At ORLINK, we understand the cost pressures that force hospitals to look for ways to reduce wasted spend. A recent survey, hospital executives said finding cost savings to meet their current-year
objectives is their top challenge.
The supply chain—more specifically, inventory and order management processes—is one place to find those savings. A study from the International Journal of Supply Chain Management shows that inventory and order management costs account for 61 percent of total supply chain costs (or $61
million per year for a typical large healthcare provider).
We know all hospitals want to control their surgical inventory spend. But the monster under the
bed is the surgical preference card.
So we set out to build a tools set to help control time, tools and materials.
The concept started when our founder, Dr Wayne Colin moved his preference cards from one hospital to another. During the resulting time and hassle he realized that the problem was the preference card itself.
And he set out to do something about it.
According to a recent article in Becker’s Hospital Review, such inefficiencies, waste and duplication can have an insidious effect on a hospital’s bottom line.
“At one representative hospital the overall medical supplies budget is $12.5 million and 22,000 surgeries are conducted annually at the facility. With the cost of an average preference card topping out at $1,200, that translates into $15.8 million a year spent on medical-surgical supplies. Of that, $2.9 million is spent on items that are opened and unused, and $4.7 million on items unused and unopened (222,000 of them annually). This adds up to $1.6 million in overspend a year based on perpetual inventory inaccuracies traced to outdated preference cards.”
We’ve been developing our product for over two years. After more than 200 discovery interviews and
thousands of hours of development, we are ready to conduct beta trials with
hospitals and surgical teams.
Advancing workflow, communication, teamwork and training in the surgical environment, one procedure and patient at a time.