Posted by Colleen Terry on Wed, Mar 31, 2010 @ 09:46 AM
No matter what decade you're in, reducing costs will never go out of style. And, no matter what your industry, reducing inventory levels can have compounding side affects. So, how do you accomplish one without adversly affecting the other?
While the healthcare industry has the added challenge of reducing costs, while improving patient safety and care, many hospitals have found success by implementing RFID solutions. Using RFID to track inventory and usage levels of individual products -in real-time- has proven to reduce specialty department inventory costs and improve patient safety. Can this be true? Here are 4 real world examples of inventory reductions in hospitals, after implementing RFID for the real-time tracking of critical medical supplies:
- A Midwest hospital identified a 25% reduction in inventory levels by comparing current target inventory levels against proposed levels based on actual product usage.
- A Northeast hospital was able to bring consigned and paid stock down from $400,000 to $100,000 in just a few months.
- A New York hospital has seen an overall inventory reduction of 33%, despite the fact that some SKU's actually increased.
- A Southeast hospital closed the gap of on-hand inventory levels and target inventory levels by almost 100%, by using real-time automated replenishment.
With more and more healthcare providers seeing black when it comes to inventory carrying costs, RFID is earning a prominent place in the hearts of hospital administrators.
Learn more about how RFID can improve the bottom line at your hospital, while improving patient care. Download case study.
Posted by Colleen Terry on Wed, Mar 24, 2010 @ 07:51 AM
The bill has been signed, yet the country is divided on the methods, outcome, and success of bringing affordable healthcare to all. So, what do providers and suppliers think? How will the reform affect their bottom line?
While the landmark legislation promises to bring healthcare to some 32 million currently uninsured, the heated question remains how much this benefit will cost the individual consumer and industry --notably pharmaceutical and medical suppliers. For providers, the reform potentially means more customers with the resources to pay for services rendered and supplies used. With reimbursements a troubling concern for many hospitals, the reform may alleviate some of the financial pressures for hospitals administering care to the uninsured. Yet, how much will caring for this influx of newly insured cost the provider? A potentially dramatic increase in customers requires more clinicians, more space, and more supplies. What are hospital administrators saying? How will clinicians be affected by the reform?
Meanwhile, healthcare suppliers have been quite vocal in their concerns, as it appears they may bear the brunt of the cost through increased taxes on drugs and devices. The supplier fear and concern is that this legislation may very well stifle innovation --as the imposed tax is likely to have devastating affects on smaller drug manufacturers and medical device suppliers--and potentially threaten patient safety and care. Do the suppliers see any good in this reform?
There is still so much to learn and understand about the impending legislation that most lay people are taking a wait and see attitude. Want to weigh in on the discussion? Share your views here.
Posted by Colleen Terry on Wed, Mar 17, 2010 @ 10:02 AM
While some may prefer a pot of gold, most of us would rather a bank of knowledge to help in choosing a healthcare IT vendor. A thorough review, evaluation and understanding of the healthcare technology offering can save thousands of dollars, improve clinical workflow and prevent lots of headaches down the road.
KLAS, an organization dedicated to helping healthcare providers make informed technology decisions by reporting accurate, honest, and impartial vendor performance, provides this information to providers, at no cost. While KLAS offers a convenient service to providers at the right price, their scope is limited by the breadth of their researchers and depth of provider participants.
Combine what you learn from KLAS, peers, and your own evaluation to make a smart decision by considering these important vendor qualities:
- Vendor reliability, trustworthiness and follow through-talk to peers, search the web and read reviews on vendor performance to ensure you are partnering with a responsive, professional and progressive organization.
- Product/Service/Solution features and functionality-read product reviews, visit showcase sites, view product demonstration webinars, or get a trial version to fully understand the feature set and how it will be implemented and used in your specific setting.
- Training- a top notch vendor will offer initial training, whether on-site, via phone or as a digital training session. Find out what will be covered and if it can be customized to your situation.
- Systems integration-be sure to understand how the new solution integrates with your existing systems to maximum your financial benefit and improve workflow.
- Post sales support-- in the form of on-going training, technical assistance and product maintenance. In some cases, your purchase may include both hardware and software, and understanding the upgrade path, maintenance plan, and technical assistance for each is critical.
To read vendor reviews currently available in KLAS, click here.
To add a vendor to KLAS and provide feedback, click here.
To learn more about how peers can assist in choosing a vendor, read this article.
Posted by Colleen Terry on Wed, Mar 03, 2010 @ 08:05 AM
The annual ACCA Cardiovascular Leadership conference gets underway next week at the Sheraton Atlanta Hotel in Atlanta, GA. Always a hot topic, healthcare reform opens the door's to this year's conference.
Opening keynote speaker, Jack Lewin, MD, CEO, American College of Cardiology, will offer an insider's view of the healthcare reform agenda, including how current legislation could affect your organization. Addressing the tough issues-from disparities to cost-effectiveness to physician payment-Dr. Lewin reviews ACC tools and initiatives to help you implement evidence-based guidelines, measure quality and improve patient care. Also, hear how to prepare yourself to face the increased scrutiny of the CMS Recovery Audit Contractor (RAC) program.
