Why should you track inventory?
How often do you track your inventory? Daily? Weekly? Monthly? How accurate are those counts against the patients you have seen and producers you have recently performed? Every time those numbers are off, is money out of your pocket.
The inventory on hand at a doctor’s office is expensive and if miscounted could result in a costly misrepresentation in the accounting system.
Counting inventory the old fashion way is labor intensive and costly. Humans are also prone to error, and over-counting or under-counting items may result in detrimental accounting errors.
Advantages of Medical Inventory Control
Every time an item is scanned into the inventory management program, several items of information are recorded into the system. One of those items of information is the expiration dates. They are easily accessed to know what products are coming up on their expiration.
Having all the information about products in one place also help if a product is ever recalled. With the simple click of the mouse, you can know exactly how many of that product you have on hand.
Having an inventory management system in place helps protect your investments. When knowing exactly what products are in storage and what products have been used during procedures or given to patients, theft is less likely.
Another key to having complete control over inventory, is being able to rotate products and ensuring instruments are sanitized before use.
Many distributors and manufactures provide group buying contracts, guaranteeing a lower price. Having accurate inventory counts will help with the reordering process. When you are better able to control ordering, there will be no short notice ordering, saving money.
Having a more accurate account of what is on hand will eventually shrink the current inventory. Being able to minimize over ordering, there will be less unnecessary items in storage and allow for a more organized storage closet.
Qstock Inventory Solutions
There are several ways to track inventory for reordering purposes. In traditional warehouse systems, a work order is prepared for goods leaving the building. In the medical field, work orders are not created, but inventory still needs to be accounted for. Qstock Inventory has flexible and unique ways of “consuming goods” to relieve the inventory, in order to better know what to order.
To find a solution that will work for your office, please contact Kim.