by Tracey Berkowitz on January 12, 2024
Healthcare organizations managing high-value items such as tissue and non-biologic implantable devices need advanced analytics to benchmark performance and monitor trends effectively. Yet, not all tissue and implant tracking software analytics offer the precision and depth required. The ability to track inventory and capture item-level usage in real-time, enterprise-wide or within a single facility is essential. Healthcare executives faced with the dual pressures of controlling cost and managing cash flow require a solution that transcends beyond surface-level analytics.
Why Traditional Data Analysis Isn’t Enough
Healthcare organizations frequently rely on siloed, retrospective data, which lacks the immediacy and precision vital for proactive decision-making. Teams often spend countless hours pulling multiple reports and cross-referencing data into spreadsheets to explain variances, a process that is time-consuming and prone to missing opportunities for corrective action. With thousands of high-value items in inventory, any delay in identifying at-risk items can lead to significant issues. By the time these items are discovered, it is often too late for prompt action, making the difference between preventing problems and explaining unfavorable variances.
A Strategic Tool: Real-Time, Item-Level Data Analytics
The key is to leverage software that captures item-level usage in real-time that accounts for stock levels, usage rates, expiration dates, and costs. Without this level of detail, benchmarking performance and trend analysis is, at best, an educated guess. The right software should be more than a tool; it should serve as a strategic ally for healthcare executives, aiding in cost control and cash flow management.
Imagine a solution with a dashboard of actionable insights that:
- Flags at-risk items, prioritizing based on risk score and value.
- Factors in usage rates to pinpoint items at risk of stockout.
- Sets thresholds and tracks performance over time and across multiple facilities.
- Scores items at risk of expiration, considering real-time stock levels, usage, expiry dates, and cost.
- Provides real-time alerts for inventory replenishment.
- Gives visibility to all of the above across a facility, division or system.
Data-Driven Decisions Beyond Surface-Level Analysis
InVita’s Implant360TM stands out as the only solution that transcends surface-level analysis to provide in-depth, item-level usage insights in real-time. It equips management teams with the information necessary to proactively mitigate risks and avoid unplanned expenses associated with expiration, stockouts, and shortages. Effective management of tissue and implants hinges on the immediacy and precision of advanced data analytics. Implant360 ensures the right information is always at your fingertips, enabling informed, proactive decisions.
