“Hospitals face a huge opportunity to improve compliance, patient safety and their bottom line by modernizing their medical device inventory management,” says Peter Casady, Chief Executive Officer of Champion Medical Technologies.
Chicago, IL (PRWEB) April 30, 2014
Champion Medical Technologies, a healthcare information technology company and leader in medical device inventory management solutions for hospitals, today announced that John W. Strong has joined the company’s board of directors. This brings the total number of directors to three. Additionally, Alan D. Weinstein was named a strategic advisor to the company.
“Hospitals face a huge opportunity to improve compliance, patient safety and their bottom line by modernizing their medical device inventory management,” says Peter Casady, Chief Executive Officer of Champion Medical Technologies. “John and Alan are respected industry leaders with an impressive track record of innovation in hospital supply chain management. Their strategic counsel will play an important role in our growth strategy and delivering our message to hospital decision-makers. I am delighted to welcome them to Champion."
“Hospitals nationwide lose up to $27 billion every year due to obsolescence and loss because of the limitations of manual record keeping systems to accurately track medical device inventory,” continued Casady. “The FDA’s UDI-labeling rule increases the capability and urgency for hospitals to tackle this challenge. UDITracker® provides a comprehensive, medical device implant inventory management solution that empowers hospital supply chain executives with the tools to drive down costs, increase patient safety and overall improve patient care.”
John W. Strong is a healthcare supply chain consultant and serves on the adjunct faculty of the Sheldon B. Lubar School of Business, at the University of Wisconsin in Milwaukee. He is the founding and former Chief Executive Officer of Consorta, a $5-billion hospital group purchasing organization, and served as Chief Operating Officer of Premier, Inc. Strong is an honoree in the Bellwether League’s Health Care Supply Chain Hall of Fame, which recognized his outstanding contributions to healthcare supply chain management, innovation and leadership.
“I am excited to be joining the Champion board and contributing to the growth of the company,” said Strong. “Increasingly, hospitals view the supply chain as a strategically important area to improve cost, quality and outcomes and Champion is uniquely positioned to solve these challenges across healthcare.”
Alan D. Weinstein has spent his entire career in healthcare focused on developing startup businesses that provide services to hospitals through shared programs intended to achieve greater economies of scale. He is the founder and former President of Premier, Inc. and founding CEO of Premier Health Alliance. He serves as a consultant to healthcare startups.
“Champion has been a leader in the tissue tracking market and I look forward to playing a role in the company’s success story as the market for UDI Rule compliance expands from medical device manufacturers to healthcare providers,” said Weinstein.
Managing medical device implant inventory is among the most expensive challenges in healthcare. Medical device implants are one of the most expensive materials used in clinical care and yet most hospitals use manual processes to track regulatory compliance and patient use and to manage inventory. Poorly tracked vendor-delivered, consigned and expired medical device implants cost the hospital industry as much as $19 to $27 billion annually in wasted inventory.
ABOUT CHAMPION MEDICAL TECHNOLOGIES
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 solution UDITracker® is a comprehensive, medical device implant inventory management platform that integrates regulatory compliance, inventory management, quality assurance and product recall inventory matching into a single, streamlined system. Using barcode scanners and smartphone apps, users capture data once and record accurate information to ensure patient safety, inventory cost savings, analytics and benchmarking.
UDITracker® powers a suite of innovative solutions including GraftTracker® for tissue tracking and regulatory compliance, UDITracker Interventional® for cardiac cath lab and interventional radiology inventory management, RFID swipe, grab and go™ storage solutions, QuickCheck™ for quality assurance of vendor-delivered inventory, and RecallConnect®, the only real-time recall inventory matching system on the market. RecallConnect® is a Chicago Innovation Award winner in recognition of its unique patient safety features.
UDITracker® features interoperable interfaces to most electronic health record and materials management information systems, bridging the gap between patient care and supply chain information systems and empowering hospitals with the insights they need to improve patient safety and lower operating costs.
For more information please visit http://www.championmt.com.