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Cost Containment Corner: Clinical asset management

July 19, 2016
From the July 2016 issue of HealthCare Business News magazine

3. Workforce deployment
Effectively deploying resources is key to cost containment. An efficient asset management solution will quickly and easily create and route work orders to the appropriate service engineer. Nurses and other clinicians are able to request service and check the status of existing requests through online service request portals, which immediately notify HTM staff on their mobile devices. Engineers have real-time access to data, enabling them to quickly locate assets, view work orders and tasks, update work order status, materials, labor hours, comments and more.

Additionally, identifying which technicians are trained on what devices and where technical training gaps are further supports cost reduction opportunities, as HTM leaders can plan for the correct resources being available when they are needed. Real-time asset information enables the entire staff to make immediate decisions on how to best manage patient workflows accordingly.

4. Capital planning
Clinical asset management plays a strategic role in capital planning, with asset expenses second only to labor costs. Unfortunately, capital planning is also a source of perpetual anxiety for many executives. All too often, a haze of uncertainty envelops the process of budgeting and allocation. Without historical trends and benchmarking to rely on, emotion can take over. With smart data analysis and the use of customizable reports and dashboards delivered directly to the C-Suite on a regular basis, executives are able to see equipment purely for its use of life and investment costs and apprehension is easily replaced by confident decision-making. Through the lens of measurable data, administrators have the ability to make financial decisions based on insights, and they feel more empowered in their actions.

5. Choosing the right solution to be a change agent
For HTM professionals in search of cost-efficiency, transitioning from utilizing the basics of a CMMS tool to leading a strategic clinical asset management solution that improves both operational and financial performance is paramount.

About the author: Jim Salmons is vice president, Philips Multi-Vendor Services.

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