JumpTech Propels Accurate Supply Management in the Operating Room with New Forecasting and Cost of Procedure Tools
Eagan, MN – September 20, 2016 – Jump Technologies, Inc., an innovative software company that provides cloud-based mobile solutions for inventory and supply management in hospitals and health systems, will be demonstrating the new JumpStock™ OR Module at the 2016 OR Manager Conference at Caesar’s Palace Hotel, September 21-23, 2016, in Las Vegas, NV.
Problems with the Current State
Consider the most significant problem in the area of supply and device management: an estimated $5 billion in annual loss to the healthcare industry related to the supply chain in the Operating Room (OR)1.
- With disparate systems, manual processes and incomplete functionality from legacy technology, OR staff members face challenges including poor visibility to supplies, limited system integration and data sharing, and difficulty tracking and managing items inventoried in the OR.
- The lack of visibility to inventory both within the OR and throughout the hospital causes overstocking issues as well as stock-outs. It’s not unusual for an OR team to discover they’re missing an item needed for a scheduled procedure, immediately before the procedure is taking place, and not be able to determine whether that item is on-hand in within the facility.
Introducing the JumpStock™ OR Module
The new JumpStock™ OR Module takes inventory management to new levels of visibility, predictability, automation and accuracy. Jump Technologies has designed simple interfaces to connect JumpStock with a hospital’s OR scheduling and preference card systems, powerfully integrating current on-hand inventory, on-order inventory and safety stock with scheduled procedures and physician preference cards. The JumpStock OR Module helps build accurate supply forecasts needed for one OR suite, multiple suites or an entire organization, within a specified time period. In just a few clicks, an OR team member can order required supplies based on forecast.
Prior to a procedure, the JumpStock OR Module helps hospitals manage their inventory with ongoing, accurate data about supply usage, helping decrease or eliminate stock-outs, overstocking and waste – and in turn, reduce rescheduled procedures. Post-procedure, the JumpStock OR Module builds visibility to usage and cost via the Cost of Supply Report, which provides a detailed view – including price – of every item used, building foundational data for further Cost, Quality and Outcome reporting.
Using JumpStock and the new OR Module, a hospital can also:
- Classify items on the shelves as consignment inventory. This allows an organization to track these items as if they were actually in inventory, but without appearing on the balance sheet or in the P&L until they are consumed. JumpStock consignment inventory reporting enables easy reconciliation of vendor invoices for consigned items.
- Utilize new cost analysis reporting for visibility to supply costs by case, procedure or physician, and create the ability within a health system to compare data across all facilities. This data can not only help identify savings opportunities with physician preference items – making it possible to drive immediate impact on the bottom line – but also support value analysis efforts, helping enhance quality and standardization.
Overcoming the Challenges
“Over the past decade, as hospital leaders have worked to automate supply chain processes and drive cost reductions throughout health systems, the OR has remained an island with a unique set of challenges. There are an enormous variety of supplies and devices kept on hand, each of which can enter the OR via a range of channels and make visibility and tracking exceptionally difficult,” said Sophie Rutherford, vice president of Business Development, Jump Technologies, Inc. “Today, as hospitals focus on managing cost, quality and outcomes, building better visibility to system-wide inventory – and improving management processes – is a requirement for success.”
Attendees of the 2016 OR Manager Conference can see a demonstration of the new JumpStock OR Module in Booth 429.
1GHX Research: Implantable Device Supply Chain (2012)
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