Automating Inventory Management at the site level for maximizing creditworthiness of returns

CLIENT

Health System

INDUSTRY

Healthcare

OUR ROLE

Analytics and Automation

GOAL

A large health system -- operating 51 pharmacies -- wanted to enhance their inventory management as well as their Rx returns process in order to drive greater efficiency and improve creditworthiness.

TACTICS

The Inmar Hospital Team collaborated with the client on a system-wide assessment of their returns activity -- identifying network trends and procedures needing immediate attention. The client then deployed MEDidentify® -- Inmar’s proprietary platform for enabling and guiding both trading partner- and regulatory-compliant product disposition -- to automate and enhance their inventory management at the site level.

Results

Acting on insights surfaced by Inmar and using MEDidentify to gain immediate visibility into the perishable status of medications, the client was able to:

Reduce their total expired inventory by 10% (valued at approximately $500,000)
Improve their overall returns creditworthiness ratio to 55% -- up from 40% the previous year
Increase their creditworthy inventory by $1.1 million while decreasing their non-creditworthy inventory by $650,000.

What can we help you achieve?

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