Our Medical Inventory Services
Whether your medical inventory is large or small, DSC can provide the level of detail crucial for statistical analysis and process improvement initiatives while satisfying the financial data requirements of accounting. Scroll down for more on these and additional services available.
Our Medical Inventory Services
We will help you get on top of your hospital and medical inventory needs.
Most hospitals, clinics, pharmacies, and other medical institutions lose large sums of money each year from the mismanagement of their medical inventory.
Medical inventory is not easy to maintain. There are so many people and variables involved, along with the multitude of locations, closets, rooms, shelves, carts, and cabinets where the inventory is kept. Keeping good care and track of your inventory is very difficult.
This is where DataSolutionsCorp comes in. We have been involved in medical inventory management for over 3 decades. We know medical inventory and the challenges it presents. Together we can solve your inventory problems.
Let’s get together and resolve your medical and pharmacy inventory issues.
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Data Capture
Professional staff trained in hospital protocols.
Cycle Count Program
Cycle Counts may be performed on any number of product types such as consignment, perpetual, and implants.
Laboratory Data Capture & Inventory
We will conduct a physical count of your laboratory supplies using proper Units of Measure based on item master criteria.
Consigned to Owned Confirmation™ Program
We will schedule meetings with the manufacturer representatives and vendors of the consignment products to collect, review, and update contracts. When completed, DSC will conduct the initial consignment inventory.
Pre-Inventory Training
DSC can train your department heads so that all departments are conducting inventory operations consistently and in compliance with corporate directives.
Perpetual System Inventory Updating
DSC will perform a real time inventory count of perpetual supply areas while transactions are frozen. Once the counts are audited and verified, they are posted in the system.
Pharmacy Inventory Services
DataSolutionsCorp will customize the inventory process to meet your exact accounting and reporting needs.
Comparative Analysis
Detailed report showing changes over time so that you can evaluate progress.
Surgical Tray Audits
Surgical trays are normally included in a standard physical inventory, however, this can be offered as a stand-alone service.
Special Projects
DSC can provide fully credentialed on-site resources for support of special and/or short-term needs.
Standardization
Apply consistent inventory rules across all departments to ensure comparable data integrity.
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Have Questions?
Have questions or unique requirements or simply want to get started right away?
Benefits of a Medical Inventory and Pharmacy Inventory
Enhance your customer’s baseline while improving their bottom line! Help alleviate hospital overtime, reduce cost and risk, and improve patient care ratings. Realize an ROI in a short time frame. No fiscal year end surprises if you do bi-annual inventories. The DSC process will even scrub and cleanse your item master file. We can also rebuild your item master with fresh, consistent data to be used all through the year.
Add-on Services:
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- Comparative Analysis
- Consignment Program
- Pharmacy Inventory (inpatient and outpatient)
- Standardization
- Data Enrichment
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Benefits of a Perpetual System Inventory Update
You will receive an accurate inventory for updating your perpetual database or software within a specified and agreed upon time frame.
Add-on Services:
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- Cycle Counts
- Comparative Analysis
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We can perform Cycle Counts on any number of product types: consignment, perpetual, implants. This program allows DSC to closely measure, monitor and adjust. This program can occur monthly, quarterly, or as a pass/fail audit, and relieves the customer of the burden of performing internal or external processes. This can occur in par locations as well as perpetual areas. DSC provides a customizable “Report Card” upon project completion.
Benefits of a Cycle Count Program
Consistent maintenance provides less room for error, fewer year-end surprises, and allows a quicker recognition of an ROI for the client when implementing supply chain solution-based products. In the end, this allows for your implemented supply chain solutions to show an accurate value using current (not old) data. No more hearing “it did not work” when the customer did not manage the solution properly. The sooner the customer realizes the ROI, the more they will be inclined to support and manage it, internally or through our resources.
Add-on Services:
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- Perpetual Inventories
- Physical Inventory
- Consignment Inventory
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DSC uses a customizable approach to tailor the inventory process to your exact needs. Working with your supplies, we will create an item master with pricing to suit the requirements of your accounting team.
Common pricing practices are:
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- Current replacement cost
- Last purchase price (including Date and Invoice#)
- GPO, WAC, 340-b totals where separate stocks are maintained.
- Blended pricing calculation where single stream dispensing is performed over multiple price types.
- Preferred direct buy pricing.
- Customized pricing to your exact needs.
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DSC uses a customizable approach to tailor the inventory process to your exact needs. Working with your supplies, we will create an item master with pricing to suit the requirements of your accounting team.
Benefits of a Pharmacy Inventory
DSC will produce printed On-Site audit trails by section as the counts are completed for you to review. Preliminary reports will be provided in easy to view Excel format within 24-48 hours following the completion of the count. Reporting support will continue until all questions have been resolved, at which time the reports will be finalized.
Using an outside inventory service will eliminate overtime costs, allowing your staff to concentrate on the important work they do. It will also provide the independent “third party” impartiality preferred by accounting and auditing departments.
