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Inventory Optimization

Frequently hospitals overlook the opportunity to be had in better management of their asset inventories. These are usually found in the OR, Cath Lab, Interventional Radiology, etc.


The key is to analyze the items in the inventory to determine how often they are being used and more importantly if they are be used at all. It is often discovered that significant amounts of stock have had no usage in more than one, two or more years. These items obviously need to be addressed. In addition there are inevitably other items that are being used, but have sufficient stock on hand to last for a year and beyond.


Both these situations can be examined and through a collaborative effort working with the suppliers and the hospital's key departmental personnel the total amount of inventory can reduced significantly. Using an objective third-party like HCSB helps maximize the optimization opportunity. HCSB performs the statistical analysis based on provided data and facilitates the interactive process between the hospital and its suppliers.


Past Experience:


·         In a 450 bed stand-alone hospital in the Mid-west HCSB focused on the organization's inventory in their OR and Cath Lab. In the OR working with nine suppliers HCSB addressed $2M of stock. By eliminating "dead" inventory through exchange of products and conversion to consignment the inventory was reduced by 41.6%. This is one example of an opportunity achieved. Results will vary depending on specific circumstances in each case.

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