Robert Wood Johnson University Hospital in New Brunswick, N.J., has selected a vendor to help identify and reduce excess clinical supply inventory and improve its overall OR inventory investment.
RWJUH-NB, a 600-bed academic medical center and the principal teaching hospital of the University of Medicine and Dentistry of New Jersey's Robert Wood Johnson Medical School, has signed an agreement with Fairfield, Conn.-based Management Health Solutions, Inc., which specializes in helping hospitals cut clinical supply expenses.
RWJUH-NB has already made drastic cuts to its clinical supply expenses by establishing a baseline and managing critical clinical supply item data, said Mark Pelletier, director of content operation at Management Health Solutions.
"By allowing MHS to come in and clean its clinical content, Robert Wood Johnson University Hospital-New Brunswick will be able to better manage their clinical inventory and increase profits," said Pelletier. "We are excited to be working with such a prestigious hospital as RWJUH-NB."
Pelletier said even the best hospitals don't have accurate information about the clinical supplies they buy, use and store in operating and emergency rooms, cath labs and other special procedure departments. He said hospital materials management systems rarely have complete and accurate data, and this has a huge financial impact. For instance, some industry experts estimate that 50 percent of expenditures in healthcare are related to clinical supplies.
Pelletier said the average 350-bed hospital can have millions of dollars worth of clinical supplies just in its operating rooms.
RWJUH-NB is the hub of an integrated medical campus that includes the NCI-designated Cancer Institute of New Jersey, the Child Health Institute of New Jersey and The Bristol-Myers Squibb Children's Hospital. More than 1,300 physicians and surgeons are affiliated with the hospital.