Hospitals face a huge opportunity to improve compliance, patient safety and the bottom line by modernizing their medical device inventory management.
Chicago, IL (PRWEB) June 18, 2014
Attendees at an educational webinar sponsored by the Association for Healthcare Resource and Materials Management (AHRMM) today had the opportunity to hear from Champion Medical Technologies about how the FDA’s UDI rule will transform medical device management in hospitals.
“Hospitals nationwide lose up to $5 billion every year due to obsolescence and loss because of the limitations of manual record keeping systems to accurately track medical device inventory,” said Peter Casady, Chief Executive Officer of Champion Medical Technologies, a healthcare information technology company and leader in implantable medical device inventory management solutions for hospitals. “Hospital supply chain managers face a huge opportunity to improve compliance, patient safety and the bottom line by modernizing their medical device inventory management."
“The UDI rule creates a standardized labeling format that makes it possible to capture, document and share information about medical implants between the patient electronic health records, operations and financial systems," said Casady. "The ability to mine this data will empower hospitals with the insights they need to make informed decisions that fulfill AHRMM’s mission to drive down costs, improve quality and patient outcomes."
Standardized labels mandated by the UDI rule are an important tool in tackling these challenges, but Casady emphasized, “The benefits only materialize if hospitals streamline their processes, automate their data entry and adopt the UDI labeling format.”
“The first phase of the FDA’s UDI rule begins in September," said Casady. “It would be a mistake to think that the patient electronic health record will serve double-duty as a hospital’s medical implant management solution.”
Casady explained that medical device management bridges the information gap between the patient’s EHR, inventory management and regulatory compliance on the clinical side and the hospital’s supply chain systems on the business side.
“We developed our own UDITracker® as a comprehensive solution that integrates regulatory compliance, inventory management, quality assurance and product recall inventory matching into a single, streamlined medical device implant management system,” he said.
ABOUT OUR COMPANY
Champion Medical Technologies is a privately held, healthcare information technology company and leader in implantable medical device inventory management solutions for hospitals. Champion’s flagship system UDITracker® captures, documents and shares medical implant data between patient care and supply chain information systems, empowering hospitals with the insights they need to drive down operating costs, improve regulatory compliance, increase patient safety and overall care.
UDITracker® is a comprehensive solution that integrates regulatory compliance, inventory management, quality assurance and product recall inventory matching into a single, streamlined medical device implant management system. Using barcode scanners, smartphone apps and RFID storage units, users capture data once and record accurate information to ensure patient safety and inventory cost savings and to generate business-decision making analytics and benchmarking.
UDITracker® features interoperable interfaces to most electronic health record and inventory management systems, ensuring that medical device data can be traced and tracked and information can be searched, sorted and shared within a single hospital or across a group of hospitals.
Founder and Chief Executive Officer Peter Casady established Champion Medical Technologies in 2006. Today, it serves more than 200 hospitals and major medical centers nationwide and is the market leader in tissue inventory management and compliance solutions.