Healthcare industry entering a period of big changes

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The scale of operations for many healthcare providers, from small clinics to large hospital groups with multiple locations, is growing as millions of people who previously weren't covered become insured across the U.S. under the terms of the Affordable Care Act. Because so many more potential patients can now access healthcare without having to deal with prohibitive financial impacts, there's a need for providers to be more efficient in their operations. Add in the expanded Medicaid coverage that is offered in some, but not all, states, and there are plenty of changes for providers to keep up with.

Because of the relatively sudden impact of the ACA - millions of new health insurance policies issued in a matter of months - the healthcare industry may not be focusing on the long-term changes that are developing. As Forbes points out, there will be significant population growth in the next 10 years. While not all of the predicted 1 billion people born will be in the U.S., a significant number will be. Besides an increase in the total amount of residents, longer lifespans mean that healthcare will have to be provided to an at-risk population for a longer amount of time, which may tax resources as well. Healthcare providers need to position themselves to deal with an increased patient base, using tactics such as improved healthcare inventory management systems.

More efficient tracking pays off
While profits often aren't the first priorities of hospitals and other organizations, they still want to save time and money. Freeing up resources by utilizing an efficient inventory management system allows employees to focus on tasks requiring critical thinking and decision-making skills instead of having to constantly be taking stock, ordering and tracking shipments. A system such as our JumpStock solution allows for these reductions in time and financial commitments by doing much of the rote work for employees and eliminating the room for error created by simple spreadsheets and paper-based systems.

For biotechnology company California Stem Cell, JumpStock has reduced the time required to manage inventory by an average of an hour per day. (see PDF below) Because JumpStock is based in the cloud and uses mobile devices - even ones owned by employees - to track stocking levels and place orders, the cost savings are remarkable. California Stem Cell saved approximately $49,000 because of the low price and flexibility of our program.

The growth of overall patient volume won't slow down in coming years; it may become even more intense. For healthcare providers trying to remain agile in a changing market, becoming more efficient is a necessity.