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What To Look For In A Report Following A Medical Inventory

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Having the right inventory in a medical center or hospital can mean the difference between life and death. However, with the continuous increases in prices of medical stock, keeping track of the inventory can become an important part of maintaining the proper functioning of the health facility. Getting accurate inventory can be especially important for items that fall into the category of disposable medical supplies, as the global demand for these is expected to grow by approximately 6.4 percent annually, making both the demand and the costs associated with their procurement a real concern for administrators.

So the question for health care facility administrators can then be: What do you really need to know immediately following an inventory audit? Since anticipating your needs in the report can help the inventory company to properly organize and set up the system specific to your facility, here are two things to consider.

Use and disposal

Use and disposal of medical supplies affects inventory. While this may seem like a given, the data can affect the bottom line in unforeseen ways. Disposal of medical supplies should be required regularly, and this can raise the cost of waste management for the facility. Knowing the extent to which the inventory is utilized can allow for more standardized arrangements for waste management that can cut down on costs. Proper medical inventories can also help to prevent such issues as the recycling of medical wastes, as is reported to be done by almost half of the medical facilities in the U.S.

Maintaining the necessary amount of supplies and anticipating use can also affect the buying cycles of the facility. These will ultimately factor into the efficient management of the facility. 

Level of compliance 

As heavily regulated as the medical field is, there is always room for error. A proper inventory will also highlight areas where the medical facility may not be as compliant as it should be so that administrators can take the necessary steps to improve this. This data is important in helping to save the institution from such potential problems as litigation, investigations and a loss of reputation. Compliance should also examine the reliability of suppliers, the accuracy of shipments and the proper management of controlled substances such as stimulants, depressants and narcotics. 

Having a proper inventory that highlights these problems can indicate the commitment of the facility to the best interest of the patients that they serve, and this data should be easily accessible from whatever inventory system is implemented.

To learn more about inventory services, contact a company like Instant Inventory Service.