Spotlight on SIH: How Insysiv’s Inventory Management System Has Revolutionized SIH’s Efficiency & Productivity, reducing inventory by over $1 Million.
Background
Southern Illinois Healthcare (SIH) houses an umbrella of over thirty facilities, including three hospitals, to bring premier care to its rural communities.
SIH needed a comprehensive solution to effectively manage inventory flow across all three hospitals and avoid stockouts. With hospitals bursting at the seams across the country due to the ongoing pandemic, healthcare managers have more on their plates than ever before. Healthcare managers are seeking solutions to assist overburdened staff and the medical device supply chain issues they now face. Finding efficient inventory solutions to mitigate these issues is imperative.
Solution
SIH was looking for a comprehensive inventory management solution that could tie into all their existing systems to predict re-ordering and prevent money from being lost on unattributed materials used.
In 2019, SIH chose to implement Insysiv’s Supply Chain and Inventory Management Systems. Insysiv’s software uses a supply scanning system and cost-effective, cutting-edge RFID tracking to account for each item in their inventory throughout the facility. The solution has enabled real-time metrics for the measure of quantity in stock, order management, and supply usage to effectively manage a streamlined inventory. Inventory is right-sized, supply revenue capture is guaranteed and stockouts, which can be potentially life-threatening to patients, are eliminated.
Mark Mize has been with Southern Illinois Healthcare for thirty-five years and moved into the role of Cath Lab Material Manager in 2021. He was so pleased with Insysiv’s system that he has opted to implement it in more departments.
“I can push a button and see the total dollar value of inventory. I’m able to run reports, see expiring products, and take action to save a loss.” says Mize, “Insysiv is incredibly easy to work with as it does most of the work, alleviates time burden, and frees up time needed for other aspects of management.”
Results
“Since working with Insysiv we have reduced our owned and consigned inventory by $1.5 million in the last 18 months. We also have reduced our monthly outdates by 50% and are still trending down,” Mark says.
At the same time, Insysiv analytics enabled them to adjust products that were in danger of stockout. Inventory levels are now data-driven, not guesswork.
“Insysiv metrics are great for live inventory turns and total value of inventory daily. It’s great for cost per case and cost by physician. This really helps to reduce our cost per case. Insysiv has been great to work with and is always available for support. They have a great team.”
