By Patricia Frendak
Inventory management, also referred to as supply chain management, is crucial to the profitability of an ambulatory surgery center (ASC). Accurate and timely inventory management results in increased productivity and profitability. However, when inventory is not managed effectively, the impact can be financially and operationally devastating.
When supplies are not properly tracked, it is impossible to know if a case makes financial sense. Poorly managed inventory can also cause needless cancellations and delays when necessary supplies aren’t readily available when needed. Despite these well-known financial and operational implications, inventory management is often overlooked because of its onerous nature.
When there is no inventory oversight, things can get out of control very quickly. This is especially true for a busy center, like New Britain. Upon my arrival, the sheer volume of supplies that sat unused, and untracked, was so large that it was impossible to measure its monetary value. [Read more…]