We will conduct a physical count of your laboratory supplies using proper Units of Measure based on item master criteria.
Items are validated and captured at point of entry with DSC’s software and compared to the customer’s item master file. Deliverables are submitted within 3 business days.
Benefits of a Laboratory Data Capture & Inventory
Consistent reporting formats and a capture of items with the proper unit of measure, including the inconsistencies in reagents.
Add-on Services:
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- Comparative Analysis
- Physical Inventory
- Standardization
- Resource Support for Optimization Programs
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Benefits of a Comparative Analysis Report
Provides the tools necessary to compare data from year to year and/or between cycles. Identifies variances, product migration, UOM inconsistencies, and possible consigned to owned differences.
Benefits of a Consignment Program
DSC works directly with the vendors and internal staff to locate and review consignment agreements, developing an accurate and complete file of agreements. The facility will have all items identified and labeled as to what is owned, consigned, or vendor owned. Additionally, DSC can continue to manage and give regular report cards to show and correct irregularities.
Add-on Services:
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- Measure-Monitor-Adjust® through interim Physical Inventory
- Cycle Count Program for implants
- Support training to department heads
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Benefits of Surgical Tray Audits
Hospitals do not realize the inventory value of surgical trays. This is an additional method of recovering large amounts of owned dollars for your balance sheet.
Add-on Services:
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- Physical Inventory
- Consignment Inventory
- Standardization
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Benefits of Pre-Inventory Training
Standardization of processes between departments will provide meaningful comparisons so that reliable data can be used in making process improvement recommendations. In multi hospital situations, creating standards for each to follow eliminates data uncertainty. Performance and results can be compared and evaluated with confidence knowing the same set of rules applied to each facility.
Benefits of of Special Projects
Allows Materials Management to augment their staff with DSC qualified resources for special projects at an hourly or daily rate.
Benefits of Standardization
Implements a structure to count the same items while utilizing the same count processes throughout the whole healthcare system creating continuity and consistency.
Add-on Services:
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- Comparative Analysis
- Consignment Inventory
- Pharmacy Inventory
- Physical Inventory
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“It was great working with you and your team.”
I am glad that everything went well.
James, White Plains
Frequently asked questions
Here are some questions we have been asked often.
If you have a question that’s not answered here, feel free to send us a message or call us. We are always happy to answer questions and help you get started getting on top of your medical inventory management.
Select a Question Below
What is the benefit of medical inventory management?
Full question: What is the benefit of medical inventory management? I mean, we get by with what we are already doing. Sure there are problems. But why would I want to hire an outside company to improve what we are already doing?
Answer: “Most hospitals that conduct “In-House” inventories do so for one purpose only – to check off an accounting requirement at year end. Assigning each department the task of reporting back what they have is like “putting the fox in charge of the hen house!” Each department counts (or estimates) what they have using rules they create. There is no standardization and very little accountability.
DSC can provide you with accurate data that can be used to quantify improvement potentials. Our data will show you where your supply chain strengths and weakness are, which will lead to increased efficiencies. You will also get the detailed accurate financial data for your accounting needs in a fraction of the time usually found when conducted In-House. Our focus is on your inventory data so that your staff can focus on their primary duties – patient care.”
How long does a typical inventory count take to complete?
What deliverables can we expect and when?
Can you provide help for a small clinic?
Full question: I am the general manager of a small clinic in Virginia with 5 general practice rooms and one exam and simple procedure room. We don’t have a large inventory, but we could use some help straightening things out. We had to cancel a procedure last month due to the item in-stock expiring causing the patient unnecessary pain that we should have been able to help with. We need to get a handle on this problem. What can you do for a small clinic in our situation?
Answer: “Proper management of your Medical Inventory Supplies will help you to do your primary job more efficiently, which is patient care. Having the right amount of supplies is crucial to your patients and your organization. This is especially true for a smaller practice such as you describe, as every dollar wasted affects your bottom line harder than it would a large facility.
DSC would recommend:
- Establish a baseline inventory. What do you have and where is it located?
- Compare quantities on hand to use needs. Establish PAR levels, re-order points, and Min-Max levels.
- Assess your risks for outdated product. Examine stock rotation compliance, look for vulnerabilities, and find solutions to fix the problem.
- Examine where supplies are stored vs. where they are used. Find efficiencies on a stock reorganization plan.
DSC can help you with all of these solutions and more.
If you need assistance, feel free to contact us anytime. Together we can work out a plan and get you help for your unique needs.”
Would DSC be able to help us manage our new inventory software?
Answer: “Yes. We would start with some questions to ask your potential software vendor prior to purchasing so that you can minimize any future “Buyer’s Remorse”. All software requires accurate data before it can do anything, and we can help provide that to you. To keep your data accurate, periodic inventories and/or cycle counts need to be performed to correct errors that will naturally occur over time. As these errors are corrected, trends may become apparent that will lead to corrective measures in training and compliance.”
Data You Can Rely On
Do you have questions or unique requirements that you would like to discuss?
Give us a call or send a message.
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