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How and Why – Medical Inventory Management Software

Aug 27th 2015 at 11:42 PM

Running a business is a very exciting task which only those who own a enterprise will understand. The thrill which comes from having to handle complicated processes and other management within the company has an everlasting aftertaste. This thrill gets heightened tenfold when it comes to inventory control of the business. Every business has assets, deliverables, purchases and other tangible goods that need to be properly logged and tracked. In this article, it will be discussed why one needs inventory management and how one can achieve it. Let us take an example of the Medical business.

Whether you own a hospital or a clinic, or if you have a medical supplies store, it is evident from the proportions of this industry that you get a huge footfall on the premises. Your hospital has a store that keeps supplies for its patients and residents in the form of medicine, equipment, food, wheelchairs and beds, clothing, disinfecting and detox facilities, research lab and its equipment, etc. These are the possessions that are variable in nature. Their quantity constantly changes, stocks run out and restocking merchandise arrives – all these variables form a complex equation that needs to be monitored in order to control expenses. This is where a medical inventory software steps in. This software is specially designed to take care of sales, purchases, shipping, rentals and other related functions that utilize anything from the inventories department. The interesting part of medical inventory management software is the barcode that enables tracking of each and every item in case there is a discrepancy in figures.

Added convenience includes the management of the hospitals supply chain and other operations. Warehouse management is also a function accessible through medical software. This software can help the business keep track of its items as they travel from the hands of a vendor into the warehouse storage. Everything is monitored flawlessly through this software as the risk of human error is eliminated completely from the loop.

http> Medical inventory control software is a powerful tool that can deal with any and all kinds of items that come in and go out of the inventory of a hospital. If there are rental items in your inventory, they will be listed as serialized items – each rented item will have a serial number which can be tracked for billing and other periodical activities relating to it. Say for example, there is a patient who is renting a wheelchair. That wheelchair will be listed as rented in the inventory and all the payments and repairs/replacements will be listed in the software. This way, a complete history of that particular wheelchair and the expenses incurred on it can be tracked transparently. The cash inflow through rentals can also be seen, and the net cash flow on that wheelchair can be calculated. This way, optimization of the hospitals services can be analysed so as to keep them running on the positive side of cash flows. Inventories form a major portion of the revenue of a business and a hospital’s survival depends on it.

To know more about medical inventory control, visit .

About The Author

Tamara Williams has been working in the healthcare industry since many years, helping hospitals in streamlining their stock management through medical inventory software. She has written many interesting articles and blogs on the topic, with informative guides and tips to bring healthcare inventory management systems up to the mark. She recommends for medical software.

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