Optimize Inventory Management with Ballast
As a healthcare practice owner or manager, you know how important it is to manage your medical supplies, for the following reasons:
Under-purchasing of supplies can result in operational challenges and reduced quality of care.
Over-purchasing of supplies can result in cash shortages.
Without efficient management of supplies and inventory, your practice can end up with expired products or missing supplies, costing the practice money.
That’s where Ballast comes in. We help healthcare practices save money and improve efficiency by managing medical supply inventory efficiently and cost-effectively. Let’s take a closer look at how we do this.
Review Important SKUs
The first step to optimizing your inventory management is to review the most important SKUs (stock keeping units). This means looking closely at the SKUs that we spend the most money on as well as those that are highest-cost per unit. By reviewing these SKUs closely, it will be easier for us to identify areas of potential savings for your practice.
Organize Storage and Set Minimum/Maximum Quantities
Once we’ve identified the most important SKUs, we work with our clients to organize their storage areas and set minimum and maximum on-hand quantities of each item. Depending on the size of the practice, we may also assist in setting up more advanced systems such as barcode scanners that make it even easier to monitor inventories and keep track of stock levels automatically.
Build Reports on Purchases & Usage
In addition to managing inventories, we also build reports on purchases and usage so that our clients have access to all the information they need regarding their medical supply inventories. We use these reports to help practices easily determine which items are used most often, where there may be room for improvement in restocking cadence, or negotiate better prices with suppliers.
At Ballast, we understand how complicated managing medical supply inventory can be for healthcare practices—which is why we are here to help! Our goal is to use our expertise and knowledge to help you save money while improving efficiency at the same time through efficient inventory management techniques tailored specifically for your practice needs. Contact us today if you would like more information about how Ballast can optimize your medical supplies inventory!
