Asset Tracking as an Inventory Management Solution for Healthcare

By March 2, 2017Asset Tracking, Blog

Asset Tracking as an Inventory Management Solution for Healthcare

Healthcare facilities and their staff rely on thousands of dollars’ worth of equipment, tools, and devices to care for patients. Not having access to many of these tools could mean life or death in certain scenarios. Healthcare costs are always a concern – whether it’s for the patient or the provider. But patients should never have to worry about an inventory management solution for healthcare and if a facility has the appropriate equipment to treat what ails them. Today’s healthcare providers have a simple and easy to use tool to eliminate that worry thanks to inventory and asset tracking software.

When you stop and think about it, millions of dollars worth of equipment and inventory is being moved from room to room and hospital to hospital every single day. For every physician, technician, nurse, and aide, there is a plethora of tools and devices to help them deliver the best in patient care. The healthcare industry faces many challenges in tracking and managing all of these assets, and the cost of one being lost, broken or even stolen can be detrimental to patient care.

Then there’s the administrative side to keep up with. Staying on top of IT equipment like computers, tablets, smartphones and their related software; office furniture and furnishings, patient forms and organizational tools, plus general medical supplies, pharmaceuticals and other tools to track.

It’s understandable that assets can get lost or misplaced due to the way they’re used by different medical professionals in different locations. But implementing an asset tracking tool as an inventory management solution for healthcare facilities to keep up with all these moving pieces has made a great impact both in time and financial savings for small doctors offices and big hospital facilities alike.

In health care, time is of the essence. With an increase in demand for health care, many medical facilities are expanding across multiple departments and campuses. Patients don’t like to wait for long periods of time to be treated and hospital staff are on a tight time schedule and need to be efficient in order to see all patients in a reasonable manner. It is estimated that anywhere from 15-20% of medical staff shifts is spent searching for needed equipment to perform their jobs. Not only does this wasted time place a strain on the budget, but it also can negatively affect patient safety and satisfaction from delayed care. And unhappy patients tell others about their experience and that can infiltrate into patient loss and lower retention rates and in the end, affect employees.

Unfortunately, theft is also a big issue facing many medical facilities and hospitals. Do a quick Google search for “hospital theft” or “medical facility theft” and you’ll see stories in the news like:

“Surgical equipment with an estimated value of nearly $300,000 has been stolen … and offered for sale on the popular Internet auction site eBay.”

“A health care professional with knowledge of the surgical inventory, said one of the stolen items was a laparoscopic camera. A complete system consisting of the camera and related equipment, can sell for $20,000”

“Officials report colonoscopes, worth approximately $25,000 each, were reported stolen from three or four local hospitals”

“A physician charged with stealing $177,022 worth of medical equipment … accused of stealing an ultrasound machine, two ultrasound probes, a video printer, a video storage device, infusion and compression pumps, an automated external defibrillator, a suction machine and a bladder scanner.”

These are incredibly expensive losses, and make a huge impact on budgets, salaries, ability to add new equipment, and not to mention their vital need for patient care. Keeping track of assets from the moment they enter the workplace is one of the easiest ways to maintain an accurate inventory of what you have, especially useful when dealing with insurance on these costly items, and employees do not have to second guess if an item is lost or if it’s been stolen once it’s entered in the asset inventory.

So what does asset tracking do in terms of healthcare inventory management? With so much to keep track of, there is a great need for efficient hospital asset tracking software. Healthcare facilities need a multi-tasking tool that makes it easy to manage patient records, locates medical equipment, provides complete access to maintenance records for each piece of equipment, and provides up to date data on each piece of equipment like where it is, who has it, and its check in/check out status. Finding an asset tracking solution that is both flexible and scalable is a must. Many asset tracking tools now come with barcode scanning software that is accessible from an employee’s own smartphone or tablet. With one click, data is instantly captured about an asset, including the option to take photos, make notes, schedule alerts for upgrades or maintenance. And with today’s asset tracking management tools, you can view the entire lifecycle of an asset anytime from anywhere.

Asset Panda features a healthcare asset tracking platform that ensures your medical team has the necessary information to access important medical assets when they are needed. Designated users can scan each asset with a built-in barcode scanner to access full histories, generate reports, track maintenance schedules, or submit help tickets on every asset scanned in.

By using Asset Panda’s flexible, easy to use application, the number of time employees spends searching for various devices, supplies, and equipment is greatly reduced. Our cloud software and mobile iOS and Android mobile apps enable employees to know the location of the assets they need in real-time, and they can easily update the database as needed so that data is always up to date.

Healthcare facilities are looking for ways to provide a high level of patient care. Don’t let searching for assets or inventory management issues deter you from that task. Try Asset Panda free for 14 days at assetpanda.com and start your guided tour today.

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