Hospital Inventory Management Software: Features, Benefits, Tips
With 17 years of experience in the healthcare IT industry, ScienceSoft offers consulting on hospital inventory management solutions.
Meet Hospital Inventory Management Software
Hospital inventory management software is aimed at supervising drugs and medical supplies in order to increase the efficiency of healthcare supply chains and reduce medication waste.
ScienceSoft’s Healthcare IT Consultant Alena Nikuliak shares her experience:
"The сustomers I work with say that after implementation of hospital inventory management software they notice multiple positive changes. Automation of routine tasks helps to overcome the drawbacks and limitations like low speed of asset tracking, human errors, high paperwork load. Also, the records on hospital inventory and durable assets are regularly and accurately updated, which contributes to the speed and quality of hospital inventory management."
Optional in hospital inventory management solutions. They can be attached to any physical item. Each RFID tag has an ID carrying the specific inventory item data. Mostly, healthcare organizations use passive kind of RFID tags, because they are much cheaper than the active ones due to the absence of their own power supply. The usage of RFID tags is feasible for expensive items and high-alert medications.
They use radio waves to simultaneously obtain the data from the number of tags over distance and send it to the cloud or on-premises hospital inventory management solution for storing and processing.
The cloud or on-premises hospital inventory management solution may sends data related to patients to a hospital EHR system.
Mobile hospital app
To use hospital inventory management functionality or its part on-the-go.
- Drug information (ID, price, recommended dosage, adverse effects, etc.) management.
- Medication usage cycle counting for demand forecasting.
- Medication distribution control.
Medical supply management
- Medical supply information (ID, price, intended use description, etc.) management.
- Medical supply usage cycle counting for demand forecasting.
- Medical supply distribution control.
Stock levels tracking
- Medication/medical supply live tracking.
- Medication/medical supply stock reports and audits.
- A chatbot to notify on supply levels.
- Automated order placement.
- Medication and medical supply costs monitoring.
- Automated expiration dates control.
Security and compliance monitoring
- Discrepancy reports based on the predefined rules.
- Restricted access to the system.
How It Can Look and Work
Set up an automatic replenishment process of key medical assets (medications, disposable assets, etc.) to avoid asset shortage.
Access automatically generated inventory discrepancy reports to keep track of the real use of medical supplies.
To improve the efficiency of medical inventory management, avoid storage of fragmented inventory information, and track asset use, ScienceSoft often integrates the hospital inventory management software with Electronic Health Records system (EHR or EMR), a mobile hospital app for hospital staff, hospital procurement software, and digital medication issue registries.
Mobile device compatibility
To make a hospital inventory management system highly available and avoid additional costs on the purchase of special equipment (for example, barcode readers).
To ensure the safety of PHI in the integrated hospital inventory management solution and compliance with HIPAA/HITECH.
Reduced hospital inventory costs due to medication usage cycle counting and inventory demand forecasting features.
Increased medical staff efficiency due to fast search of the needed hospital inventory and automated data entry (for example, barcode or QR label scanning).
Reduced risks of hospital stock-outs due to stock reports and automated medication and medical supply tracking.
Reduced medication waste due to automatic monitoring of the medication expiration date.
When a Custom Hospital Inventory Management Solution Is the Best Option
You should go for a custom solution if your healthcare organization needs a multifunctional hospital inventory management solution to optimize supply processes, avoid spoilage of medicines, identify thefts, automate inventory tasks, etc.
For example, for one of our customers, ScienceSoft developed an electronic medication administration record (EMAR) system. Software allows ordering medication refills in real time, track medication delivery, monitor narcotic count, etc.
With 17 years in the healthcare IT industry, ScienceSoft knows the specifics of hospital inventory management solutions inside out.
Hospital inventory management consulting
- Analyzing your hospital inventory management needs.
- Deciding on an optimal set of hospital inventory management features.
- Assisting with choosing feasible integrations.
- Creating a pragmatic hospital inventory management implementation strategy.
- Forming a hospital inventory management design concept for rapid user adoption.
Hospital inventory management implementation
- Business analysis.
- Hospital inventory management development planning, execution and management.
- QA planning, execution and management.
- Integration with existing healthcare solutions.
- User training.
- Continuous support, if requested.
ScienceSoft is a global IT consulting and IT services company headquartered in McKinney, TX, US. For over 17 years, we have been providing healthcare IT consulting services for our customers to leverage value-driving solutions for healthcare.