A hospital Enterprise Asset Management System is critical in keeping all moving parts going, avoiding failures that could cost lives.

We’ve all been a part of hospital healthcare at one time or another. Whether in the hospital to visit a loved one, friend, or find ourselves as patients, there are several processes acting in the background to keep hospitals running efficiently.  Every day, hospital asset management systems help doctors and nurses treat patients and save lives.

Consider critical medical equipment. Every healthcare worker should have quick access to important assets such as defibrillators, ventilators, and infusion pumps. Making these items readily available in emergency situations is vital since every second counts.

What is Hospital Asset Management?

Hospital asset management is the process of organizing, maintaining, and tracking equipment, supplies, and other assets used in a healthcare facility. This includes everything from medical equipment like MRI machines and ventilators, to supplies like syringes and bandages, to furniture and building fixtures. Effective hospital asset management ensures that the right equipment and supplies are available when and where they’re needed, reducing waste, improving patient outcomes, and saving lives.

There are several key components of hospital asset management. The first is inventory management, which involves tracking the location, quantity, and status of every asset in the hospital. This can be done manually or with the help of specialized software that can automate the process and provide real-time data. The second is maintenance management, which involves keeping equipment in good working order through regular inspections, repairs, and preventative maintenance. This can help reduce downtime, extend the life of the equipment, and prevent accidents and injuries. The third is procurement management, which involves purchasing new assets as needed, negotiating contracts with suppliers, and managing the supply chain.

Because most hospitals cover large areas of square footage across several floors, enterprise asset management solutions such as indoor positioning systems can help pinpoint assets and inventory throughout a building even to the floor level. In addition, heating, air-conditioning, ventilation, plumbing, and other systems associated with the hospital buildings themselves require routine checkups and maintenance. Accurate records of when they were serviced can help reduce costs and maximize warranties or vendor discounts. Add to that healthcare-specific assets, such as beds, wheelchairs, IVs, MRI machines, monitors, PPE, etc., and one can quickly see how hospital asset management can become a very comprehensive process.

How Does Hospital Asset Management Work?

As stated earlier, the first step in hospital asset management is inventory management, which involves tracking the location, quantity, and condition of all assets. This can be done manually through real-time tracking software that streamlines the process and makes real-time data easily accessible. Locating inventory becomes an issue for hospitals when other projects receive priority or communication gets inefficient, understandably so. Several departments and teams are facilitating a limited number of tools, inventory, and PPE to achieve daily, weekly, and monthly tasks. Automating the process is how hospital asset management can function best.

The next step in hospital asset management is maintenance management, which involves keeping assets in good working order through regular maintenance, repairs, and preventative measures. This includes everything from routine cleaning and inspection to more complex repairs and replacements. Hospitals can use computerized maintenance management systems (CMMS) to schedule and track maintenance tasks and ensure that equipment is always in good working order. The Apptricity Work Order feature solves this by providing this solution and/or integrating with existing work order management systems. Plug that in with Apptricity Asset and Inventory and the bulk of hospital asset management becomes readily available in one easy-to-use system, accessible from the palm of your hand. By taking advantage of these solutions, hospitals can reduce downtime, extend the life of equipment, and prevent accidents and injuries associated with faulty equipment.

Let’s say an MRI machine on the third floor is due for scheduled maintenance. The software can alert personnel that the equipment is approaching its maintenance due date. Easily locate the MRI machine within the software, submit a work order, and maximize the life of your MRI machine. It’s as simple as that. Additionally, you can track important data for your hospital’s assets such as lifecycle, useful life remaining, shelf life, upcoming expiration, hours in use, idle time, all while performing quick cycle counts, automating check-in/check-out, and more. You can even pair our technology with sensors to gain enhanced data such as temperature, light sensitivity, pressure, and more. The next time the MRI machine needs maintenance, the upcoming technician will have access to all the information about that MRI machine at their fingertips, including all the mentioned data points.

