Question

Is it necessary for a health facility to keep inventory? Your answer should be at least a page work

Answer 1

Ans. However, a doctor needs the help of medicines, equipment, and staff to cure a patient. But most importantly hospitals and doctors need an inventory management system. Inventory Management System also assists hospital staff. It increases accuracy and saves time as well as money.

With the help of Inventory Management software, any hospital or medical store can keep precise and updated stock records. Especially for pharmaceuticals and surgical equipment. It is one of the most significant jobs for any hospital organization.

It informs which pharmaceuticals are less in stock, how much available in stock. It keeps tracks of all the medicines so it can also assist you in managing medicines also alerts you when the expiry of medicine is coming.

When it keeps tracking your assets efficiently then there is no fear of theft and stolen assets (Surgical Equipment, Medicines & Medical devices). It also informs you about the condition of the surgical equipment for its maintenance.

The hospitals have implantable medical devices such as surgical clips, which are costly but small in size. It means that they can be stolen easily. But these medical devices have a serial number through which you can track its movement, with the inventory management system. Until it is utilized for the patient.

We know that in a hospital there are several assets, which are precious. If any assets get stolen, no wonder it can lead an unfortunate consequence. Also, it can make a bad reputation for the hospital. This is why inventory management software is very important.

Asset Tagging for Check in check out process –

To expand the effectiveness of Inventory Management System you should utilize asset tagging. As a professional practice do not utilize the serial numbers as they may be have used before hence it can be a duplicate serial number and can lead to error. Tagging equipment is essential in order to track usage.   

Efficient Stock management –

As we have mentioned earlier, you can well manage all your pharmaceutical with the software. It also informs you about the expiry date of medicines and when will be stock exhaust or is it overstock. Overall, the software also enables you to track easily the current stock of medicines.

Use analytics to make effective decisions –

The inventory management systems gather the information that transforms into analytics, which enables you to use inventory efficiently. You can make better decisions to estimate demands more precisely.   

Real-time tracking –

The software provides you real-time tracking which means the inventory is updated all the time. You will always have exact accurate inventory counts. You can also track inventory orders and automatic re-order when stock is less. If the product doesn’t reach its destination you will receive notification for it.