In the intricate world of healthcare supply chain management, materials management leads often encounter various challenges that can impact the efficiency, cost-effectiveness, and overall quality of care delivery. Insysiv, a revolutionary solution, offers tailored strategies to address these challenges effectively. Let’s explore five common hurdles materials management leads face in healthcare supply chains and discover how Insysiv can provide solutions and support to overcome them.
Challenge: Healthcare supply chain managers often grapple with pricing complexities, especially in physician preference items (PPIs). The prevalent pricing model heavily relies on purchase commitments rather than market share, leading to inflated costs.
Insysiv Solution: Insysiv offers a data-driven approach to predict future usage patterns, enabling more accurate pricing strategies. By collaborating with staff and vendors, Insysiv ensures that pricing aligns with actual needs, effectively optimizing the cost of doing business.
Challenge: Incomplete data on actual lab utilization rates by product SKU can lead to incorrect inventory levels. Emotional stocking can result in over-supply and expiration waste, while failing to capture all product movements within the lab can lead to stockouts.
Insysiv Solution: Insysiv’s advanced metrics provide precise utilization data by SKU and real-time tracking of product locations. This data allows materials management leads to right-size their inventory and eliminate both over- and under-stocking, optimizing resource allocation.
Challenge: Expiration waste often results from overstocking and incorrect rotation of products on the shelf. In the fast-paced healthcare environment, lab staff may not have the time to select the oldest products, leading to unnecessary waste.
Insysiv Solution: Insysiv helps organizations right-size their inventory based on utilization rates and tracks the expiration dates of every product. When products become “at-risk,” Insysiv provides timely alerts, empowering healthcare providers to prevent wastage.
Challenge: Healthcare supply chain managers often grapple with manual data entry in the purchase order process, leading to inefficiencies and increased costs. Managing bill-only transactions, which may require separate purchase orders per product, is often intricate and time-consuming.
Insysiv Solution: Insysiv streamlines the purchase order process with automation, simplifying requisitioning and bill-only transactions. This not only saves time but also reduces operational costs, making the procurement process more efficient.
Challenge: Materials management leads often lack comprehensive data on utilization rates, making it challenging to make informed decisions on various aspects of healthcare supply chain management.
Insysiv Solution: Insysiv provides comprehensive utilization rate metrics, enabling organizations to make data-driven decisions on pricing, procedure profitability, and more. With these insights, materials management leads can optimize long-term financial stability and operational efficiency.
Insysiv is a powerful ally for materials management leads in healthcare supply chains. By addressing these common challenges and offering innovative solutions, Insysiv empowers organizations to enhance cost-effectiveness, operational efficiency, and sustainability. Embrace Insysiv to revolutionize your healthcare supply chain management, drive profitability, and ensure better patient care.