Most hospitals and healthcare units today struggle with the challenge of managing assets.
Missing equipment, the inability to track available assets, and over-purchasing assets are
some common asset mismanagement scenarios that adversely affect the budget, productivity,
and efficiency of a hospital.
Consider a scenario where a nurse unable to track infusion pumps wastes time looking for it
while the patient is left waiting in discomfort, and the hospital to prevent such situations from
happening ends up purchasing a additional infusion pumps. According to an article published
in the nursingtimes.net, 33% of nurses in hospitals spend at least an hour searching for
Technology, today, can deliver solutions to manage assets in different facilities, hospital units,
and departments at the same or different geographical locations. Managing assets is now
much easier using Enterprise Asset Management (EAM) applications. EAM uses efficient
techniques for optimization and also assists in planning, ordering, and replacing assets.
Some of the reasons why you should implement an EAM application in your hospital are:
Productivity of the hospital staff is adversely affected when time is spent by them searching
for equipment instead of attending to patients. Additionally, when such equipment is hard to
locate, especially during emergencies like major accident or trauma situations, this could have
undesirable consequences, including loss of revenue to the hospital.
This brings us to Enterprise Asset Management solutions and Digital Asset Management, that
can help in gaining control. With built-in technology such as RTLS, RFID, and GPS based
tracking, it can save time and assist in finding lost equipment and assets quickly.
Buying additional equipment that are already in stock at the hospital will unnecessarily
increase costs. Commonly used equipment or assets such as infusion pumps are often
underutilized in hospitals. Managing these assets and purchasing just in time helps efficiently
Asset Management Systems provide high-level visibility into equipment and asset stock
availability. Setting thresholds allow healthcare facilities to place orders when required and
auto purchase when threshold limits are crossed.
When different departments and floors use different systems to track operations,
synchronizing throughout the healthcare facility becomes impossible. This often leads to a
mismatch in asset tracking, which leads to a drop in effective utilization.
Asset Management Software can help hospitals integrate all relevant data across the facility.
You can access this data in real-time and increase visibility over various channels. In fact, you
can analyse future risks, track performance, and reduce unnecessary expenditure more
Ensure Regulatory Compliance
Compliance is of the utmost importance in the healthcare industry, where human lives are at
stake. Repairing, maintaining, and changing critical pieces of equipment are essential in
hospitals and healthcare centers. With manual processes, these scheduled maintenance
tasks could end up being missed, which can raise non-compliance implications.
Digital Asset Management tools can regularly monitor and track healthcare equipment,
ensuring timely repair and services, and scheduled maintenance tasks.
With healthcare centers and hospitals looking to increase security and tighten the budget,
eliminating avoidable risks and expenditures is imperative. Asset mismanagement is one such
avoidable issue. Apart from legal implications, loopholes in asset management can lead to
negative financial impact and reduced productivity.
Implementing an Enterprise Asset Management system, like Pycube’s Asset Management
platform aktivu™, is a solution to effectively managing assets.
Posted on 2019-01-25 | pycube.admin