The healthcare sector is compiled full of diverse industries that, now more than ever, the public is heavily reliant upon, from pharmaceutical manufacturers, suppliers of medical equipment, or private and public healthcare facilities. That is why successful managing healthcare assets is important and urgent.
Why is asset management needed?
Successful asset management can drastically reduce situations where equipment is unavailable and time spent tracking down an asset that might have gone missing. Time spent tracking down equipment hurts productivity. In fact, it’s estimated that staff spends over 6,000 hours a month searching for equipment.
An asset tracking solution in hospitals can help support patient care and improve the entire patient experience. Notification to staff when equipment requires maintenance will also help ensure assets remain compliant.
What does it do?
Implementing an asset tracking tool will have many advantages. This is especially relatable in a medical environment that is heavily reliant on its equipment and life-saving devices. Having the ability to track every single asset throughout one or many facilities can:
- Allow staff to quickly and easily locate medical equipment in real-time
- Reduce procurement costs to replace lost or stolen equipment
- Track an asset’s ROI and record a true value
- Ensure accurate asset usage and performance data
- Improve inventory management and accuracy
- Create an efficient use of physical space and organized equipment storage
What to track in healthcare?
Medical devices and supplies can have significant value beyond the product’s cost, which is why asset tracking and asset management are an important investment in the healthcare industry. As shown in the infographic, the range of assets in a hospital, both physical and non-physical, are vast. They include:
- Portable Equipment
- Medication or Vaccinations
- Medical Waste
- IT Hardware
Hospitals and medical facilities may often be spread across multiple sites, proving challenging when manually managing assets. Having accurate and up-to-date visibility of assets and inventory can help facilities in many different ways, such as calculating accurate asset depreciation figures and facilitating bulk procurements. Both of which can offer significant cost savings.