After labor costs and devices, implants and medical supplies are an ASC's greatest expense, according to Westchester, Ill.-based Regent Surgical Health.
Regent shared the following supply chain tip on the company's blog:
"Carrying more inventory than necessary ties up a facility’s working capital and may put an ASC in a cash crunch. Tracking key performance indicators such as inventory turnover and days in inventory also helps with maintaining supplies. A good inventory management system not only helps actively monitor prices and target discrepancies, but also leads to bottom-line improvements. ASC supply chain management is no longer just about medical equipment — technology now factors into the equation.
"Surgery centers should utilize specialized software or supply chain platforms to track all inventory. By using these systems, management can verify savings, identify mistakes and automate as many once-manual processes as possible."