Another important aspect of hospital asset management is procurement management, which involves purchasing new assets as needed, negotiating contracts with suppliers, and managing the supply chain. By carefully selecting vendors and negotiating favorable contracts, hospitals can save money and ensure that they have the supplies they need when they need them. Procurement management also involves tracking and managing the flow of assets into and out of the hospital, from the time they are ordered to the time they are disposed of. By managing the entire lifecycle of assets, hospitals can reduce waste, improve efficiency, and ultimately save lives.

Why is a Hospital Asset Management Plan Important?

Some of the key benefits of a hospital asset management plan include:

• Improved patient outcomes – Effective asset management can help hospitals provide better care and improve patient outcomes by ensuring that critical equipment and supplies are available when they’re needed. For example, quick access to life-saving equipment like defibrillators or ventilators can mean the difference between life and death.
• Cost savings – Asset management can help hospitals reduce costs by minimizing waste, extending the life of equipment, and avoiding unnecessary purchases. By maintaining an accurate inventory and tracking asset usage, hospitals can make more informed decisions about purchasing and repairs.
• Compliance with regulations – Healthcare facilities are subject to numerous regulations and standards, such as those set by the Joint Commission or the Centers for Medicare and Medicaid Services. A comprehensive asset management plan can help hospitals stay in compliance with these regulations, which is essential for patient safety and the facility’s reputation.

How Does Hospital Asset Management Improve Quality of Care?

Hospital asset management can help improve the quality of care by removing obstacles that prohibit doctors and nurses from caring for patients. To service patients better, hospital asset management solutions provide the following:

Tracking mission-critical equipment
With proper asset management, critical medical equipment is available in urgent situations. This can be critical in emergencies, allowing healthcare providers to quickly and efficiently respond to patient needs.

Accurate and reliable data
Asset management software can provide real-time data on the location, condition, and usage of equipment and supplies. This data can help healthcare providers make informed decisions about equipment purchases, repairs, and replacements, ensuring that the best resources are available to deliver high-quality care.

Performing preventative maintenance to lessen the likelihood of equipment failures
Asset management includes regular maintenance and upkeep of equipment, which can prevent malfunctions and breakdowns, reducing the risk of adverse events and allowing for more accurate and effective treatment. Well-maintained equipment also reduces downtime, allowing for more efficient use of resources.

What Does Hospital Asset Management Software Do?

Asset management software can help hospitals track inventory levels and usage, ensuring that they have an adequate supply of essential supplies, such as medications, surgical instruments, and personal protective equipment (PPE). This can prevent delays in treatment and reduce the risk of healthcare-associated infections. Simply put, hospital asset management software helps track the “When” and “Where” for all of your vital assets. Finding IV pumps, x-ray machines, ventilators, MRI machines, PPE, or other hospital equipment does not have to be a challenge. Staff members can eliminate lost time spent in finding misplaced equipment.

By tracking assets and automating your materials management processes, hospitals and other healthcare facilities can focus on patients instead of their equipment. Control costs, eliminate misplaced equipment, strengthen accountability and security, minimize theft, and make compliance easier with hospital asset management software.

Why Use a Hospital Asset Management Software?

If the above wasn’t enough to convince you, here is a list of points that may help with your decision:

• Track critical equipment and quickly access them in urgent situations
• Automate maintenance and increase lifespan of expensive high-value hospital assets
• Export reports with relevant hospital asset and inventory data
• Ensure compliance across your facility
• Manage inventory limits and customize thresholds for optimized inventory reorders
• Don’t rely on pen and paper, but use real-time data for your hospital decisions
• Gain 360-degree visibility over your hospital across locations
• Manage all hospital assets and inventory from the palm of your hand

We at Apptricity are specialists in asset and inventory management software. Our solutions are trusted by the United States Army, the federal government, AT&T, Verizon, Brinks, and more fortune companies across the country. We use automation, patented IoT technologies, and a cloud-based system to give you 360-degree visibility over all assets and inventory. Do the same for your hospital with a hospital asset management software solution. Schedule a demo to see it in action.