Inventory Management Solution Will Track over 1100 Products in Cath and EP labs
Littleton, MA– April 20, 2009 – WaveMark, Inc., a leading provider of real-time inventory management (RTIM) solutions for high value medical products, today announced its clinical inventory management solution, WaveMark CIMSTM, has been selected by Carilion Roanoke Memorial Hospital in Roanoke, VA to manage the hospital’s high value, specialty inventory. WaveMark’s RTIM technology will now be used to track physician preference products in its cardiac catheterization and electrophysiology labs.
One of the largest hospitals in the state of Virginia, Carilion is an 825-bed hospital serving over one million people. They serve a wide geographic area and deliver comprehensive cardiac services, including cardiovascular (heart and circulatory system) and cardiothoracic (heart and lung) expertise. The implementation of WaveMark CIMS to manage their inventory will provide an even greater level of service, ensuring the right products are always available.
“In a busy lab it is hard to keep track of all items at all times. With more than $2 million in inventory valuation, we are excited that WaveMark will enable staff members to see, at all times, exactly what we have on the shelf and what’s been used,” said Charlene Cole, Senior Director CV Services, Carilion Roanoke Memorial Hospital. “WaveMark’s alerts and product expiration tracking will enable our lab to easily identify and remove expiring products before they ever reach a patient,” Cole continued. Brenda Rechtman, Nurse Manager for the Electrophysiology lab added, “WaveMark gives me the ability to track product usage right at the point of care. I can even identify products that could not be used successfully in a procedure, providing an opportunity for a supplier refund.”
WaveMark CIMS uses RFID cabinets and Point of Service readers to collect information that enables realtime inventory management. The use of RFID in the process ensures accuracy and timeliness of information captured, with no time-consuming manual processes required. This streamlined workflow enables clinicians to spend more time on patient care and less time manually tracking inventory and product usage. With WaveMark CIMS, hospitals achieve optimized inventory levels, better management of product expirations and recalls, and improved charge capture.
“WaveMark’s commitment is to help hospitals across the country meet their goals to contain costs, ensure patient safety and meet regulatory compliance requirements,” said John Wass, CEO of WaveMark. “Carilion Roanoke Memorial Hospital is a great example of a healthcare provider that recognizes the value of accurate, real-time information to support their daily operations. We’re very pleased to be a part of Carilion’s dedication to meet patient care commitments.”
About WaveMark
WaveMark, Inc. is a leading provider of real-time inventory management (RTIM) solutions for high value medical products. WaveMark leverages its proven expertise in Radio Frequency Identification (RFID) and network technology to help healthcare providers and medical device suppliers address key concerns in healthcare including cost containment, patient safety, and regulatory compliance. Committed to a more efficient healthcare supply chain, WaveMark’s solutions are available on a subscription basis and eliminate manual processes, reduce costs and streamline workflows for hospitals and suppliers. WaveMark’s clinical and field inventory solutions offer product-level visibility and highly effective inventory control, which support regulatory compliance and a rapid return on investment. WaveMark is deployed in specialty areas such as Cardiovascular Labs, Electrophysiology Labs, Interventional Radiology Suites as well as Operating Rooms. For more information, please visit www.wavemark.net.
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Contacts:
Colleen Terry
Director of Marketing, WaveMark
colleen.terry@wavemark.net
www.wavemark.net
WaveMark and Noblis Announce Real-time Inventory and RASMAS Recall Management Solution Interoperability
Littleton, MA AND Falls Church, VA – March 17, 2009 – WaveMark, a leading provider of realtime inventory management solutions for high value medical products, and Noblis, provider of the RASMAS recall management solution, announce an agreement to offer supply-chain and patient safety service interoperability that provides the most immediate, automated, and documented recall capability for medical devices on the market today. The integrated solution of RFID enabled supply chain and recall management enables healthcare providers to reach a new standard in patient safety.
“We are passionate about delivering solutions that uphold our commitment to patient safety and streamlining the healthcare supply chain,” said John Wass, CEO, WaveMark. “By interfacing the RASMAS proven alert management solution with WaveMark CIMS, we provide an additional means for today’s hospitals and healthcare organizations to better manage their recall process and ultimately improve patient safety.”
With a commitment to stream-line healthcare processes, reduce errors, decrease costs, and improve patient safety, WaveMark and Noblis are collaborating to deliver:
- Real-time identification and location of recalled products: WaveMark CIMS uses RFID and network technologies to automate the management and tracking of high-value hospital inventory and RASMAS delivers and manages electronic product alerts. Together, defective products are automatically identified and located by lot and serial number so healthcare workers can spend more time with patients and less time searching stockroom shelves.
