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How It Works

For the CFO

Challenge

I’d Like To Do Direct Costing But Don’t Have The Data I Need.

In an era of declining Medicare reimbursements and increased payment bundling, health care organizations have no choice but to find new ways to save money. Reducing your cost of operations through better data is exactly what we do. Insysiv offers you the best inventory system on the market, at a price that even smaller hospitals can afford.

I Think We Can Do Better On Product Pricing

As a CFO, you know that product pricing is based on more than just volume. Your vendors’ cost of doing business plays a large role, and that is a combination of factors such as consignment percentage, expiration replacement, physician brand loyalty, etc. Insysiv gives you insights in all these areas, allowing you to fine-tune your supply chain to get the best price on products.

I Cannot Easily Get Metrics On Contribution Margin By Case Type

Insysiv integrates with your materials management and billing systems, then synthesizes that information into dashboards that give you precise insights on contribution margin, 2, 3 Insysiv solutions integrate into powerful business intelligence dashboards that are tools to bend the cost curve downward.

I Don’t Know The Variance In Case Cost By Physician

Reducing variance in case costs is of vital importance in guiding the financial health of your organization. Insysiv can give you that data, showing average case cost over time, by a doctor, and variance. You’ll quickly uncover areas that can be improved to maximize profitability.

For Physicians

Challenge

The Product I Need For Best Patient Care Is Sometimes Out Of Stock

Insysiv carefully tracks the usage rates of every product, meaning inventory staff don’thave to make educated guesses on the correct inventory level. They can know the right number. If an item is used on a case but not recorded,  it can also lead to stockouts. Our RFID sensors will find these unscanned products and ensure they are not only billed for, but reordered.

I Don’t Want To Accidentally Use An Expired Product

Insysiv’s handhelds read the expiration dates embedded in the product barcodes when you scan them for use on the patient. The scanner will immediately alert your lab staff of any expired products the moment that product is scanned. Our technology is backing up your staff, ensuring optimal patient care.

I Don’t Know My Volumes By Case Type, Nor How My Case Costs Compare To My Peers

We know you strive to exceed in your profession, and for that, you need data. How many cases are you doing per week? What kinds of cases? How long on average does it take to do each case type? Are you trending above or below your peers, and why? Our metrics give you the insights you need.

 

For Materials Management

Challenge

I Think We Can Do Better On Physician Preference Item Pricing.

So much of pricing, especially in physician preference items, is based on purchase commitment (not market share), and in helping vendors keep down their cost of doing business. Being able to predict future usage patterns and reduce consignment loss is essential to pricing. That is exactly what Insysiv does. By helping your staff and vendors manage both usage rates and waste at your organization, we ensure you get the best possible pricing.

I Want To Tighten Up Inventory Levels and Prevent Stockouts.

Incomplete data on actual lab utilization rates on products by SKU can lead to incorrect inventory levels. “Emotional stocking” can cause oversupply and lead to expiration waste, while incorrect capture of all products being used or moved throughout the lab can cause stockouts. Insysiv solves all these issues. Our metrics provide exact utilization metrics by SKU and track the location of every product (including those that were used but not scanned), meaning you can right-size your inventory and eliminate over- and under-stocking.

I Would Like Better Control On Expiration.

Expiration waste is the result of overstocking and incorrect rotation of products on the shelf. Lab staff do not have the time to always use the oldest product on the shelf. That’s where Insysiv comes in. Our software helps you right-size your inventory levels based on utilization rates and goes a step further by tracking the expiration date of every product in your inventory. Your staff will be alerted whenever products are becoming “at-risk”, allowing you or your vendor to take appropriate action.

My Current Purchase Order Process Can Be Cumbersome.

Staff is often capturing product use in the case documenting system, but then have to manually type in every product for reordering in the materials software. Then there are bill-only’s, which often require one purchase order per product, plus tracking of a serial number. Excessive purchase orders cost extra time and money. Insysiv has software to help your organization economize on both fronts, through automated requisitioning and a greatly streamlined bill-only process.

I Want Better Metrics On Utilization Rates By Product

Use Insysiv’s data to drive large organizational initiatives, such as PPI pricing, procedure profitability, and more.

For Department Managers

Challenge

We Have A Lot Of System Redundancy And Excess Manual Entry; I’d Like Better Software Integration

Insysiv integrates all of your major software systems. Our handhelds send product usage in real-time to your case documentation system for annotation by staff. It integrates with your billing system to provide supply and implant information to the patient record. Lastly, it tracks all products used, as well as whether those products are ordered as used or on a par. No more manual ordering! With a couple of clicks, Insysiv sends a requisition to your materials management system for the right products.

I Would Like A Modern Inventory System, But Don’t Have A Huge Capital Budget With Which To Implement One.

We are one of the most competitively priced inventory solutions on the market. We can get you started at NO capital cost. Get up and running fast, for free, then just pay a low monthly subscription. Our mission is helping you easily achieve efficiency; our startup process is aligned with that mission!

I’m Not Positive We Charge For 100% Of Products Used On Cases.

Even if 1 out of 100 products used on patients isn’t documented as having been used, that can mean hundreds of thousands of dollars lost per year, as well as a risk of future stockouts. Our RFID system has your back, alerting staff whenever any used products aren’t tied to a case. Capture all of your supply usage, and ensure that your physicians always have the product on the shelf that they need.

I Would Like Better Metrics On Room Utilization, Brand Alignment By Physician, Case Types And Volumes.

Insysiv keeps track of which products are used by which physicians, what type of case was done, in which lab the case was performed, and how long the case took. You have all the metrics you need to truly quantify your lab’s day-to-day operations, and find areas for improvement.

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