Fusion Newsletter Article: Sweeping Up Floor Stocks Dollars

Sweeping Up Floor Stocks Dollars

 

Sweeping Up Floor Stocks DollarsHealthcare sites all over are trying to find ways to save money and one area that can have an immediate impact is tracking floor stocks.

By definition, floor stocks are meant to support a patient during their stay and should be treated no differently than the medication they receive. However, because the process is often manual, it can be costly and inefficient. Inventory staff members can also place items on a cart without any knowledge of how much each cost center needs.

Furthermore, staff members often make multiple trips a day to one or more locations to stock items, meaning extra labor and an additional factor impacting cost.

As you can see, if not managed properly floor stocks can significantly affect a site’s budget.

Manage Your Operation, Not The Other Way Around

The best advice someone ever gave me was to manage my operation, not let the operation manage me. Simply put, know what is going on and control it. Part of any successful operation is utilizing this same philosophy. By knowing what is happening within your operation at any given time, you are then prepared to make better decisions that will ultimately make you and your facility more successful.

What can help when it comes to stock management and item fulfillment at your facility is automation.

Through automation software, specifically utilizing mobile devices, staff can easily visit cost centers, enter the item amounts needed and develop delivery requirement lists for staff who stock those products. Not only does this streamline the item fulfillment process, but it ensures you are monitoring and controlling the activity at each location.

Labor is a very costly necessity and controlling it can make or break you as an organization. Many organizations are also required to do more with less, so making the process as efficient as possible is the only option.  Because automation allows staff members to make only one trip between inventory and a cost center, resources can be used much more effectively and even reallocated to other areas requiring more.

Additionally, automation is a paperless method. With that in mind, it reduces costs and provides a method of accountability through signatures. What makes this even more important is the fact that floor stocks are truly meant for patients. By placing that responsibility on staff, it reduces the likelihood of employees using the items at their leisure when hungry or thirsty.

Start Saving Today!

There’s a lot to save when it comes to floor stocks and automating is a huge part of that. There are also great benefits to food and labor costs. So don’t let it be an afterthought any longer. Take control of item fulfillment at your site and start sweeping up the savings today!

 

 

Michael Andersen, Account Relationship Management SpecialistArticle by: Michael Andersen, Account Relationship Management Specialist; Fusion, 4th Quarter, 2017