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8 Benefits of Effective Asset Management in Healthcare

hospital indoor storage room full of supplies - concept for asset management in healthcare

Comprehensive facility security goes beyond security systems and includes facility management. It also includes securing and managing what is inside a facility. This is why asset management is part of any comprehensive facility security and management approach and is particularly important in healthcare. Here are a few benefits of effective asset management in healthcare:

1. Track and Locate Equipment in Real Time

Staff in healthcare facilities spend an estimated 6,000 hours a month searching for equipment. Not only does this add time and tasks to already busy schedules and contribute to a lack of productivity, but it can also become a dangerous liability during emergencies.

This is why one of the biggest benefits of effective asset management in healthcare is the real-time tracking of equipment that allows staff to quickly locate essential equipment efficiently. When integrated with call systems and incident management software, real-time locating becomes an even more valuable tool that helps improve productivity, efficiency, safety, and more.

2. Improve Patient Care

Just as nurse call systems improve patient safety by increasing efficiency, improving response times, and more, the same can be said for effective asset management in healthcare. As another facility management solution, asset management can improve staff efficiency and give them the tools they need to provide better and faster patient care.

Additionally, it can save time and allow staff to spend more time with their patients. This is why asset management, real-time locating, and more are all technologies that improve long-term care, from both the caregiver side and the patient’s perspective.

3. Use Storage Space More Efficiently

Regardless of the size of a facility, efficient use of storage is important. Not only having enough storage space, but also organizing it in a way that makes sense and does not limit access to necessary items and equipment. Asset management systems can also help create processes that allow for better use of the physical storage space available as well as better organization in it.

4. Manage Inventory Efficiently and Accurately

Asset management is a valuable tool for effective inventory management and also improves accuracy. Being able to quickly see what you have, how much you have, and where you have it is invaluable to any facility, which is helpful in healthcare and is one of the automation ideas for your hospital.

You can even integrate useful applications of video surveillance solutions to use security cameras in storage locations to monitor and count objects. Good asset management, especially when paired with environmental monitoring applications, can provide accurate inventory, improves inventory management overall, and even helps reduce waste and inefficiencies for cost savings over time.

5. Get Accurate Equipment Performance Data

A comprehensive asset management system will also provide accurate usage and performance data for assets or equipment in the system. You’ll be able to get an overview of what equipment is or isn’t used, how often, and more. This allows you to accurately and efficiently manage your facility’s equipment needs.

It can even provide information that allows you to determine an asset’s true value for insights on return on investment (ROI) and other benefits. Insights like these are helpful for evaluating assets, operations, and processes, and can also help with security budget planning.

6. Reduce Procurement Costs

Replacing lost or stolen equipment, overordering, underordering, etc. can all increase procurement costs for your facility and drain valuable resources. Asset management that improves inventory management and tracks valuable equipment can help provide savings over time.

Good asset management can help prevent equipment theft, prevent valuable assets from getting lost, and also assist with accurate and timely ordering. All of these things can reduce procurement costs over time while also increasing efficiencies in overall facility management. These are also applications of environmental monitoring in healthcare that can provide tangible benefits when combined with asset management and other systems.

7. Manage Maintenance and Sanitization Schedules

Another one of the benefits of effective asset management in healthcare is that a good system also helps you manage maintenance and sanitization schedules. Cross-contamination is a concern in healthcare facilities, especially for mobile equipment that moves from room to room.

Not only can a good asset management system track, monitor, and provide alerts for maintenance and cleaning schedules for fixed assets, but it can also provide detailed information for mobile assets as well. You can use it to help automate and manage cleaning alerts and maintenance schedules for mobile equipment as it moves into and out of storage and moves around the facility. These are some benefits of environmental monitoring when combined with asset tracking features.

8. Create Safe Waste Disposal Processes

Between biowaste, pharmaceuticals, and more, healthcare facilities have different considerations when it comes to waste disposal. Although an asset management system won’t automatically create safe waste disposal by itself, it can help you create, standardize, improve, and monitor safe waste disposal processes.

It will also help keep track of what is disposed of and where to create an audit trail. All of this contributes to a waste disposal process that is safe and in compliance with the current regulatory standards.

Improve Your Healthcare Facility With Asset Management

With so many people in and out, equipment moving around, medications, and more, hospitals need comprehensive security solutions. Asset management integrated with other security systems and solutions can help your facility get comprehensive coverage.

These are just a few benefits of effective asset management in healthcare and are why asset management is usually included in complete healthcare security solutions. If you need to update security or add asset management to your facility, contact NEPPS at 800-736-1456.