and services that go through a hospital’s supply chain, along with
How a Software Solution Can Help Automate the Bill-Only Item Process in Hospitals Read More »
Healthcare supply chain management has come a long way. Just a decade ago the supply chain in hospitals included mainly manual processes for obtaining resources, managing supplies, and delivering goods and services to providers and patients. Now, most hospitals no longer rely on manual processes to keep track of their supplies. While there are still
How Supply Chain in the Healthcare Industry has Evolved, and Where It’s Going From Here Read More »
More than ever, today’s healthcare environment is calling for hospitals and health systems to rein in their costs. With all of the pressures of Covid-19 placed on top of prior concerns such as declining reimbursements and the shift to value-based care, hospitals are quickly looking to reduce costs while maintaining high standards of care. One
Many hospitals utilize inventory management software to track the usage of their implants and supplies in order to know when to re-order them. They can also mine this data to understand which products are overstocked or understocked and can update their PAR levels as required. This can lead to an effective and efficient inventory management
According to a recent survey, health system operating margins improved in 2018, but still remained significantly below 2015 levels. The analysis, conducted by Navigant, looked at the financial performance of over 100 large health systems that together own 44% of total hospitals in the US. The survey revealed that the average health system improved its
Survey: Health System Profit Margins Up, But Still Below 2015 Levels Read More »
A new survey conducted by Sage Growth Partners and sponsored by Ingenious Med revealed that most hospitals still have a long way to go to clean up their revenue cycle and charge capture processes. The survey reached out to over 100 revenue cycle leaders at hospitals, 78% of whom believe that the charge capture process
Survey: The Charge Capture Function At Hospitals Is Too Slow And Error-Prone Read More »
The United States Food & Drug Administration (FDA) and its European equivalents are currently conducting a real-world pilot aimed at bringing unique device identifiers (UDIs) one step closer to reality. UDIs have been a long-term dream for many in healthcare, who view the ability to track and trace medical devices using unique item-level codes as
UDI One Step Closer To Reality Read More »
Yet another study has been published showing the disappointing return on investment that hospitals are experiencing with their electronic health record (EHR) implementations. The new study, published in the Journal of the American Medical Association (JAMA), showed that the costs of administering billing and insurance-related functions may actually have increased following EHR roll-outs. This is
Disappointed With The ROI From Your EHR Investment? You’re Not Alone Read More »
Historically, the cost of a surgical procedure has been a difficult equation to solve. As the US healthcare system moves more and more toward a value-based system, hospitals require now more than ever an accurate understanding of their procedure costs. These accurate procedure costs then need to be compared to outcomes in order to perform
The Key To Figuring Out Your Cost Per Case Read More »