While inventory management sometimes gets pushed down the priority list for busy ambulatory surgery centers (ASCs), Regent’s Stephanie Martin says engaging staff in the function as a primary strategy can yield significant savings and reduce the amount of waste they produce by as much as 5%. In a recent article in Becker’s ASC Review, Martin shares her insights.
“A center that is not managing its inventory can mean the difference between being profitable and losing money,” says Martin, MHA, CASC, VP of Operations and Clinical for Regent Surgical Health.
Martin told Becker’s about one ASC she worked with, where tracking of procedures’ cost was intermittent rather than routine. To better gauge how the center could save money and limit unnecessary spending, she advised the surgery center to create specific preference cards for every case and capture every item surgeons were using during procedures.
“The process began a culture change that made each team member aware of each item’s cost. Expenses were captured and monitored, and waste was reduced by 5%. Those savings went straight to the bottom line,” she says.
Tips to eliminate blind spots in inventory management procedures include:
- Regularly reviewing vendor/group purchasing organization contracts for consistency
- Evaluating product pricing and swap items when change won’t impact daily operations
- Making the function exciting for employees by rewarding innovative savings ideas
Martin will address the inventory management topic as one of the key speakers at Becker’s ASC 24th Annual Meeting: The Business and Operations of ASC, slated for October 26 -28, 2017 at Chicago’s Swissotel. To register for the event, click here.
Regent Surgical Health offers ASC partners a broad perspective on protocols and solutions that truly add value, including procurement efficiencies made possible by Regent’s business relationship with Inventory Optimization Solutions (IOS). For more information about IOS and the company’s approach to inventory management, click here.