Hospitals rely on assets to run operations smoothly, and for this reason, an Asset Management software is a must for their facilities. Every year, organizations and institutions spend millions on buying new assets and maintaining or disposing of the existing ones. There is a constant exponential rise in investable assets. It is expected to reach $102 trillion by 2020, from $64 trillion in 2018. With more assets, the already difficult task of managing assets becomes even more tedious.
Poorly managed assets can financially break many organizations. These complexities in managing assets call for the use of Asset Management Software within the healthcare industry. An Asset Management Software keeps a record of the assets used in an organization. It helps manage the inventory of assets and track them throughout their lifecycle, from procurement until final disposal. You can check the current state of the asset, current user of the asset, and other details like its location and expiration date. This software maintains an Asset Management Database which stores complete information related to every asset.
Moreover, Asset Management has recorded unprecedented growth over the last few years. Asset management solutions within hospitals have increased by 12% in 2017, amounting to a $79.2 trillion industry. Now is the time for healthcare facilities to invest in an asset management solution for the benefit of their assets and organization.