6 Benefits a Hospital can get in Using Medical Inventory Management Software

The healthcare industry is a continually changing field. It has never stayed still even for just a moment, so healthcare providers cannot afford to be patient when it comes to offering continuity of care to patients. Treatments and prescriptions are consistently progressing and there is also careful scrutiny of medical facilities or equipment as well as internal laws. By adoptingeffective medical inventory management software into the day to day operations of hospitals, it can be assured that medical equipment and supplies will always be up-to-date, tracked and monitored as efficiently as possible.

Why there is a need to use medical inventory management software

There is quite a huge rise in the number of hospital admissions. This is attributed to the on-going rise in the average person’s life span, a growing population in developed and even developing countries, as well as better access for everyone to healthcare services. Because of this surge, each year the medical industry struggles to keep up with growing costs and obligations thrown to them. Combined with a lack of proper system in place, this makes it more likely that adherence with regulations, improvement with regard to returns on investment, and adequately optimizing workflows can be somewhat challenging for medical institutions.

Medical facilities are now using medical inventory management system to address these problems to enhance general effectiveness and productivity. The entire hospital staff can actually benefit from this – from custodial personnel, administrative authorities, physicians, as well as patients. One of the hospital team’s key members is the doctor. They have demanding work, and they just get significantly harder as hospitals become more and more crowded. Approximately 1 in 2 doctors report that they are experiencing at least one burnout manifestation. This can result to frustration, ineffective quality of care, and sometimes even medical mistakes.

To expedite the hospital production chain, automated medical inventory management software is a must for a busy hospital. These inventory management systems usually include technologies used every day in a healthcare setting to monitor and track inventory and equipment. To facilitate accurate and reliable tracking and monitoring, they often use barcodes and RFID labels with specific serial numbers for each inventory product. Healthcare professionals can easily scan barcodes using mobile scanners or machines and the records or information will then be stored in the system; at the same time, instant data capture guarantees that there is accurate reporting for tracking and inventory.

A cloud-based medical inventory management software also enables healthcare professionals to detect whether products have already been recalled or have been damaged and helps them to be proactive in preventing patients from receiving such products or medicines. In addition, automated inventory management allows identification of commonly used medicines and equipment and foresees potential shortages of such. Inventory staffs have access to all the information and also can set a minimum inventory level which will place orders for products automatically before a shortage occurs. Thereby, expenditures for medical supplies and equipment will stay down as hospitals use automated inventory management software to automatically implement lean processes.

Benefits of using medical inventory management software

Here are some benefits that you can get when using medical inventory management system:

Stay updated of your medical supplies and equipment

Expiry dates are crucial to preserving healthcare standards – may it be connected to life-saving medication or medical devices. They let healthcare providers and hospitals know on which day these supplies have to be used by and/or how long they can still be used until there is a need for replacement. Those out-of-date equipment and medications may pose significant health hazards, so you always need to monitor and track their expiry dates.

With the use of medical inventory system, you will be able to:

  1. Sort through medical items which are in stock basing on their expiry dates. This, in turn, will decrease potential waste of the items.
  2. Generate real-time inventory figures accessible at any and all times for hospital personnel.
  3. Focus on ensuring that all regulated substances comply with current regulations or pedigree provisions.
  4. May it be in a single location or in multiple sites or warehouse it can still manage accurately the inventory, medical equipment and materials.
  5. There is an ease in transfer of medical supplies in case there is shortage in one location.

Can save a lot of time

You can forget spreadsheets and paper trails for your pile-high documents when you use automated medical inventory management software. Tasks can be done even quicker by tagging with a distinct barcode or QR code for each inventory item. This facilitates personnel to monitor medical devices efficiently to ensure a credible database and also improve turnaround times. All of this helps healthcare providers to advance through operational delays and concentrate about what really matters–the patients.

Easy access and readily available supplies and equipment when needed

Healthcare providers tend to work with numerous emergencies on a daily basis, many of which warrant the use of costly medical devices like PET scanners or pumps for infusion. These devices have a restricted lifespan and must be cycled out in accordance with medical regulations. Hospitals must have a stable system in place so that replacements can be obtained on time if ever there is a need. This is necessary both for expensive items to be purchased in advance and for high-volume supplies that are needed to be constantly replenished.

Apart from this, providers also need to book beforehand certain medical equipment and supplies. This guarantees that no resources (time, money and effort) will be wasted in trying to locate equipment or find replacements at the last minute. Fortunately for healthcare providers, with the assistance of medical inventory management software, both procurement and booking of medical supplies become remarkably easy, eradicating inefficiencies all throughout.

Optimize the effectiveness of equipment

Under any conditions, hospital equipment must be functioning well. Although plans must be really made for unforeseen circumstances such as electricity blackouts, let us also not neglect to have medical equipment and devices undergo maintenance on a regular basis. It is best to plan equipment maintenance in a way that it will limit disruption by the use of a software solution to schedule repair and service appointments in advance. A planned maintenance system may help ineliminating downtime for equipment and devices, enhancement of the efficacy of operations via regular inspections, lower down operating expenses that are usually caused by premature replacements of medical supplies and improves hospital safety and as well as enhance quality control. All of these make these supplies and devices to meet and even exceed conformance and health and safety regulations that are absolutely vital to the unceasing trust in hospital facilities. 

Monitors recalls and reduce expired medical supplies

Seeing pharmacies that are housed inside hospitals are not uncommon. These pharmacies usually stock and supply a range of products such as medications, injections, and Intravenous fluids. Most of the medical supplies have only a restricted shelf-life that requires proper disposal when it already expires.Some supplies even need to be preserved at a special storage container, in a certain temperature, just to safeguard them from potential damage.

In not having medical inventory management software in place to enable monitoring and for easy identification of expired medical supplies imposes a big risk. Research had showed that there are about a third of all hospital employees who have seen or known about expired products that are used on or given to patients. This is quite an alarming claim, but fortunately, this is also something which can be easily prevented.

The use of medical inventory management software lets employees to track inventory from acquisition to consumption and send warning messages whenever an item is on the verge of expiration. And as such, it guarantees best practices and helps healthcare professionals prevent expensive malpractice related suits.

Augment protection via check-in of inventories

Hospitals are advanced facilities that accommodate patients of all sorts. Because of this, they are packed with several variants of equipment and devices wherein each has a particular function, storage requirements and specifications. If there is no effective inventory software to organize these various supplies, things can quite easily get lost, damage or misplaced. Items can sometimes be misused pretty easily attributed to the deficiency of appropriate check-in and checkout systems.Such misdeeds would become a problem for healthcare professionals and end up causing workflow obstructions.

Automated medical inventory management enables employees to track possession of all properties to a central database in order to eliminate such situations. This will also make it simpler to track and monitor the use of devices, reducing the likelihood of any fraudulent activity.

Final Thoughts

In this digital age, it is just the right time for hospitals to be investing in a cloud or web based medical inventory management software. It is apparent that to monitor the use and possession of medical supplies, hospitals will need more than just a typical spreadsheet.They are now confronted with increased response times, facilities misuse, terrible record keeping, and considerable delays.

Automated medical inventory management software can enable healthcare entities to preclude many of these associated problems in relation to additional expense, productivity, safety, and more.This strips away a lot of additional burdens from providers and gives them the resources they need to enhance the quality of service to all their patients.