THE INSYSIV MODEL
Insysiv is an RFID and predictive analytics company, focused on saving hospitals money in the key areas of charge capture, par level optimization, and physician preference item pricing.
We deploy unobtrusive RFID technology in hospital labs to track all tagged devices and assets as they move through your organization. You gain immediate real-time visibility into the products in your lab through their life cycle from check-in to use, ensuring that these products not only stay in your lab until usage, but are also appropriately billed for. Industry reports indicate that as much as 10% of products used on patients are not appropriately billed for. Using our solution, clients report charge capture efficiency rates above 99%! For a mid-sized hospital, this translates to millions in additional billables. Plus, our platform interfaces seamlessly with your materials management system, billing system, and hemodynamics system, saving countless human hours and minimizing errors.
With our TRACK© platform deployment, you’ll have granular metrics on product usage, so you’ll know exactly what items you should have on your shelves, and how much of each. You’ll not only have data on products used; you’ll know what procedure they were used in and by which physicians. You’ll have reports showing supply cost by physician and/or case type, case volume by case type and/or weekday, and many more. Track provides the metrics you need to optimize your lab operations.
Perhaps even more importantly, Insysiv provides you with your product usage by product category and vendor. Using this, we will help you structure long term product deals for significant discount, without having to buy all the inventory up front. Using our analytics, one client just saved 12% on stents by organizing a 1-year deal with 3 different vendors – a savings of $350,000.
Through the latest in RFID and data science, Insysiv is changing the way Physician Preference Items are purchased by creating a platform that rewards all sides of the negotiation. No more guessing about needs, resources, and best pricing. No more adversarial business relationships between vendors and hospitals. No more unfulfilled commitments. Insysiv is different. We save hospitals money and lock in market share commitments for vendors by using cutting edge technology to drive inefficiencies out of the PPI supply chain.
After all, the true enemies of successful PPI deals are Waste and Uncertainty. When hospitals cannot predict their exact need across supply categories and specific products, they cannot commit to volumes over extended time periods. When hospital group representatives cannot easily see all of their member hospitals’ data in a timely, aggregated manner, they cannot predict volume. And when vendors do not receive guaranteed orders and market share, they cannot offer best pricing.
Insysiv overcomes all these challenges. Let us show you how…