May 25, 2023 | Expert Insights
If you’re facing a hospital liquidation, you may be feeling overwhelmed by the complexity of the process. But hospital liquidation projects don’t have to be a hassle. In fact, with the right team on your side, you can successfully complete the process with...
May 18, 2023 | Expert Insights
Inventory reconciliation projects involve validating a facility’s physical inventory against its records. It ensures a facility’s records accurately reflect actual inventory, removing phantom assets and adding equipment not recorded at acquisition. Assessments can...
Apr 6, 2023 | BidMed Technology, Expert Insights
The healthcare industry wastes about $700 billion in expenses every year, according to a 2009 Thomson Reuters report. And with nearly 20% of US hospitals in danger of closing due to financial concerns, cost-cutting solutions have become crucial. Leveraging internal...
Mar 30, 2023 | BidMed Technology, Expert Insights
One common failure we see for maintaining accurate inventory is a breakdown in how teams at your hospital communicate between departments. Many health systems have separate biomed and financial ledgers. These records frequently don’t match, nor have common unique IDs...
Mar 23, 2023 | Expert Insights
Capital inventory accuracy is important for more reasons than just effective patient care. An inaccurate inventory list can leave your hospital open to audit complications. It also creates failures in operational efficiency and future equipment planning. Plus, removed...
Mar 8, 2023 | Expert Insights
Keeping hospital operating costs down can be a struggle. According to Becker’s CFO Report, hospitals’ medical equipment lifecycle (MELC) costs average $93 billion a year. Of these costs, up to 16% are lost due to inaccurate information and lack of resources. One...
