Clinical Asset Management Technology

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      Clinical Asset Management Technology

    Clinical Asset Management Technology

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      Solutions

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      Clinical Asset Management

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      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. 

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    0 -50%

    Average device utilization rate without a clinical asset management program¹

    icon-chart-w-arrow
    $ 0 -100K
    Annual operating expense for every $1M in capital purchases

    Elevating Medical Device Visibility and Optimization

    Given these challenges, it is more important than ever to maximize the visibility of your medical devices to make sure they deliver value to your health system. The TRIMEDX Clinical Asset Management (CAM) Advanced solution brings state-of-the-art technology to medical device visibility and optimization. With CAM tools, you can go beyond monitoring your device inventories and capitalize on data-driven insights to make better strategic decisions that maximize the value of your investments.
    Combined with the in-depth data analytics of TRIMEDX’s Clinical Asset Informatics, CAM Advanced offers unparalleled visibility into your complete medical device inventory. Data on 5.76M clinical assets combined with organization-specific patient volume metrics, cybersecurity intelligence, and real-time utilization measurements is leveraged to create national and peer benchmarks, and provide insight, recommendations, and action plans to optimize medical device inventories, improve device availability, reduce risk, and drive savings. Informatics users can stay better informed on crucial data trends with Informatics Subscriptions, delivered to email inboxes on a daily, weekly, or monthly basis for key metrics to help make effective, strategic decisions.

    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®

    When managing medical devices, the most common capital planning decisions are related to when to replace aging equipment or make new purchases. Yet this can often leave untapped value within a health system's current inventory. Replacement also requires capital spending at a time when budgets are tighter and more heavily scrutinized than ever.
    RUDR Score
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    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 with deep logic built for artificial intelligence to automatically and continuously evaluate your clinical assets for cost savings and to generate 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
    The TRIMEDX RUDR Score® is powered by data collected across our clinical engineering and cybersecurity solutions, such as parts availability, device service history, device utilization, dynamic cybersecurity risk elements, and more. The AI-driven algorithmic approach generates prescriptive recommendations that take key financial information into consideration for estimated equipment replacement costs and current market estimates of residual sales value to help you make the most financially sound decisions for your health system. As more data is collected and analyzed, the RUDR Score® learns to make smarter clinical asset management recommendations to help you continuously optimize medical device inventories and reduce organizational risk.  

    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 36 to 53 percent¹ higher than national averages. Identifying these often easily missed surpluses can lead to improved utilization and generate even greater cost savings. 

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    0 %
    Infusion pumps are 54 percent higher than national benchmarks
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    0 %
    Physiologic monitors are 45 percent higher than national benchmarks
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    0 %

    Ventilators are 41 percent higher than national benchmarks

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    Patient beds are 33 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. 

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    Reducing expenses and increasing patient care through device reallocation

    hospital-bedThe 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.

    Case Study:
    Leveraging Technology to Drive $1M in Savings

    reallocationProblem:  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

    FOOTNOTES

    ¹ TRIMEDX internal data