Medical equipment spending in the US is estimated to be well over $200 billion each year. This accounts for more than 5% of national health expenditures. The growing need for healthcare, along with the advancements in medical technology, means the medical equipment market is projected to grow about 6% annually.
From laptops to monitors, to specialized equipment and crucial medical devices, asset management is a critical piece of the healthcare IT puzzle. Knowing where vital machines are located, what equipment needs updating or maintenance, and decommissioning machinery with HIPPA sensitive information are critical aspects for asset managers in healthcare. A recent research study conducted by AMI provides some additional information on the needs and requirements of such a critical industry.
What do Healthcare IT managers need most from HAM?
Improved Asset Utilization
By tracking and managing medical equipment and supplies efficiently, HAM ensures that resources are used optimally, reducing the need for unnecessary purchases and minimizing waste.
Reduced Equipment Downtime
Regular maintenance and timely repairs of medical equipment prevent unexpected breakdowns, which can be costly. This also ensures that equipment is always available when needed, improving patient care and operational efficiency.
Inventory Management
Effective inventory management helps in maintaining the right levels of medical supplies, reducing overstocking and understocking issues. This leads to better budget management and reduces the costs associated with emergency purchases.
Enhanced Compliance and Safety
HAM systems help in maintaining compliance with regulatory standards by keeping accurate records of equipment maintenance and usage. This reduces the risk of fines and legal costs associated with non-compliance.
Data-Driven Decision Making
By analyzing data on equipment usage, maintenance, and performance, healthcare facilities can make informed decisions about purchasing, retiring, or upgrading equipment. This strategic approach helps in avoiding unnecessary expenditure.
Energy Efficiency
Modern HAM systems often include features that monitor and manage the energy consumption of medical equipment, leading to significant savings on utility bills.
Streamlined Operations
Automating asset management processes reduces the administrative burden on healthcare staff, allowing them to focus more on patient care. This can lead to improved productivity and cost savings.
At AMI, we’ve been helping healthcare organizations track everything that matters for decades. To learn more about how asset management can impact your organization, check out our free ROI resource guide or send us a note to set up a demo.
