Author: Jennifer Gene

Hospitals, surgical centres, and pharmaceutical supply chains rely on state-of-the-art healthcare technology to provide the highest quality of care, enhance patient experiences, and operate efficiently. However, they also need a way to track those devices, machines, and assets so clinicians have the necessary tools available for procedures and care delivery. Without healthcare asset tracking, even the most conscientious healthcare team can misplace a device, leave equipment behind when moving to the next procedure, or hold back equipment rather than making it available to other teams. Furthermore, patients or visitors sometimes take mobile devices or assets, and teams can overlook small devices and inadvertently discard them with linens or waste.

Misplaced healthcare assets are a detriment to operations, but they also hurt a healthcare organisation's bottom line. For example, Medical Buyer reports hospitals lose between 10% and 20% of their mobile assets at an average cost of $3,000 per item.

Healthcare Asset Tracking 101

Healthcare asset tracking solutions use a variety of technologies to track assets through each stage of the care progression, from patients to pills to pumps. Hospitals and surgical centres can automate asset tracking with radio-frequency identification (RFID), Bluetooth Low Energy (BLE), geolocationing, real-time locationing systems (RTLS), or Internet of Things (IoT) sensors to tag high-value assets and equipment. Systems with active tags or sensors communicate with stationary or handheld readers, allowing teams to immediately locate assets and equipment like beds, IV poles, wheelchairs, ventilators, X-ray and imaging equipment, and surgical instruments. Asset tracking systems can even send an alert if an asset or device crosses a geofence, so staff can prevent a costly loss.

Healthcare teams can also use barcode technology to manage assets, scanning the codes when they take items out of inventory. A barcode inventory management system also helps teams store equipment and assets in the correct location so teams can quickly retrieve them when necessary.

Adding Up the Costs Beyond Lost Healthcare Equipment

Healthcare asset tracking helps hospitals, surgical centres, and other facilities avoid the expense of device and equipment replacement. However, tracking solutions also help control workforce, overhead, and inventory costs. Healthcare equipment tracking helps organisations eliminate waste in three key areas:

Employee and Clinician Time

If teams can't find the necessary assets or equipment, they spend time searching for it. A 24x7 article states that nurses spend $14 billion per year in lost productivity looking for equipment. Asset tracking solutions immediately locate the items that clinicians need, allowing them to devote more of their time to patient care.

Leases, Licenses, Late Fees

For organisations that lease equipment for short-term needs or tax benefits, the failure to return it on time will increase costs. Moreover, if a healthcare organisation cannot find and return leased equipment, the cost escalates.

Unnecessary Ordering

An accurate accounting of healthcare facilities' devices, equipment, and other assets is critical data when making purchasing decisions. Care teams may request more assets when there appears to be a shortage, when, actually, the equipment or devices are misplaced or stored out of sight. A healthcare asset tracking system will immediately reveal the number of items in inventory, where items are, and even how often teams use them, so the organisation can make the best use of their current equipment and device fleet before ordering more.

Soft Benefits of Automated Healthcare Equipment Tracking

Facilities can build a business case based on fast and significant return on investment (ROI) from implementing a healthcare asset tracking system. However, they will also see benefits related to care, compliance, and operations from streamlining equipment tracking:

• Fewer Delays: Automating tracking and locationing eliminates time spent searching for assets, keeping procedures and appointments on schedule.

• Disease Control: Tracking equipment gives facilities a quick account of all assets and their locations, so staff can consistently clean them after use.

• Compliance: Teams can successfully execute maintenance and calibration schedules when they can immediately locate devices.

• Accountability: When clinicians and staff know the facility is using a healthcare equipment tracking system, hoarding devices and equipment will decrease. The facility can identify which teams used the equipment and whether they returned or transported it as required.

• Data Insights: Data from a healthcare equipment tracking system can help a facility understand equipment usage trends and identify underutilised items. These insights help administrators make smart buying decisions and operate more profitably.

Overall, the impact that a healthcare asset tracking system has on an organisation enhances patient experiences by eliminating unnecessary delays and building confidence and trust by providing care supported by modern, effective technology. It also helps clinicians maintain focus on patients, moving asset management to the background of their responsibilities.

Upgrade to Real-Time Asset Location Intelligence

Equipping your organisation with next-generation assets and equipment empowers you to deliver the highest quality of care, but you also need the power to immediately locate those assets. In a dynamic hospital, surgical centre, or pharmaceutical supply chain environment, the best strategy is to automate with a healthcare asset tracking system. These solutions deliver ROI through cost savings by decreasing replacement costs and eliminating wasted time throughout the organisation. They also remove the distraction of dealing with lost or misplaced items so clinicians can focus on providing the best patient outcomes and experiences.

Levata's healthcare team can help match the best asset tracking technology to the needs of your facility. Contact us to learn more.

About the Author:
Jennifer Gene is the Vice President, Healthcare and Public Sales at Levata. With over 20 years of deep experience leading high-performing teams and advising healthcare organisations, Jennifer brings a strategic, outcomes-driven approach to healthcare technology transformation. Throughout her career, Jennifer has partnered with hospitals, health systems, and care networks to navigate the unique operational, regulatory, and clinical challenges that define the healthcare industry. Specializing in mobility, automation, and real-time visibility solutions, Jennifer helps healthcare leaders implement technology that empowers frontline staff, streamlines workflows, and increases productivity—without disrupting patient care.