One of the few conferences focused on the issues and concerns relevant to cardiovascular administrators, here are 4 reasons you should consider attending ACCA this year:
•Pre-conference tour of CDC with a guided tour from Belinda Minta, MPH, MBA, Program Consultant, Division for Heart Disease and Stroke Prevention, CDC - Health Perspective on Heart Disease and Stroke Prevention.
•Listen to top keynote speakers address pressing healthcare issues including healthcare reform and new reimbursement models.
•Network with other administrators and build relationships with a peer group that can become your sounding board and think tank as you face future challenges.
•Browse the exhibit floor to learn about new technologies, products, and listen to poster demonstrations hand-picked by editorial staff for their relevance in providing valuable insights to cardiovascular administrators.
Memorial Healthcare System in Chattanooga, TN will be presenting a poster on how RFID in healthcare is helping to reduce costs and improve care in the cath lab. To learn more, read this article.
Visit the ACCA Conference page for event details.
Posted by Colleen Terry on Thu, Feb 25, 2010 @ 07:11 AM
The Healthcare Information and Management Systems Society, and co-sponsor American Society for Quality, introduced the Stories of Success! case study program to share quality and patient safety improvement success stories.
The Stories of Success project is focused on linking the use of HIT with two major national initiatives to generate change, The Joint Commission National Patient Safety Goals and the National Priorities Partnership recommendations for national focus for improvement activities. Stories of Success! showcases outstanding accomplishments in the adoption and use of information technology to achieve improved patient safety, quality, effectiveness and efficiency. The chosen case studies highlight the fulfillment of the national priorities established by the National Priorities Partnership (NPP) and The Joint Commission's National Patient Safety Goals (NPSG).
Six "Tier 1" applicants (the most informative submissions aligned with the Stories of Success! purpose) were chosen, one of which highlights the use of RFID to manage inventory of critical medical supplies. Read the Mercy Medical Center case study and learn how RFID is improving patient safety in their Cath and EP labs.
"With the submissions we received, those who are using IT every day showed us and identified how technology helps support the six priorities of National Priorities Partnership and The Joint Commission's national patient safety goals and priorities. These from-the-field examples, focused on national quality and performance improvement, pinpointed technology's positive impact on the lives of patients," said Louis H. Diamond, M.B.Ch.B., F.A.C.P., F.C.P. (S.A.), chair of the HIMSS NPP/JC (National Priorities Partnership/The Joint Commission) Work Group that is leading this project.
Read about the Stories of Success project
Read the chosen case studies
To learn how RFID can help your facility improve patient safety, read the Mercy Medical Center case study.
Posted by Colleen Terry on Wed, Feb 17, 2010 @ 01:02 PM
Oftentimes, inventory management strategies are forgotten on the collegiate steps. However, the lack of visibility and control of inventory will surely get the MBA-types excited, but for the wrong reasons.
In a nutshell, inventory is money. Too much inventory and cash is tied up, affecting future purchases. Too little and you may be losing customers or paying a premium to rush orders. The absence of good inventory management practices could also lead to theft, damage, lost products, obsolescence and worse, a compromise to patient safety.
If you are experiencing any of the following, it may be time to rethink your inventory management strategy.
- Overstocks-too many products sitting on the shelf. If you don't have a method to understanding demand and usage, then you can easily be left paying for products that will never be used/reimbursed.
- Understocks/increased backorders-not enough product or product still in transit. If you don't have what you need, when you need it, then patient care levels may diminish.
- Product obsolescence-products exceeding their expiration life (or have been recalled) are still on the shelves. If there is no means to accurately track lot and serial #s of products, then inventory write-offs will increase and patient safety is compromised.
- Theft/Waste/Loss - the removal, authorized or not, of product from receivables inventory. If you don't have a way to monitor where product is stored, when it is used, and for whom, then charge capture rates decrease.
Preventing stock-outs without overstocking products requires a disciplined process and an information system that can dynamically manage this balance. Optimizing inventories can be accomplished with visibility and accuracy of information in the healthcare supply chain.
To learn how RFID can ensure the availability of the right products at the right time for the right person, read this case study.
Posted by Colleen Terry on Wed, Feb 10, 2010 @ 12:18 PM
RFID has gained significant traction in the healthcare market. Many publications are dedicated to delivering content about RFID, while others report regularly on the technology. By knowing the identity, location and conditions of assets, tools, inventory, people and more, organizations can optimize workflow and reduce operational costs. Bookmark these 4 sites to learn more about RFID in healthcare:
RFID Journal For eight years, RFID Journal has been the trusted source that potential users of the technology turn to for objective information. The Web site features thousands of free news articles, as well as opinion pieces, expert views, videos, white papers and more. RFID Journal hosts the RFID in Healthcare events in January and September, with its flagship event -RFID Journal Live--in April, having a special Healthcare track.
