Managing non-biologic implants has long been a challenge for healthcare organizations due to costs, complexity, and effort involved. But what if there was a simpler, more cost-effective method? InVita’s integrations and innovations have made the management of these high-value assets as straightforward as managing tissue. With Implant360TM predictive analytic reporting, hospitals are receiving unprecedented value and savings, while alleviating administrative burdens and addressing common issues related to expiration management, waste and loss, stockouts, recalls, and warranty claims. Curious about how these capabilities make predicting, preventing, and saving easier? Discover the top five reasons hospitals turn to Implant360 for its predictive analytic reporting.
1. Expiration Date Management
Expiration is a major source of waste and financial loss for hospitals. Existing systems provide alerts for items that expire within 30-, 60- or 90-days, but these lists are too broad and fail to prioritize expensive implants based on their risk score and value. With Implant360's predictive analytics, multiple data points are combined to create risk scores, which prioritize high-risk items that require immediate attention into targeted, actionable reports. By taking a proactive approach, hospitals are able to reduce waste and optimize resources.
2. Waste and Loss Prevention Using RFID Device Management
Inventory waste and loss are another serious issue, often due to poor visibility and ineffective tracking. With busy schedules and workloads, staff may forget to return unused implants or log their usage post-surgery, resulting in unaccounted resources and financial losses. Implant360’s RFID Device Management secures every implant and tracks every transaction automatically, so you know exactly who took what when. With 24/7 visibility into your inventory, you can save your staff time, prevent loss, and avoid unnecessary spending, making your operations more efficient and effective.
3. Predict Stock Levels and Avoid Stockouts
Running out of implants before surgery is another issue that disrupts operations, delays procedures, and increases costs due to rush orders and expedited deliveries. Without the right tools, predicting stock levels and prioritizing purchases is time-consuming and a reactive process. Management teams analyze reports and calculations to find answers to problems that already happened and can't be changed. By analyzing inventory levels, usage patterns and other data points, Implant360 anticipates and prevents stockouts before they impact operations. It provides a system-wide or single-facility view of performance. Having visibility into sister facility inventories allows for resource sharing to avoid stockouts, shortages and last-minute orders.
4. Automate Recall and Warranty Claims Management
Managing recalls manually is extensive and error-prone. Hospitals depending on third-party notification services lack immediate case identification capabilities. Significant manual effort is required to reconcile siloed data as well as pinpoint recalled inventory items' storage locations. Now consider the warranty claims process. Another cumbersome manual process that requires the coordination between multiple departments, often resulting in numerous unpursued claims and potential compliance issues during audits. Many healthcare systems are unaware of all the device categories eligible for reimbursement, representing potential unclaimed financial opportunities.
Implant360 addresses these challenges by automating both of these processes. By integrating with the FDA Recall Database, EHR, and device manufacturers’ data, Implant360 automates the matching of recalls to affected patients and pinpoints the location of recalled devices in inventory, ensuring accuracy, patient safety, and reducing administrative burdens. Having visibility into recalls at the facility, division and enterprise levels enables nurses to respond faster and resolve issues more efficiently. For warranty claims management, it automates the identification of eligible devices, auto-populates claim forms, and tracks claims from submission to resolution, ensuring hospitals are reimbursed for money that would otherwise be lost. Healthcare organizations can efficiently manage their warranty obligations through automation.
5. Implement Best Practices for Optimal Cost Savings
Identifying and implementing best practices across departments and facilities requires visibility into performance metrics. Hospitals can use Implant360's detailed analytic reporting to monitor trends, set thresholds, negotiate better contract terms, consolidate suppliers, and find cost-saving opportunities. By leveraging insights across departments and facilities, hospitals can optimize their operations, reduce overall spending, and drive continuous improvement and collaboration.
Ensure Better Resource Utilization and Financial Efficiency with Implant360
It is no surprise that healthcare organizations are turning to Implant360’s predictive analytic reporting for its advanced integrations and innovative functionality, which addresses critical issues like expiration management, waste and loss prevention, stockouts, recalls, warranty claims, and best practices. By shifting from reactive to proactive management, Implant360 ensures better resource utilization, significant cost savings, and ultimately, improved patient care, making it an indispensable tool for any healthcare facility wishing to manage non-biologic implants as effectively as managing tissue.