Difference Between Regular Asset Tracking and Asset Tracking in Hospitals

Healthcare is a different sector from other industries as it is most sensitive as it can be a matter of life and death that is why automated asset tracking is important in hospital and health-related sectors. You cannot rely on manual asset tracking. Manual asset tracking can be complicated and there is a chance of mistakes that can be lethal for business.

Hospitals have a lot of assets and that need to be managed properly. According to the report of Transparency Market Research, the global hospital asset management market was valued at US$ 5,986.5 Mn in 2018 and is anticipated to expand at a CAGR of 9.5% from 2019 to 2027”

In this blog, we will know why asset tracking is different in hospitals!

Hospitals have lots of patients that need to be monitored regularly. Especially patients who are diagnosed with Alzheimer's, patients who are seriously injured, patients who just got the surgery done are kept for observation so that if anything unusual happens doctors are informed quickly.

They need to be given medicine on time. In these types of scenarios, asset tracking can be very helpful to hospitals. Automated software can streamline operations so that productivity increases.

Asset tracking can help from keeping track of surgical pieces of equipment to HVAC maintenance. Hospitals have lots of aspects to take care of but when you try to manage it manually then you end up making lots of mistakes.

Asset tracking software is very beneficial for an organization when you have assets in abundance.

Also Read: Importance of Inventory Management in the Healthcare Industry

Different Scenarios of How Asset Tracking in Hospitals Is Different from Others.

Below are the scenarios mentioned:

1. RFID Wristband for Health Monitoring

On the patient's hand, an RFID wristband is attached that provides information of patients at regular intervals. RFID (Radio-frequency identification) keeps passing vital information to the system that helps in monitoring the health of patients.

This technology was widely used in pandemics (COVID-19 situation) when self-isolation was required. So that patients can be monitored, especially old patients. RFID tags are very helpful to hospitals in monitoring the health of patients.

2. Managing Medicine Lifecycle

Hospitals have a lot of inventory to manage such as medicines & injections. Managing medicine is not a simple task as medicines & injections have a specific period of life after that period giving it to patients can be dangerous for their health.

Automated asset tracking software can be very helpful in managing inventory. As this software allows you to put information & store it in software it will alert you when the medicine is about to expire.

For these hospital assets, RFID tags or QR Code labels can be a very effective solution along with asset tracking software. Furthermore, hospitals have other inventories as well such as sanitizers, gloves, masks which also need to be tracked.

Also Read: How Is the Tracking of Hospital Equipment Beneficial?

3. Scheduled Maintenance for Equipment

Hospitals have surgical assets & pieces of equipment that are essential for performing surgery. These pieces of equipment need to be sanitized, maintained & tracked properly so that they are always in good condition and ready for utilization.

As no hospital would want their equipment to stop working while performing surgery. For this purpose, asset tracking software provides scheduling maintenance.

Scheduling maintenance is helpful in keeping assets maintained and avoiding sudden breakdowns, so it saves expenses for unnecessary maintenance.

When assets are provided maintenance on time their life is expected to last longer than usual. It is also a benefit for hospitals as most hospitals are NGO, charity & donations.

4. Detailed Reports & Analytics

Reports are helpful in grasping the overall picture of the hospital. How assets are performing, or once the maintenance is given for how long asset is working properly & how many assets are missing or which is an asset is utilized frequently and which is not utilized at all.

These types of information are helpful in making an informed & strategic business decision.

Reports assist the hospital in discovering problems in the workflow, operation, and how they can be resolved. Reports are also helpful in increasing the productivity of hospitals.

Conclusion

Hospitals have lots of assets and inventories, but they do not have a high budget to maintain or to keep track of, that is why asset management software needs to be installed.

It can provide several advantages and save organizations from asset loss or theft, keep assets maintained & prolong asset life as well. All these factors can help hospitals to minimize expenses.

Asset tracking and management software can be very beneficial for the hospital in terms of saving money. It has several features such as reminders & alerts that notify you about maintenance, asset health.

It allows you to schedule maintenance that assists in enhancing asset life and boosting asset performance as well. Moreover, you can keep assets safe and secure from theft & misplacement with the RFID tag, Barcode tag, QR Code label assistance.

Also Read: How Asset Management helps Hospital and Pharmaceutical Industry?

Frequently Asked Questions (FAQs)

1. What happens when assets are not maintained?‍

When assets are not maintained then breakdown chances are increased. Breakdown must be reported especially important assets. If assets are not maintained then downtime decreases, a delay occurs, and productivity suffers. With this software, you can check maintenance records & all the relevant information.

2. Which type of maintenance is provided with asset tracking software?‍

Asset Infinity's asset tracking software provides proactive maintenance which means that assets are scheduled for maintenance before they fail. This software mainly focuses on preventive maintenance. This maintenance is very effective in keeping assets maintained and that leads to minimized maintenance expenses.

3. What types of assets are available in the hospital?‍

Air conditioner, chiller, generators, lifts, water treatment plant, surveillance cameras, patient bed, Sofa set, wheelchair, operation theater equipment, respiratory equipment, sterilizer machine, OT light, Surgical equipment, ECG machine, ventilator, etc.