A Three-Phased Approach
A fully optimized supply chain—one that is resilient, flexible, and proactive—will ensure hospitals can withstand future disruptions (such as a second wave of COVID-19, other disease outbreak, natural disaster, labor strike, or other event), and help them recover from the significant revenue hit caused by the pandemic.
- PHASE 1 Normalize Operations and Improve Inventory Management
- PHASE 2 Regain Lost Margins and Improve Revenue
- PHASE 3 Fully Optimize the Chain with AI-Based Analytics and Demand Forecasting
Helping Hospitals Prepare for the Unexpected: Syft’s Incident Surge Recovery and Long-Term Preparedness Services and Solutions
Incident surge services and solutions help hospitals recover and fortify their supply chains. These include:
- Conducting inventory health checks
- Restoring and optimizing your Item Master File
- Automating manual, time-consuming tasks
- Streamlining decedent management and tracking processes
- Incorporating demand forecasting
Revenue-Enhancing Benefits of Chain Optimization: $8M to $24M in Potential Gains
A recent report from the American Hospital Association estimated that the total financial impact of COVID-19 on hospitals will amount to more than $200 billion in losses between March 1 and June 30. Supply chain optimization can help hospitals bounce back.
To put these findings into perspective, a hospital with $800 million in revenues that improves its SCM performance by 1% to 3% could gain between $8 million and $24 million. Read More
Hospitals’ Newest Top Priority: Supply Chain Optimization
As healthcare leaders recognize the need to optimize their supply chain and the value it provides, more are shifting their resources and priorities accordingly. A recent survey found that supply chain management is now hospital leaders’ second highest priority, outranked only by patient safety. Read more
Top Four Healthcare Supply Chain Optimization Benefits
- Enhanced patient and staff safety, as a more resilient supply chain increases access to critical supplies like PPE and ensures hospitals flag and pull expired and recalled supplies and devices.
- Higher revenue due to improved efficiency and reduced waste.
- Higher patient and staff satisfaction, as the automation of manual supply chain management processes reduces clinician burnout and lets them focus more on patient care.
- Enhanced compliance with regulatory requirements and Joint Commission standards, which are likely to increase due to the vulnerabilities exposed by COVID-19.