Inventory Management

Inventory Management

Impact your bottom line while ensuring proper management of inventory.

Managing inventory while reducing costs is effortless with HI-IQ. Reduce on-hand stock value, eliminate “just-in-case” over-ordering and generate reports to analyze usage data with our Inventory Management software. Ensure patient safety and satisfaction by always having the right product available for the procedure. RealTime dashboards communicate inventory status throughout the day, enhancing the ability to make quick decisions that will impact your bottom line.

HI-IQ utilizes key Insights to manage Inventory:

Track Lot # and Expiration:

Evaluate upcoming product expiration dates to eliminate expired product waste. Lot numbers maintained in a patient record enable quick association for recall purposes.

On-hand value:

Know the value of each product in your inventory to help influence vendor pricing. Generate cost comparisons by case, physician, and department to make impactful inventory decisions.

Set Par Levels:

Define minimum and maximum on-hand numbers to maintain a “Just-in-Time” inventory environment and eliminate the “Just-in-Case” over-ordering. “Suggested order quantities” facilitate the ordering of products via the HI-IQ Order Worksheet.

Bill for Products:

Increase charge capture and reimbursement by associating inventory to patient encounters and send billing information captured during the procedure to your EHR.

Bar code scanning:

Scanning the barcodes supplied by vendors on each product facilitates the usage and receiving of each item in your inventory.

Interface with Procurement:

Receive product updates from Materials Management as well as sending product usage from within HI-IQ back to the procurement system, and automatically notify procurement when products need replenishment.

Inventory Maintenance Dashboard

Product Usage Dashboard

Purchase Order Status

Order Worksheet

Encounter Cost Analysis

“The HI-IQ inventory management system has paid for itself by providing accurate tracking of expensive technology.

The system has allowed us to significantly reduce `inventory on hand’ with the resultant reduction in supply expense. We can customize trigger points to our needs and have virtually eliminated `just in case’ ordering.

The system has proven itself to our Materials Management department and we are currently making plans to interface it with our purchasing and billing systems.”

Tim Wescott R.T. (R)
Manager, Invasive Imaging & CV Services
MidMichigan Medical Center ­ Midland

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