For home healthcare and hospice care providers looking to maximize their return on investment, DME tracking software is a powerful tool. This article explores the benefits of a DME management software, the tools for DME tracking, how to implement a DME tracking system, and how to measure the ROI of the system. With these insights into DME tracking capabilities, healthcare organizations will save time and money while improving accuracy and data integrity.
Understanding DME tracking and ROI
Durable Medical Equipment (DME) is a term used to describe items that healthcare providers prescribe and use in the treatment of an illness or injury. These can be one-time purchases or rentals. For example, many hospice and palliative care patients require home medical equipment rentals like wheelchairs and beds to navigate their daily lives.
The challenge with home healthcare and hospice care providers tracking equipment. This makes DME tracking software increasingly popular.
Tracking DME in a healthcare system is important for multiple reasons:
- It ensures that medical equipment remains in good condition and is easily located when needed.
- Proper tracking allows healthcare organizations to maintain accurate records and ensure compliance with regulations and policies related to OSHA, The Joint Commission and more.
- DME tracking also helps healthcare systems quickly track and measure performance with automated dashboards to gain valuable insights that help make data-driven decisions.
DME tracking differs from other asset management techniques because it focuses on individual items rather than the entire fleet. This means that not only will you get detailed information about each piece of equipment such as its location and status, but also more complex information like usage patterns, meter readings, and service history. With this level of detail, you will identify trends over time or spot potential problems before they become major issues.
Implementing a successful DME tracking system for your healthcare organization brings many benefits including streamlined delivery/pickup operations, reduced costs, better patient experience because of reduced admin work, increased efficiency related to inventory management, and improved regulatory compliance due to better audit records and reporting capabilities. All these advantages translate into increased ROI for your organization.
Despite the many benefits associated with DME tracking software, there are some challenges that need to be taken into consideration when implementing a system such as the following.
- Training staff members on how to use the software correctly
- Ensuring data accuracy
- Establishing protocols for collecting data
- Understanding privacy laws
- Setting up secure networks
- Managing upgrades
- Determining who will have access to sensitive data
- Budgeting for ongoing maintenance fees
- Addressing implementation delays caused by lack of resources or personnel
- Dealing with technical glitches or outages if they occur during peak hours of operation
These challenges should not deter organizations from taking advantage of what DME tracking has to offer since the rewards far outweigh any obstacles encountered during implementation.
Benefits of DME management software
DME tracking software provides healthcare providers with many advantages, from cost savings to improved patient care. Automating administrative tasks reduces manual data entry and frees up more time to spend on patient care, while increasing accuracy because of the elimination of human error.
Digitizing documents simplifies communication between departments and personnel. Having a system in place will reduce expenses associated with HME/DME due to better inventory control. It also allows healthcare providers to update patient intake forms quickly, retrieve patient histories and other important information for an improved nurse/patient experience.
This type of software also enables increased compliance with federal guidelines related to durable medical equipment (DME). By utilizing this system for tracking, home healthcare providers prevent costly fines or penalties that could arise from non-compliance with these regulations.
Additionally, a DME tracking software helps enhance billing processes by accurately capturing all necessary data about each transaction in real time. Unlike other billing software’s, Wynne’s is fully equipped to handle one-time and recurring purchases to streamline your cycle billing operations. This ensures fast payments for the organization, resulting in higher ROI on investments made in the software.
Tools for DME Tracking
For tracking HME/DME supplies, healthcare providers have two options – cloud-based and on-premises. Cloud-based solutions are more convenient for healthcare providers, as they are hosted in the cloud, while on-premises solutions offer complete control over data management and storage. Both come with a range of features that provide benefits to healthcare systems such as customizable reporting tools, QR and barcode scanning capabilities, and automated alerts and notifications. Some systems may include analytics tools for inventory visibility and forecasting.
Many software solutions exist, but for home healthcare and hospice care providers the key is to find one that has industry specific solutions and an in-depth understanding of your needs to manage the level at which your business operates. For example, enterprise brands operating at a large scale typically require a more customized solution that integrates with their existing tech stack.
Ultimately, investing in an automated system for managing DME supplies will not only lead to greater cost savings but enhance the nurse/patient experience through improved processes and workflows.
Measuring Your Return on Investment
Measuring the return on investment (ROI) of your healthcare system’s DME tracking software is essential to proving its impact on operational and business performance. If you successfully managed to get executive and leadership buy-in to implement the tool, you’re going to want to show off the wins generated by it.
To effectively measure ROI, healthcare systems should consider both the cost savings achieved through implementation and the time saved in completing tasks largely because of the massive reduction of administrative work.
The cost savings for a healthcare system’s DME tracking system include reduced expenses related to manual labor, faster payments, and improved accuracy. By automating certain processes, such as barcode scanning and inventory management, a quality DME tracking system will free employees to take on more meaningful tasks. With real-time updates on stock levels and patient data accuracy, healthcare systems will reduce errors and save valuable resources.
The time saved in completing tasks is another factor to consider when measuring ROI for a DME tracking system. Automation tools reduce paperwork and administrative overhead by streamlining processes such as ordering supplies or managing patient documents. This allows employees to focus their attention on more important tasks such as providing patient care.
To compare before-and-after performance and calculate overall savings from implementing a DME tracking system, healthcare systems should look at metrics, such as revenue generated per employee hour or net profit margins for each product category.
With an effective automated solution in place, home healthcare and hospice providers will maximize their return on investment while improving patient care and reducing costs associated with manual labor.
Want to Learn More About HME/DME TRACKING?
Choosing the right HME/DME software for your healthcare organization is a daunting task. With so many options available, it takes hours of research and planning to determine which one is best for your organization.
Not all software systems offer the same support to meet the needs of national and enterprise-level providers.
For over 30 years, Wynne Systems has been providing solutions that help enterprise brands identify needs and pain points, as well as develop solutions to revolutionize their healthcare operations.
Let us help you make the right choice for your HME/DME software. Get in touch with one of our experts today to learn more.
