Solution Enhances Visibility, Accountability In Supply Chain

By Wendy Grafius, contributing writer

Early results 2-5 percent of applicable supply spend, a significant and tangible benefit

MedStar Georgetown University Hospital, located in northwest Washington, D.C., has contracted with inventory valuation services provider, Management Health Services (MHS), to use its OptIC (Optimal Insight & Control) Inventory Services. The implementation is expected to enhance visibility and accountability within the hospital’s supply chain.

MHS carries a complete technology and specialty services platform for the healthcare industry. Its premium solution set, OptIC Inventory Services, is designed to reduce supply expense for hospitals while improving operating performance and patient safety. It continuously maintains an accurate and up-to-date profile of all needed supply items, purchases, and vendor contract terms. On-site, barcodes are used to track amounts, location, and usage of all supplies from loading dock to point-of-use. Then, the analytics engine mines the data, searching for efficiencies and opportunities to save on supply spends.

The implementation of OptIC at MedStar Georgetown will aid supply chain staff in reducing expired inventory and expedited freight costs and in optimizing the supply chain and case carts. Early results at MedStar Georgetown indicate a projected two to five percent savings of its applicable supply spend. This significant savings offers tangible hard-dollar benefits to the hospital’s bottom line.

MedStar Georgetown is a 609-bed not-for-profit acute-care teaching and research hospital founded in 1898 as part of Georgetown University. Following the Jesuit principle of cura personalis – caring for the whole person – the hospital offers a variety of innovative diagnostic and treatment options in a trusting and compassionate environment. Centers of excellence include neurosciences, transplant, cancer, and gastroenterology.

Recognized in U.S. News & World Report’s “Best Regional Hospitals”, MedStar Georgetown was ranked in 2013 as a “high performing” hospital for cancer, diabetes and endocrinology, geriatrics, gynecology, nephrology, neurology and neurosurgery, orthopedics, pulmonology, and urology. Its nursing team ranks among the top 2 percent in the nation as the hospital has achieved Magnet nursing status since 2004. Accreditations include National Accreditation Program for Breast Center (NAPBC) and American College of Radiology (ACR).

SOURCE: PR Newswire