Healthcare systems are facing the same issues they have faced year over year: take care of patients and improve safety and quality within budget. On the business side of healthcare, it means you need to keep your beds full, your staff treating, your billing and payments cycling, and equipment costs contained. But this year, the impact of payment reform on revenue cycle and dwindling reimbursements are adding additional stress to the budgeting cycle.
For administrators, healthcare supply chain management concerns exist within the constraints of margin and budget. Technology costs rise year over year, while revenue sources stay steady at best. Therefore, a hospital must generate margins to keep pace with technology. To make margins, CFOs look for operational efficiency. To maintain and improve quality of care, CFOs need healthcare technology. That is the challenge for CFOs: Justify healthcare technology expense in a budget that is looking for operational efficiencies.
The value of any IT investment can be difficult to explain. A great ROI may not be enough. Because of the influx of new technologies, IT professionals are also concerned with how long the technology will be relevant and what will drive its obsolescence. Asset management programs help CIOs and CFOs make technology decisions that improve their bottom line.
Asset Management drives better IT decisions when asset management is more than a MRO program for IT devices. When you combine knowledge of use-rates with devices, you make better purchasing decisions.
- Do you need 24/7 service contracts on all of your assets? If 1 of 3 units is only used 30% of the time, perhaps coverage should be reduced.
- Do you need to buy another device, or can you re-deploy a device from your inventory that isn’t being used?
- Can you justify eliminating lease contracts for devices based on use-rates?
- Do you have a profile of your installed base, so that you can easily retire units due to their age, software version or service history?
- Do you know the average cost of the mobile devices associated with each bed?
- Do you know cost to maintain the set of mobile devices required per bed?
- Have you maximized the use of your mobile devices, eliminating overstocking and the threat of loss or theft?
It takes data to drive good asset decisions. Establishing a framework for gathering data around device use rates is critical to an asset management strategy. In addition, researching how and where assets are used enables effective deployment of assets to increase their use-rate. Understanding the average cost of service contracts for common diagnostic equipment and pumps can help you drive cost reduction without reducing the quality of care.
IT decisions need to be made based on data that optimizes use, life-cycle and maintenance. This strategy can help administration drive expense reductions without effecting labor and drive technology decisions to maximize financial success.
Apptricity provides asset management solutions for all industries to protect and maximize the use of assets. RFID tracking enables real-time tracking and location. Software supports inventory, life-cycle management and reporting to enable effective deployment of assets. This asset management solution:
- Eliminates manual processes, lowering the total cost of ownership
- Provides real-time asset data across all locations using radio frequency identification (RFID) or barcodes as well as graphical mapping and global positioning system (GPS) integration
- Links dependent assets and displays relationship hierarchies in a simple tree format
- Monitors both assigned and unused assets, supplies usage patterns and measures productivity
- Tracks warranty coverage, service contracts and MRO schedules
- Includes real-time incident reporting and defect tracking and covers theft prevention
- Provides depreciation models for current and historical values, simplifying tax calculations