Clinical Asset Management Technology
Clinical Asset Management Technology
drive better performance and savings with clinical asset informatics technology
Medical device technology is growing increasingly complex, and health system’s inventories are growing year over year. At the same time, hospital operating margins are narrower than ever, and these inventories are spread across expanding geographic footprints and expanding non-acute care sites.
Average device utilization rate without a clinical asset management program¹
Elevating Medical Device Visibility and Optimization
The TRIMEDX Executive Overview, a unique Clinical Asset Informatics user experience, also provides health system clinical and operational leaders quick insights into the value and results of their TRIMEDX program. They will be able to evaluate the performance and ROI of their clinical asset inventory with visibility of financial savings through inventory optimization projects, OpEx savings, CapEx avoidance, and cash return, as well as capital planning insights to support strategic use of capital budgets.
Get Prescriptive Analytics with the TRIMEDX RUDR Score®
Gain Insight into Your Clinical Assets with Your TRIMEDX RUDR Score®
The TRIMEDX RUDR Score®, available through Clinical Asset Informatics, is a proprietary scoring algorithm that automatically and continuously evaluates your clinical assets for cost savings and generates prescriptive recommendations identifying which medical devices are ready for:
- Replace assets that have reached the end of their useful life and are highly utilized
- Upgrade equipment to extend its useful life and defer replacement costs
- Dispose of underutilized or obsolete equipment by selling through an auction platform that generates a cash return
- Reallocate underutilized assets to other sites of care instead of purchasing new
Access National Inventory Benchmarking Insights
Most health systems have more clinical assets than needed. Benchmarking clinical asset inventory levels and trends across all sites within the system against national averages provides insight into how the organization compares to top-performing health systems across the country. TRIMEDX benchmarking data is made even more actionable with insights that take each care site’s unique patient volumes and characteristics such as trauma or stroke centers.
The TRIMEDX database of over 5 million medical devices provides unmatched intelligence on clinical asset performance. Advanced analysis of data collected through our clinical engineering program is integrated with a variety of industry information sources to generate prescriptive and actionable insights that help health systems take a comprehensive approach to clinical asset management.
TRIMEDX national benchmarking reveals that hospitals with excess clinical asset inventory for essential equipment like infusion pumps, physiologic monitors, ventilators, and patient beds range from 23 to 43 percent¹ higher than national averages. Identifying these often easily missed surpluses can lead to improved utilization and generate even greater cost savings.
Ventilators are 42 percent higher than national benchmarks
Patient beds are 39 percent higher than national benchmarks
Act with Online Reallocation
Reallocating medical devices within a health system can both increase the utilization of current assets and address equipment needs without major capital investment. However, visibility to available devices has often been one of the major hurdles to effective reallocation strategies.
Reducing expenses and increasing patient care through device reallocation
The TRIMEDX Reallocation Platform applies the user experience of online marketplaces and eCommerce to bridge this gap. The platform automatically lists approved devices for the entire health system to be able to browse, search, compare, and request. By reallocating underutilized devices, health systems can avoid unnecessary capital purchases of new equipment and prevent increases in operating expenses to manage additional devices.
Reallocating devices based on patient demand drives financial efficiency and enhances device availability and the patient care experience. Devices not chosen to be reallocated within a client-specified time frame can be sent to auction through our full-service disposition program.
Leveraging Technology to Drive $1M in Savings
Problem: Grappling with the financial shock waves of the COVID-19 pandemic, health systems needed creative solutions to reduce capital and operating expenses. Two large integrated health systems looked to optimize their clinical asset inventory to provide a significant source of hidden financial savings.
Solution: Over a 10-week period, TRIMEDX's national benchmarking and TRIMEDX RUDR Score® automatically identified 888 devices that were underutilized at their current site of care and could be reallocated to other sites of care with higher patient demand. By leveraging TRIMEDX's fully integrated Reallocation Platform, the health system listed the devices that were available for other sites within the health system to request instead of purchasing new equipment.
The Reallocation Platform provided a reliable and scalable technology solution that:
- Reallocated 43 devices to another site of care including infusion pumps, physiologic monitors, patient beds, and more
- Avoided $1M in capital expense by using equipment already in inventory vs. purchasing new
- Prevented $60K in operational expense annually from increased inventory counts
- Supported health system sustainability efforts by optimizing use of equipment and preventing excess waste disposal
Explore How TRIMEDX's Clinical Asset Management Solution Can Help Drive Financial Savings While Maximizing Device Availability
¹ TRIMEDX internal data