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The healthcare landscape is continuously transforming, as evidenced by major developments like Cencora’s acquisition of Retina Consultants of America for approximately $4.6 billion. Amidst evolving market conditions, the importance of flexibility and autonomy in healthcare management remains clear.

Buy and Bill is a process used by physician offices to buy medications they can administer directly in the office. The mechanisms behind this choice are quite straightforward: The healthcare provider purchases a drug from a distributor and then stores it until it is used on a patient. Once this happens, the provider submits a reimbursement claim to collect from insurances and copayments.

In this article, we will go through the present and future of the healthcare industry and how innovative technologies like telemedicine, patient portals, collaboration platforms, AI, and remote patient monitoring can help run practices more efficiently and reduce healthcare costs.

Supply chains haven’t stabilized yet, but by adopting smart inventory management tactics and diversifying their supplier base, it is possible to manage the inflationary fall-out and rising prices.

ABC analysis is a commonly used inventory management technique. It determines the value of inventory items based on their relative importance to the business.

Case costing analysis, which captures both the costs of supplies used as well as any indirect costs rolled into the surgery as well, will help any surgery center gain a far firmer handle on their spending without compromising patient care.

The use of lot and serial numbers enables manufacturers and government agencies to track products end to end in each step of the supply chain, from the moment they are manufactured to when it’s dispensed to patients.

Simply put, the definition of wrong medication refers to giving the incorrect medicine to a patient against the prescription.

Ambulatory Surgery Center growth continues to accelerate. Here's how to improve your ASC supply chain's efficiency.

When physician offices make purchasing decisions for acquiring drugs, they usually follow a buy-and-bill process. The 'buy' aspect refers to providers ordering the medication, while the 'bill' has to do with getting reimbursements from third-party payers.

There are many advantages to using a medical inventory management system in your clinic or healthcare organization, but these will become more evident if we first take a look at what things are like when you don’t have one. 

Our recent survey of Retina and multi-specialty practices provided some noteworthy insights regarding the challenges they now face. While many of the responses were as expected, they serve as a humble reminder that we are truly ‘in this together'.

For any medical facility, the risk of having drugs that don’t work properly, are expired, or aren’t available can be deadly. For retina clinics, injection medications are especially costly and there are risks such as a product being unusable because it’s gone past its expiration date. 

To tackle these issues, clinics often use medical inventory management software to improve overall structure and efficiency. This can benefit the entire team: doctors, administrative bodies, custodial staff, and even patients.

Whether it be determining par levels and creating purchase orders or tracking expiration dates, effectively managing your inventory can help your clinic be both more efficient and profitable.

Modern retina practices deal with an inventory of very expensive injection medications. When even a small number of doses are not paid for, are lost or spoiled, the cost is significant.ArbiMed Retina is a modern dose-tracking software designed specifically for retina specialists. Using the system, each dose is accounted for, so the practice can know what is on hand, where the inventory is located, the lot numbers, expiration dates and value.

To be successful and stay ahead financially, clinics have to identify operational speed bumps within their existing processes and workflows, starting with inventory controls related to surplus, cost and potential waste, likewise, assess staff functionality and productivity. In order to optimize their operation, they should explore viable technology options which will assist with controls and efficiency.

Retina & Ophthalmology practices can use to help better assess their inventory management and dose assignment process.

How can accurate and timely data help individual practices and facilities strengthen their balance sheets?

In an increasingly challenging health care environment, medical practice software and other investments can help your practice continue to succeed. With the right decision-making process, you can be sure to make a sound decision that will bear positive results for the path forward.

In its basic form, dose tracking is simply knowing where every dose is at any given moment. This ideally involves assigning a unique identification number to each dose, and then using that number to track dose movement into and out of the office.

As technology continues to reshape healthcare management, blockchain has been discussed as a possible innovation that can bring radical changes to the industry. But are these improvements feasible, or do they bring added risk?

In developing better strategies for patient care, one key component is data management and analysis. Often there can be substantial benefit simply from leveraging the data you already have.

Perpetual inventory systems can help your business control costs and stay on a path of healthy growth

Hospitals often struggle with inventory management. Are there strategies for bringing this problem under control to better serve patients?

As the global community now struggles to find a solution for the recyclable waste crisis, what can medical providers do to address this challenge?

Barcoding in healthcare promises to be a game changer for inventory control. But how can medical providers best use barcodes for their needs?

Technology can provide an effective tool in the fight against prescription drug abuse

The only sure thing in the coming years is that uncertainty in the health care industry will continue. As political leaders continue to debate changes to existing legislation, physicians and facilities must find ways not only to survive but also to prosper in an increasingly unpredictable environment.

Running out of medical inventory can be costly to your practice in many ways, but how can this be avoided?

Software deployment can be one of the most stressful experiences many organizations encounter, especially for office management technology. Yet there are things you can do to make the process flow smoothly.

A few simple tips for selecting medical inventory management software can keep the process practical, rational, and ultimately profitable for your medical practice.

Medical inventory management is less about medical office size and more about about operational complexity.

Growing competition in urgent care brings the risk of losing patients, or not getting new patients as in the past. The reward, however, can be substantial given the continued interest in the convenience and effectiveness of urgent care.

The ABC-VED matrix looks at both cost and criticality in helping you build and manage your medical inventory

When using Excel spreadsheets to manage inventory, make sure to capture the information that identifies each item, and its location. This method, however, relies diligence to maintain accurate information, and this can be difficult during a typical busy day.

There are a number of factors that make your practice unique, so it's important to find an inventory control technique that fits your needs.

In an environment of increasing business competition, industry specific software can be a powerful tool to help your business not only survive but also maintain a path of healthy growth.

Urgent Care Centers are increasingly using inventory management software to optimize purchasing and lower costs.

While you were in the stock room you might have noticed that some of your products had no barcodes on the packaging at all. This creates a problem when implementing a barcode system. How do you track an item without a barcode?

These seven tips will help ensure a smooth implementation process when your medical, dental, or veterinary practice decides to purchase a new software.

Medications are some of the biggest expenses any clinical setting incurs. What tools do you have in place for expiration tracking?

Siddhartha Mukherjee writes about the continuing importance of doctors in a world of AI

Understanding PAR (Periodic Automatic Replenishment) Levels is critical to managing any medical practice or facility, since PAR levels help control spending and maintain stocks. This will be especially important as providers navigate an environment of continuing uncertainty in the healthcare industry.

To some AI, or artificial intelligence, may seem like a remote concept, but the reality is that AI already exists. In what ways can machine intelligence transform the science and practice of medicine?

Selling products to patients can increase your revenue but follow these tips to do it right.

Many medical practices and facilities estimate how much inventory they will need using traditional methods like Excel or pen and paper. This approach is simple at first, but its limitations will be apparent as the practice grows. What other methods are available for a growing business?

EDI technology is not new. But many medical practices are still not taking advantage of its capabilities to optimize spending and save money.

How can you avoid common pitfalls as you select and use inventory software?