The need for better supply management
With today’s pressure on healthcare costs, there is growing demand to improve performance of hospitals supply chain, which can account for 20%-50% of OR-CathLab running cost. For a medium sized CathLab for example, the yearly potential loss due to poor material management is equivalent to 5 to 10 annual nurse salaries*.
For a supply chain to run optimally, many hospitals would need to invest heavily in process and technology improvement. They must modernise materials management in order to improve their approach to demand planning, procurement, storage and consumption tracking.
This is why hospitals need partners who can help them optimize the efficiency of their supply chain.*PNC Healthcare; GHX quantitative research study (August 2011)
What we do
Our Material Management solution helps you efficiently manage your CathLab, hybrid room and operating room supplies. With our on-site operations managers, we take responsibility of all clinical consumables your hospital needs to run its departments.
The service is underpinned by our fee per procedure model; this is a radically different approach to typical hospital supply management. We handle the procurement, supply, and inventory management of all devices and consumables in scope, whether the products are from Medtronic or from other suppliers. Key to this model is that we retain stock ownership throughout but the hospital stays in the driver’s seat in the product selection process. Unlike traditional supply chain models, the hospital pays per procedure as part of a managed service, not per product used.
We help your institution: Achieve efficiency and cost savings through consolidation of multiple supplier contracts into a simple service arrangement • Retain full choice of supplier through our vendor-independent service
- Improve product availability and optimise storage conditions
- Cover the risk of product waste and obsolescence
- Reduce the burden of inventory capital on your balance sheet
- Simplify the preparation for procedures through the supply of customised procedure kits as part of our end-to-end service
How we do it
Through our relationships with more than 200 suppliers and distributors, we are able to offer a uniquely brand-agnostic service. We source materials according to your clinician’s preference, whether that is a Medtronic product or another supplier, and we work closely with hospitals and vendors to ensure a secure and stable supply of materials.
We handle end-to-end procurement and supply chain. Hospitals no longer need to handle multiple purchase orders and invoices from numerous suppliers. Instead, we move to a “fee per procedure” model, which greatly simplifies your hospital’s finance and procurement operations as well as streamlines your reimbursement process. This model also significantly reduces operating costs whilst eliminating the need to tie-up cash in inventory
Supply chain management
Our offering is based on three core components, supported by data analytics:
- Align materials, equipment and instruments planning
- Respond quickly to changes in surgery schedules
- Implement hospital best practices
- Robust stock controllership and usage tracking
- Compliance with local regulatory and quality guidelines
- Maintain Clinical Preference Card accuracy, so materials lists reflect clinician choice, assuring our on-site team can secure product availability
- Secure product data integrity through our central master data team, with frequent liaison with our on-site team
- Track product used per patient procedure, underpinning our unique “fee-per-procedure” model
- Analyse variability of consumption per procedure type to see usage trends, predict product demand and reduce stock outs
- Share actual and forecasted product usage with our key vendors to help them with their supply planning
- Proprietary cloud-based technology, giving access to both our team and the hospital
Benefits to the hospital
- Free up staff time to focus on patients and core clinical activities
- Reduce procedure costs and increase operating margin
- Access the latest supply chain technologies and innovations
- Improve product availability and optimise stock levels
- Eliminate waste and obsolete stock from your hospital balance sheet
Benefits to patients
- Access the latest innovations
- Less waiting time
- Confidence that procedures run to schedule due to product availability