Here is a fact, the average hospital will own (or rent) over 35,000 SKUs of equipment at any one time. When your head of finance is pulling his/her hair out wondering how to free up some of the budget, mention this fact, and add to it that this fact is why supply chain costs consume 40% of the hospitals operating budget! This needs to come down, and this is where Locatible hospital asset tracking comes into its own.
A 200 bed hospital has about 400+ infusion pumps
I can go through lots of R.O.I. figures, but for the sake of this blog, I will keep it very simple. A 200 bed hospital (that is a small hospital, but to show you how easy it is to save I will use this example). They will have about 400+ infusion pumps, believe me they do! Nearly 2:1 ratio per bed. If they reduce the amount of infusion pumps by 25% they will save between $300,000 – $500,000. That’s a large saving for a small hospital. But they are scared to reduce the amount as staff tell them they can never find one and spend on average 72 mins per shift searching for equipment, and also staff hording is an issue. It need not be this way.
No wheelchairs available in another ward? Really?
Wheelchairs are another asset in short supply, but in reality there are many available, it is often the case that ward 1 needs a wheelchair and all there’s are in use, however ward 3 has 7 wheelchairs sitting idle, now it is not as simple as going to get them, you need to know they are there, but ward 3 might not allow you have them as they will need them. But what if when ward 3 needs wheelchairs they see exactly where the spare ones are? Also often the case is that there is a cupboard just down the hall with amply supply. Utilisation of medical assets stands below 45%! That means for over half of the time the assets are just sitting there unused. Also we have the case that when none can be found more are leased, raising costs further.
Not enough beds? Are you sure?
Patient beds sometimes are piled up in a bed repair shop and additional ones are rented to meet capacity needs. Often, however, sufficient numbers of beds are available for use, but they are not well-managed. Implementing a system can help schedule repairs in a timely fashion and may help to minimize bed rentals. Additionally, this may apply to bed surfaces for specific clinical applications, especially in paediatric hospitals. RTLS can help to cut down on rentals of other clinical equipment, too.
How does saving 30% of cost on assets sound to you?
Locatible can achieve cost savings on assets of over 30%, so to say 25% is a pretty easy task. RTLS (Real Time Location System) (We do not use RFID), stops care givers wasting time searching for equipment, finds equipment when needed in seconds, sends alerts if equipment leaves an area, reducing theft / loss. Reduces maintenance bills on equipment.
There are different types of RTLS platform in the market place, using different technologies, these are outlines as this:
- Zone Level: Gives information on a zone of a floor – low accuracy
- Room-Level: Gives information on a room on a floor – mid accuracy
- Sub room-Level: Gives information on every bed – most accurate
Locatible RTLS platform is sub-room level, what that means is we are accurate to within 3 feet, we tell you exactly where the asset is. Using our patented technology and advanced business intelligence software which takes all this data and transforms it into easy to read figures and charts for management, enabling them and you to hit key milestones.
What are the top assets hospitals need tagged? You will be surprised, this will be in our next post.
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