RFID Monthly RFID Monthly covers recent industry developments, including industry commentary and thought leadership articles as well as a summary of relevant news flow. Healthcare has been an increasingly important area for RFID adoption as more hospitals and providers consider investing in automatic identification technology for asset management, operating room inventory management and specimen tracking. RFID Monthly offers a quick and easy summary on the latest industry and healthcare news and comment.
Switchboard Media Is a community dedicated to providing educational content and news items to its visitors and subscribers. The website offers a section dedicated to healthcare, along with ROI success stories. You can also ask the expert to have your questions answered.
RFID in Healthcare Consortium The RFID in Healthcare Consortium (www.rfidinhealthcare.org) is organized under the auspices of The RFID Educational Foundation, a non-profit charitable educational institution. The vision of the RFID Healthcare Consortium is to globally advocate the safe and effective use of wireless-based technologies in healthcare delivery.
The following sites offer an in-depth look at the technology, how it works, standards, and more.
Aim Global
MIT Auto-ID Center
EPC Global
To learn more about how RFID is used in hospitals, watch these videos.
Posted by Colleen Terry on Wed, Jan 27, 2010 @ 11:11 AM
WaveMark CTO, Jean-Claude Saghbini, responds to recent FDA testing of RFID in a clinical setting.
Dear WaveMark Friend,
You may have recently read about tests conducted by the FDA to assess the reaction of ICDs and pacemakers to RFID. At the frequency used by WaveMark, 13.56MHz HF, the study concluded that a small fraction of pacemakers and ICDs (6% and 1% respectively) exhibit some form of a reaction at short distances. The conclusion of the FDA study stated: "We do not believe the current situation reveals an urgent public health risk."
WaveMark uses low power passive HF RFID and the system is designed such that the active electromagnetic field is retained within the smart cabinet. We are awaiting the details of the study to be published, in order to better understand the power levels used during the testing and the design of the tests. Meanwhile, we are confident in the basic design principles of the WaveMark system of low power and confined electromagnetic field, fully supported by the fact that we are approaching six years of clinical deployments with no known adverse interactions. We are also encouraged by the FDA's general conclusion that the current situation does not reveal urgent public health risks.
Our commitment to patient safety is one of the founding principles of our inception and mission. We take great pride in our ability to deliver real-time product visibility, providing nurses and techs with the confidence that expired and recalled products never reach a patient. The automated tracking of product use ensures the right mix of products is always available and hands-free tracking allows clinicians to spend more time caring for patients and less time with administrative tasks.
We are fully confident that we have a safe and clinically-friendly system. We will continue our due diligence in this research, while continuing our focus on providing our customers the best solution and service in the industry.
We will keep you apprised of any new developments. We welcome your discussion.
Sincerely,
Jean-Claude Saghbini
CTO, WaveMark, Inc.
Read about RFID standards that were recently approved and have always been supported by WaveMark solutions.
ANSI Approves HIBCC Standard That Addresses RFID/Medical Device Safety Concerns Health Industry Business Communication Council, July 31, 2009
Attend RFID in Healthcare Conference, January 28, 2010
Posted by Colleen Terry on Wed, Jan 06, 2010 @ 10:12 AM
1. Diligently track expiration dates
Specialty departments are seeing an increased number of implantable products with limited shelf lives. With the trend towards medicated implantables, the need to track expiration dates is ever pressing. When items are received, make a note of their expiration dates and store items in such a way that you can easily track and monitor dates. Be diligent about how often expiration dates are checked and rotate products with shorter life expectancies so they get used first.
2. Logically store items so you know where to find them in case of recall
Although we like to think the likelihood of a recall is slim, it is a reality that needs to be prepared for. While arranging items in a logical order may sound obvious, it is no trivial task when you consider how your logic may differ from the physician scrubbing in for his next procedure, or the Rad tech prepping the room next door. With input and buy-in from others, organize and store the array of products in a manner that will allow you and others to easily locate a specific item by lot or serial number in case of recall.
3. Faithfully replenish items when used
Just as you would replace the milk in your refrigerator, be acutely aware of products being used in your department and generate timely replenishment orders. Making sure the right products are available at the right time is at the core of patient safety.
4. Continuously monitor product usage trends
While the billing department will tell you it's important to track products being used for reimbursement purposes, administrator and savvy inventory clerks will say that same information is needed to analyze product usage. Identifying trends and understanding usage patterns enables departments to satisfy physician preferences, establish par levels, smooth ordering patterns and monitor outcomes.
5. Seamlessly integrate existing hospital systems
The Holy Grail for administrators is to have a seamless integration between all hospital information systems from billing to ordering to recall management. Capturing information at the source and sharing downstream data yields patient safety improvements, cost containment and regulatory compliance.
At first glance, these tips may seem elementary; however, departments are continuously challenged with how to achieve inventory visibility. Some specialty departments are handling inventory management with manual tools, making it virtually impossible to be aware of every expiration date on every product. Many departments have done the financial analysis to justify automating these processes. Not only have these hospitals seen a reduction in costs, the patient safety and clinical workflow improvements are exemplary.
To learn how one nurse was able to turn her department around by automating inventory management tasks, read her article in the December issue of Cath Lab Digest.