I’ve heard that, in the gambling industry, casinos refer to their big-spending, gambling-crazy high-rollers as “whales.” These wealthy gamblers spend (or should I say, “lose”) a significant amount of money when they visit a casino, and certain casinos target these “whales” as a means to boost their annual net income.
As you look to implement an enterprise-wide RTLS solution for asset management, which assets should you be targeting? Which assets are your “whales”—the assets that have the biggest impact on your bottom-line?
As part of our RTLS+ solution implementation process, our team will work with your hospital, and your actual equipment data, to help you determine the set of assets you should manage with your Intelligent InSites RTLS solution, including a prioritization of assets given your particular goals and requirements.
There are many different criteria for determining which assets to track and manage with RTLS, including shrinkage reduction, patient safety, compliance, and the reduction of non-value-added (NVA) time.
When talking about the “whales” of asset management, however, it is almost always either inventory “right-sizing” or rentals reduction that promotes a particular equipment category into the Top 5 “Must Track Items” list.
Based on our experience across multiple enterprise-wide RTLS solution implementations, utilizing our RTLS+ process for calculating, monitoring, reporting, and managing hard-dollar ROI, here is a typical Top 5 list of the “whales” of RTLS asset management:
1. Infusion Pumps
2. Ventilators
3. Pulse Oximeters
4. Stretchers
5. Telemetry Transmitters
There were several other equipment categories that just missed the cut, including wheelchairs, bladder scanners, Bi-Paps, and Dinamaps…
By tagging Top 5 “Must Track Items” (or “whales,” if you’d like), and using an enterprise-wide RTLS asset management solution to optimize your inventory and your equipment processes, you will see substantial hard-dollar cost savings and a significant improvement in your bottom-line.
If you have any questions or comments, please write more below. And, if you are interested in signing up for an RTLS+ Value Analysis to find your own “whales,” definitely let us know!
Sincerely,
Marcus Ruark, Vice President
Intelligent InSites
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