- Recall documentation linked to inventory and EHRs: RASMAS workflow provides comprehensive reporting to respond to recall audits. With WaveMark CIMS, recall remediation documentation can be linked to the hospital’s product inventory database and can reference the patient Electronic Health Record (EHR), eliminating the need for duplicate data entry and the potential errors.
- An expanded patient safety community: WaveMark solutions provide real-time, integrated supply chain collaboration between hospitals and medical device suppliers. WaveMark CIMS users can now collaborate with the RASMAS community of hospital patient safety, risk, and material management professionals who are focused on product recalls.
“We are very pleased to have this relationship,” says Mark Lay, RASMAS Program Director. “RASMAS is designed to drive best practices in recall management and with WaveMark CIMS interoperability; hospitals can improve patient safety with more automated and expeditious means of removing potentially harmful products.”
About WaveMark
WaveMark (www.wavemark.net) is a leading provider of real-time inventory management (RTIM) solutions for high value medical products. WaveMark leverages its proven expertise in Radio Frequency Identification (RFID) and network technology to help healthcare providers and medical device suppliers address key concerns in healthcare including cost containment, patient safety, and regulatory compliance. Committed to a more efficient healthcare supply chain, WaveMark’s solutions are available on a subscription basis and eliminate manual processes, reduce costs and streamline workflows for hospitals and suppliers. WaveMark’s clinical and field inventory solutions offer product-level visibility and highly effective inventory control, which support regulatory compliance and a rapid return on investment. WaveMark was founded in 2003 and has been deployed in special procedure labs such as Cath, IR, EP as well as operating rooms.
About Noblis
Noblis (www.noblis.org) is a nonprofit science, technology and strategy organization that helps clients in the public and private sector solve complex scientific, systems, process, and infrastructure problems in ways that benefit the public. RASMAS (rasmas.noblis.org) is a webbased service that enables healthcare providers and suppliers to collaborate and respond to product recalls and alerts with dramatically increased speed, thus lowering administrative costs, mitigating legal risk, and most importantly, improving patient safety.
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WaveMark CIMS is Contracted Solution for MedAssets’ 3,300 Hospital and IDN Customers
Littleton, MA– January 28, 2009 – WaveMark, Inc., a leading provider of real-time inventory management (RTIM) solutions for high value medical products, today announced its clinical inventory management solution, WaveMark CIMS™, has been awarded a contract by MedAssets Supply Chain Systems as a solution for customer hospitals and hospital networks to manage high value, specialty inventory.
MedAssets Supply Chain Systems is one of the nation's largest group purchasing organizations providing innovative solutions for healthcare providers to improve their margins and cash flow. MedAssets awards vendor contracts based on the review of extensive criteria including product quality and customer service. WaveMark’s proven performance in providing a solid ROI, improved clinical workflow as well as patient safety and regulatory compliance are several key potential benefits available to MedAssets’ customers. The terms of the contract make WaveMark CIMS immediately available to MedAssets’ customer base of over 3,300 hospitals and IDNs.
"Strong GPO relationships like this are integral to hospitals getting access to the best technology solutions to address their key concerns. WaveMark is proud that our solution meets the rigorous requirements of MedAssets and is eager to assist hospitals in optimizing their inventory to ensure product availability to maximize cost containment and patient safety,” said Patrick Littlefield, founder of WaveMark.
Already successfully deployed in hospital labs across the country, WaveMark CIMS helps hospitals achieve optimized inventory levels, better management of product expirations and recalls, and improved charge capture. WaveMark CIMS uses RFID cabinets and Point of Service readers to collect information that enables real-time inventory management. The use of RFID in the process ensures accuracy and timeliness of information captured and the streamlined workflow enables clinicians to spend more time on patient care and less time manually tracking inventory and product usage.
About WaveMark
WaveMark, Inc. is a leading provider of real-time inventory management (RTIM) solutions for high value medical products. WaveMark leverages its proven expertise in Radio Frequency Identification (RFID) and network technology to help healthcare providers and medical device suppliers address key concerns in healthcare including cost containment, patient safety, and regulatory compliance. Committed to a more efficient healthcare supply chain, WaveMark’s solutions are available on a subscription basis and eliminate manual processes, reduce costs and streamline workflows for hospitals and suppliers. WaveMark’s clinical and field inventory solutions offer product-level visibility and highly effective inventory control, which support regulatory compliance and a rapid return on investment. WaveMark was founded in 2003 and has been deployed in specialty areas such as Cardiovascular Labs, Electrophysiology Labs, Interventional Radiology Suites as well as Operating Rooms. For more information, visit www.wavemark.net.
About MedAssets
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, 3,300 hospitals and 30,000 non-acute care healthcare providers. For more information, visit www.medassets.com.
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Contacts:
Colleen Terry, Director of Marketing, WaveMark
colleen.terry@wavemark.net
www.wavemark.net
+1.978.431.1600