With prescription medication costs representing more than 13% of U.S. healthcare spend and possibly a similar percentage of your healthcare system’s budget, it is essential for you to set goals to reduce and control medication inventory costs and improve workflow efficiency.
Our BD HealthSight™ Inventory Optimization analytics software suggests to you a list of medications to be optimized and automates your process of adjusting Periodic Automatic Replenishment (PAR) levels by providing to you dynamic projected KPI’s, financial measures and intended workflow recommendations for more efficient medication inventory levels (max) and reorder/refill (min) points, empowering your clinicians, pharmacists, and technicians to take action to reduce inventory and stock-out events, minimize avoidable waste, and improve labor efficiency.
The actionable insights provided by our analytics software helps you to determine and prioritize PAR level adjustments based on potential business impact and model them to evaluate ramifications to inventory cost, projected stock-out percent, Vend/Refill ratio, and projected refill frequency. By considering in advance the effect of PAR level changes on operational performance, you are equipped to make informed decisions that can optimize your medication inventory and avert detrimental impacts to patient care.
