111H—How to Use RAIN RFID Technology, KPIs and Supply Forecasting to Attain Data-Driven Clinical Inventory Optimization
Wednesday, March 30th
About the Session
Using a case study from Loma Linda University Health (LLUH), we will educate learners about how to use RAIN RFID technology, key performance indicators (KPIs) and supply forecasting to attain data-driven clinical inventory optimization.
Supply chain costs continue to be a significant expense for hospitals, and the COVID-19 pandemic has made it abundantly clear that better supply chain visibility and predictability are needed to manage hospitals’ operations and resources because it enables hospitals to plan and scale resources up or down depending on the situation. Smart KPIs— such as those tracking expiring or expired inventory, stagnating or unused items, and consumed (vs. purchased) inventory—provide hospitals with the data visibility needed to guide and achieve inventory optimization and alignment with clinical needs, while also preventing waste and unnecessary spending. Using automated RAIN RFID UDI data capture technology to feed these KPIs, hospitals can engage the data to track medical devices and supplies from the manufacturer’s supply chain all the way to the point of care.
The International Heart Institute (IHI) at LLUH lacked control, visibility and automation in managing consumable devices and supplies inventories, resulting in high rates of wasted and unused inventory, and inaccurate and incomplete supplies documentation and billing at the point of care: <50% of cases had their supplies captured accurately and >50% of items on-hand had no traceable correlated purchase history.
We will share information about how IHI achieved the following goals: expired items maintained at <1% of total inventory value; unused inventory and inventory above recommended par levels reduced by ~50%; and billing accuracy increased to >90%. IHI also gained full visibility for each item from requisition to billing, automated procure-to-pay processes, and reduced waste, while ensuring accurate clinical documentation and charge capture. We will dig deeply into the successes and challenges in a way that illustrates clearly how IHI used the above strategies to optimize its clinical supply chain.
Learners will gain practical knowledge for implementing meaningful KPIs and RAIN RFID data capture technologies to address their organizations’ supply chain problems so that they can achieve data-driven clinical inventory optimization.
- Learners will be able to describe how RAIN RFID technology works to capture clinical inventory data, optimize clinical inventory and improve patient safety.
- Learners will be able to design their own KPIs and supply forecasting strategies in order to gain the required data visibility to achieve inventory optimization and cut waste.