How Asset Management Handles Major Healthcare Industry Issues?

According to the latest research, 47% of hospitals fail to manage their assets properly. Also, a typical hospital employee spends around 70 minutes of their shift looking for assets.

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Within the healthcare industry, multiple teams work dedicatedly behind the scenes to take care of assets that enhance the patient experience. Maximizing the efficiency and credibility of such resources is a significant challenge for modern-day hospitals. But do not lose hope.

Relation between Hospitals and Asset Management

The experts providing RFID software platform solutions said it is practically impossible for hospitals to keep pace with huge consumable inventory, pricey equipment, and a lengthy list of warranties and expiration dates.

The healthcare industry is experiencing a rush of new assets each day. For instance, hospitals have several small, mobile tools. These tools must be in proper shape always because they are crucial for patient wellbeing and safety.

According to World Health Organization, hospitals with upfront operational requirements and few complex assets also need proper asset management. There is, unfortunately, no alternative.

Difficulties Hospitals Must Overcome

Hospitals face a wide range of difficulties. Let’s explore how asset management can eliminate such difficulties and strengthen healthcare operations seamlessly.

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Stolen or Missing Equipment

Not tracking a missing asset can be harmful to patients. About 25% of hospital assets are lost or stolen. This means a loss of approximately $3000 per item. Imagine making a case to allocate such a huge sum solely for replacing assets! That much money could easily be spent on other things like research, appointing more staff, and improving healthcare initiatives.

With an asset management system, hospital officials can know where the equipment is located at all times. This ‘anywhere-anytime’ access impressed large segments of the population.

Incorrect Maintenance Records

If you wish to know how proficiently a hospital function and how well its patients are handled, please visit the ER room. Emergency patients are turned away when a hospital cannot admit them. This is possible when the equipment is not maintained regularly.

During natural disasters or viral epidemics, many people rush into hospitals within a short period. Keeping emergencies aside, incorrect maintenance records can leave several questions unanswered even in normal times. They obstruct quality healthcare.

Invest in a strong asset management system that can include predictive maintenance by taking in details on the overall lifecycle of assets. The system also has alerts for upgrades or servicing, taking pictures, making notes, etc.

No Environmental Monitoring

Hospital assets are sensitive to various elements. For instance, many pharmaceuticals require environmental monitoring, so they do not expire. Many medicines depend on temperature. Blood tests and stool samples need environmental stability to generate accurate outcomes. Labs and storage shelves can benefit from constant supervision.

An asset tracking solution lets you log environmental specifications, formulate work orders accordingly, and conduct audits to make sure everything is in the proper location.

The experts offering the best RFID hospital asset tracking systems said patient care relies on the sustained interaction and easy availability of different medical devices. When a hospital can operate without any hassle, both employees and patients enjoy streamlined workflows, which assures top-notch healthcare.

Besides the immediate benefits, asset tracking reports show how the assets are deployed inside a hospital daily. The administration may use this detailed data to develop action plans and minimize costs and inconsistencies.