Why is Asset Management in Hospitals Important?

Asset Management in hospitals is nothing but a highly-systematic and cost-effective system of planning, acquiring, maintaining, operating, and disposing of the machinery, equipment, and physical assets of any healthcare organization. Asset management plays an important role in ensuring that the critical equipment within a hospital is well-maintained, tested, and kept in a reliable working condition at all times.

But most often, due to the lack of a proper hospital asset management plan, there are multiple instances of operational inefficiencies resulting in serious medical consequences for the patients involved.

Top Consequences of poor asset management in a healthcare facility

  • Losing track of Medical Devices: There are numerous pieces of expensive equipment that are extremely vital in ensuring the highest quality care for patients in a medical facility. When these machines and devices lose their functionality or are misplaced/lost,  disrupting effective treatment of these patients on-time.
  • High Operational Costs: Hospitals without strict asset maintenance management systems suffer huge financial losses due to the need to replace the dysfunctional machinery.
  • Exhaustive Maintenance: The system of manually maintaining a record of hospital inventory using basic software such as Excel, white paper records, or dated database systems requires too much manpower and still leaves room for error.

Benefits of implementing effective asset management in Hospitals

  • Time Saver: No more long waiting time for patients. A proper asset management system ensures that the equipment and devices are right where they should be, in perfect working conditions, ready to be used by patients and healthcare professionals as and when needed. 
  • Improved Patient Care: With an asset management system in place, inventory will be easier to manage, as it would be less time-consuming than manual data-keeping and thus allow healthcare professionals to invest most of their time in patient care. 
  • A rise in Staff Productivity: Did you know that the working staff in a medical facility spend almost 25% of their active hours looking for the correct supplies to meet their patients’ requirements? With a management system, assets can be easily tracked and located in much less time. 
  • Substantial Reduction in Expenditures: Through proper planning, you can coordinate inventory maintenance and skip unwanted costs. Some healthcare asset management solutions also provide the option for you to extend warranty periods of equipment at your organization.

Medpick’s VAJRA: A Simpler Solution to Medical Equipment Maintenance and Management in Healthcare Facilities

Medpick has always been at the forefront when it comes to reducing the stress on healthcare providers, be it by simplifying the procurement process between healthcare facilities and medical device vendors, or by helping them with an efficient asset management system.  The Vajra, Medpick’s very own Android Asset Management App, is a medium to achieve the latter. 

Vajra in Sanskrit means a protective shield or a weapon of indestructibility. Standing true to its name, Vajra protects healthcare assets from getting damaged and reduces repair costs.

Why Vajra?

  • Bird’s Eye View of Hospital Inventory: ajra allows all the hospital management staff and healthcare providers to maintain a digital database of all the existing hospital databases at a single place, In the comfort of their mobile devices.
  • Warranty Extension:With Vajra, one can keep a track of when the warranty of a medical device is expiring and can extend it for maintenance purposes accordingly.
  • Provision of Annual Maintenance Contract (AMC): Medpick’s very own network of certified Biomedical Engineers spread across every city and locality ensures exceptional repair and maintenance of existing equipment databases with the AMC Services. All you have to do is download the Vajra app and schedule a service and a BME will visit your facility soon.
  • Reduction in Unplanned Costs: The on-time maintenance and Repair of Medical Devices and a track of the Healthcare Inventory in every facility reduces the quantity of dysfunctional and unused equipment, thus reducing repair costs and new equipment procurement costs.

Most medical equipment is maintained in-house. Equipment such as the CT scanner, MRI, Ultrasound, Laparoscopes, etc., are in constant need of repair and servicing. Medpick strives to oversee the demands of management and maintenance for such devices.