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Navigating Inventory Management in Specialty Care for Non-Profits & Physician Practices

Updated: Aug 31, 2018

Automating inventory management can position specialty practices for long-term success in the increasingly competitive market.

Non-profit organizations are increasingly turning to technical solutions to help them strike the difficult balance of maximizing efficiencies and lowering costs while improving care quality. And inventory management is one area technology can make a considerable impact. Automating these traditionally manual, labor-intensive processes enables practices to streamline workflows, better allocate crucial resources, maximize cash flow and establish a new level of operational visibility that ultimately improves the bottom line.

What will inventory management technology really do for me?

  • Eliminate the spreadsheets, sticky notes — and a lot more: Costly medications are too valuable to track manually when the process can be automated with exacting precision. That means less human error, fewer billing and payment discrepancies and staff freed up to focus on more critical tasks. And greater visibility into drug flow, which can reduce product loss.

  • Ensure you have exactly what you need, when you need it – in real time: Imagine being able to see on a computer screen at any moment what medications are on hand at your practice – or multiple practice locations – and reconciling that with the patients scheduled to receive them, with the click of a mouse. No more manual counts or calling satellite offices for inventory updates.

  • Right-size on-hand supply, control costs and optimize billing: Stocking too much medication can result in product loss and cash flow disruptions. It also raises the challenge of ensuring that the product ordered was administered to the right patient, billed for appropriately and that payment was received. An inventory management system can reduce the amount of drug on hand and fine-tune purchase frequency to simply and efficiently overcome these obstacles. 

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