Hospital Inventory Services

Hospital Inventory Services

Hospital inventory evaluation services help healthcare providers optimize their inventory by auditing current inventory practices, identifying inefficiencies, and take steps for improvement. These services can reduce costs, improve resource availability, and support regulatory compliance. Hospital inventory typically includes a wide range of items such as medical supplies, pharmaceuticals, surgical instruments, PPE, and non-medical supplies like linens and housekeeping, dietary supplements as well.
A point-in-time inventory audit in a hospital is a practice where all inventory items are counted and assessed at a periodical interval to provide an accurate snapshot of stock levels. This type of audit is useful for validating data accuracy in inventory management systems, identifying discrepancies between recorded and actual inventory, and supporting regulatory compliance efforts.

Grihasoft has extensive expertise providing the inventory services and helped client partners, providers annual billion dollar inventory evaluation services. It helped them to benchmark current inventory stocks and realise the huge % of savings.

Key Steps in a Point-in-Time Inventory Audit

1. Pre-Audit Planning:

  • Define the audit scope, including departments and inventory categories to be covered (e.g., pharmaceuticals, surgical supplies, PPE). 
  • Notify the stakeholders including material managers, clinicians, auditors etc.
  • Counting protocols and systems are in place.
  • Provision labelling of areas, items, using barcodes, manual tags as applicable and provisions available.

2. Physical audit:

  • Conduct a physical count of all items in stock. This can be done manually or with automated tools like barcode scanners or RFID readers.
  • Use best tools to ensure accurate data mapping and count entering.

3. Data Reconciliation:

  • Perform data validation of audited results. Pricing accuracy, UOM alignment, item status like consigned, expired et.
  • Identify discrepancies and investigate reasons for stock variances, such as data entry errors, expired items, or theft.

4. Analysis and Reporting:

  • Publish audit report that includes insights into inventory spread patterns across areas , type of inventory and recommendations for improvements.

5. Follow-up Actions:

  • Establish regular inventory reviews or cycle counting for high-use or high-value items to prevent future discrepancies.

Benefits of Point-in-Time Inventory Audits in Hospitals

  • Improved Accuracy: Verifies the accuracy of inventory records and ensures the hospital is not over -stocking or under stocking critical supplies.
  • Regulatory Compliance: Supports evidence for adherence to regulations and standards requirement.
  • Cost Savings: Identifies opportunities for improvement, such as excess ordering or items reaching expiration, allowing for cost control.
  • Enhanced Patient Care: Reduces the risk of stockouts and ensures essential supplies are available when needed.

Incorporating point-in-time audits into regular operations helps hospitals maintain better control over inventory levels, minimize waste, and support better resource management. Grihasoft has pioneered inventory management delivery services to global client partners and providers across US, India and Middle east region. Should you wish you to learn more about Inventory service please contact us or visit www.grihasoft.com