Work smarter. Save millions.
You’ve already saved 5% in hospital supply management by addressing everything before the loading dock. With JumpStock from Jump Technologies, you can save an additional 20% to 50% in total healthcare inventory expense by more efficiently turning inventory across med/surg locations and in high cost procedural areas. That’s money you can invest in things that will improve patient care and generate recurring revenue, often in as little as three months.
This is no time for business as usual
Healthcare is changing, and JumpStock gives your supply chain the tools to keep up. Declining reimbursements and patient-centric reporting guidelines make it more important than ever to provide cost-effective care. Unfortunately, most hospitals have inventory management problems that impact all areas of their business in some way, but they don’t always rise to the top of the priority list.
JumpStock gives hospital supply chain managers and nursing staff the power to change this with a solution that integrates seamlessly into workflows and adds visibility to high-cost and high-waste areas like the operating room and procedure rooms, where hospital supply chain management is generally lacking.
JumpStock Can Help You:
By making inventory management visible throughout a hospital or health system, JumpStock reduces staff hours spent managing inventory, reduces stock-outs and inventory hoarding, automates ordering, provides a real-time view of your entire inventory, and reduces maverick spending.
When hospital staff worry about stock-outs, they often over-order to build up their own, personal stash of supplies. This type of hoarding leads to waste. JumpStock optimizes inventory levels, allowing you to turn inventory more frequently and reduce the amount of time supplies sit on the shelves. Increasing inventory turns also reduces the risk of using expired supplies, which improves outcomes for your patients.
Engage Clinical Areas
Up to 80% of hospital supplies are used in operating rooms and procedure rooms; however, nearly 30% of these charges are not captured. JumpStock changes this dynamic with a software solution that makes supply chain management a visible element in all areas of the hospital—from the loading dock, to procedure rooms, to general med surg—without disrupting workflows. The cloud-based system requires no special equipment and is a low resource investment for hospital IT staff, making it easy for professionals in all areas of the hospital to engage in effective supply chain management.
JumpStock Offers Control And Savings Across The Supply Chain
JumpStock is a powerful tool to manage inventory from the moment the delivery truck arrives to the time supplies reach your patients.
Track supplies as they arrive at your loading dock and as they make their way through the hospital to the patient. Benefits to your hospital and clinical staff include:
- Reduced package-handling time.
- End-to-end electronic record of all transactions.
- Improved visibility of all packages in transit throughout your organization.
General med-surg rooms
By creating solutions that integrate seamlessly into workflows, JumpTech makes it easy for nurses working in med-surg rooms to track the supplies they use on the fly and connect them to a specific patient. Benefits to hospital and clinical staff include:
- Improved billing transparency.
- Detailed view of inventory for an operating suite or an entire organization.
- Accurate ordering based on scheduled procedures, on-hand inventory, and pending orders.
JumpStock brings visibility, automation, and accuracy to areas of the hospital that create significant expense and are often hard to track. Benefits to hospital and clinical staff include:
- Instant forecasting of inventory for any time period you select.
- Real-time cost data for every item used during a procedure.
- Detailed information about the price of every item used during a procedure.
Why You Need JumpStock
Get smart and savvy
Hospital waste is a problem. In 2012, the National Academy of Medicine estimated the U.S. healthcare system wastes $765 billion a year in supplies and equipment. That’s more than the entire budget for the Department of Defense. Hospitals need to become more sophisticated about supply chain management. The JumpStock inventory management solution gives hospitals the confidence and tools to manage supplies in real time, which frees up dollars and reduces waste.
Spend where it matters
Managing inventory in real time allows hospitals to redirect money to other areas that directly influence patient care and generate recurring income. For example, if a hospital that keeps $7,500 in inventory on hand and turns that inventory four times a year instead keeps $1,500 on hand with 20 turns, it will free up $6 million that can be spent to improve patient care or hire staff who will generate income.
Generate recurring income
When capital is not tied up in supplies, hospitals can invest in areas that will generate ongoing income, which can add up quickly.
- $512,000 could pay the salary of an orthopedic surgeon who generates $2,816,000 in annual income.
- $533,000 could pay the salary a cardiac surgeon who generates $2,398,500 in income.
- $204,000 could pay the salary of a general surgeon who generates $1,530,000 in income.
Patient work, not paperwork
Simplify OR automates the documentation of implantable devices – such as total joint replacements – in operating rooms (OR) and procedure suites. Automating clinical documentation allows nurses to spend more time with patients and uncovers new revenue for hospitals by:
- Accurately documenting all implants used.
- Maintaining a current charge master and item master.
- Maintaining consistency between supply chain and clinical data.
- Ensuring alignment between pricing on the hospital item master and vendor contracts.
- Accurately capturing all patient charges.
- Aligning hospital workflows with EHR or EMR goals.
Why it matters
- Nurses today spend as much as 50 percent of their time documenting cases, chasing down purchase orders for trunk stock, and working with purchasing and contracting -- time that is not spent with patients.
- Nurses lose three hours of every 12-hour shift to paperwork, hunting for supplies, and other tasks that do not directly influence patient care.
- The U.S. Bureau of Labor Statistics is predicting a nursing shortage equal to 1.2 million positions by 2022.
- When clinical staff are not focused on patients other factors suffer, such as patient safety, infection control, readmissions, and overall patient satisfaction. Inefficient inventory management in the OR also cost hospitals money.
With Jump Technologies and Simplify OR, hospitals get happy nurses, better outcomes, and more revenue. Contact us for a demo or to see how JumpStock can empower your nursing staff and improve your bottom line.
Learn more about Simplify OR
JumpStock Procedural Module
Reduce variances. Uncover new revenue.
The JumpStock Procedural Module gives nurses and supply chain staff the tools to effectively manage utilization in any area of a hospital or across an entire health system. The Procedural Module simplifies the tracking of physician preference items in procedure suites and allows nurses to:
- Instantly create a supply forecast for a select time period, a specific OR suite, or an entire health system.
- Manage and improve the accuracy of physician preference cards while reducing the amount of materials brought into an OR or procedure suite.
- Identify clinical and operational variances by procedure and physician.
- Access real-time reports and data that support new hospital performance metrics.
Why it matters
- The operating room generates as much as 80 percent of costs in a hospital, yet 30 percent of these charges are not billed correctly or at all, resulting in lost revenue for the facility.
- Approximately 40 percent of physicians say they have cancelled surgeries and 69 percent have rescheduled procedures because they didn’t have the necessary supplies.
- Recent data from Navigant that suggests supply chain standardization can save hospitals an estimated $24 billion each year.
Contact us for a demo or to see how JumpStock can empower your nursing staff and improve your bottom line.