Healthcare Asset Management ROI

Effectively managing mobile assets in today’s hospital environment is critical.  CDO Technologies understands how to balance timely and compassionate medical care and real-world business issues, such as reducing equipment rental burdens, loss prevention, staff welfare, acquisition management, asset hoarding and loss, and other issues affecting bottom-dollar profitability.   CDO Technologies’ Healthcare Asset Visibility Solutions are designed to help meet a healthcare facilities need to speed service delivery and drive efficiency without minimizing the patient’s or resident’s care experience.

Asset Visibility… 

Asset visibility means more than simply finding things faster.  It means true asset management, equipment monitoring, and empowering management to more efficiently acquire, manage, track, and dispose of assets… and with full integration into existing inventory, accounting, customer, and management systems.  

Real-World Implementations… 

Is implementation cost holding you back?  CDO Technologies has real-world implementation experience and understands how to maximize your current infrastructure investments (such as exploiting your existing wireless LAN access points), reduce the RF reader population by better placement and tuning and turning to new technologies, such as low cost IR tags and readers.  CDO Technologies has installed over 500 hospital-based readers and 20,000 tags, wireless LANs, and RFID networks.  

Solid Partner… 

CDO Technologies brings trusted, repeatable, and scaleable solutions built around RF Code’s proven RFID and IR hardware products and data management platform.  In 2004 the companies entered into an initial agreement calling for non-exclusive joint product development to exploit CDO Technologies’ application development, integration experience, and installation capabilities and RF Codes’ product platforms and industry knowledge.  This agreement has been the foundation for products in the healthcare, defense, and automotive retailing sectors as well as broad asset management applications applicable across most industries.  

The Numbers… 

“Lost and stolen equipment costs U.S. hospitals as much as $4,000 per bed each year - a figure that can double when misplaced and improperly used items are factored in,” according to Al Wofford, President and CEO of CDO Technologies.  “We can optimize equipment utilization, reduce costs, and improve patient care dramatically.  Some hospitals spend as much as $50,000 a month in unnecessary medical equipment rental fees.  CDO Technologies and RF Code are ideally suited to tackling these problems,” concluded Wofford.   Erik J. Wood, Business Development Manager at RF Code added that “based on real-world implementations, some hospitals have discovered that some staff spend over 30% of their shift looking for equipment… imagine the savings of shifting this work load to more productive tasks.”  

The Benefits… 

CDO Technologies’ and RF Code’s Asset Visibility Solutions deliver proven ROI in less than one year.  Let us show you how.  Depending on your requirements, existing infrastructure, current systems, and objectives, we can tailor an installation meeting your needs and bring a wide variety of benefits, including: 

Locating high-value, mobile assets in real time from anywhere in a specific department, facility, or healthcare network.   Reduce loss, theft, and other shrinkage using automated “out-of-bounds” alerts   Improve asset management and acquisition with automated alerts, minimum buy quantities, system wide inventory counts, and approval routing   Incorporating call-button style tags to reduce the number of hospital-wide systems and improve patient locating capabilities   Increase billing accuracy by associating equipment location/use to patients   Improve compliance posture by automating maintenance for JCAHO   Reduce Sarbanes-Oxley inventory nightmares with On-Demand Inventory   Increase patient throughput by making sure patients and caregivers come together at the right time and place   Reduce capital expenses by improving utilization of existing assets

 The ROI…   

“Every client poses unique challenges,” says Stefan Ries, CDO Technologies Director of Healthcare Solutions, “but there is little doubt about the payoff.”  Ries argues “that traditional ROI analysis is too limited in scope to fully capture the ROI.  Some of the benefits, such as asset management, easily lend themselves to calculating a hard dollar ROI.  In fact, some hospitals are announcing ROI numbers in excess of 500%.  The soft side of the equation is more difficult.  How do I assign a dollar value to improved patient safety or increased employee moral?”  Where do the savings actually come from: 

Hospital administrators site the "soft" returns of RFID Asset Visibility as equally important as hard-dollar savings

Increased Revenue… 

• Improved asset management and acquisition 
• Fewer equipment rentals 
• Increased billing accuracy and collection

Cost Avoidance… 

• Improved asset utilization 
• Better equipment maintenance 
• Improved inventory controls 
• Squeezing the supply chain 

The softer side of things… 

• Improved workflow and processes 
• Increased staff and patient satisfaction 
• Reduced risk of equipment failures 
• Peace of mind associated with JCAHO and SarBox compliance 

Call today… 

Want more information?  Call us today at 877-787-RFID (7343) or email us and we will contact you.  Thank you.