5 Tips for Efficient HME Inventory Management

When trying to manage your Home Medical Equipment (HME) inventory, it can be difficult to keep an effective management system in place and be sure that all of your inventory is properly accounted for. Knowing this, we gathered 5 of our favorite tips to make sure you can have a solid management protocol and can optimize your efficiency.

1. Implement Real-Time Inventory Tracking Systems

According to the State of Small Business Report, 46% of small or medium sized businesses either don’t track their inventory, or track their inventory manually. This can leave room for a lot of human error as it is also recorded that most companies only have 65% inventory accuracy, according to a report from the University of Arkansas' RFID Lab. If you change over to an automated inventory tracking system, there is a better likelihood of accurate tracking, and without needing to enter the information manually, a higher rate of return for your time.

2. Leverage Automated Reordering and Resupply Features

Automated reordering and resupply features are game changers for companies that have many needs for recurring supply needs. Supplies like diapers and pads, first aid, oxygen, and disposable parts for CPAP machines like filters and tubing would be much easier to resupply if it were on an automated reordering system. Medical billing cycle management can make the frequent reordering of supplies under consistent need considerably more streamlined.

3. Compliance and Regulatory Considerations:

HME and DME will always need to be regulated by the FDA and are subject to specific medical practice guidelines. The last thing you would want to happen is your company being flagged. For this, we recommend keeping all employees up to date with all HME related federal regulations. Doing a yearly refresh on these rules is a strong practice, ensuring nothing changs without your notice.

4. Staff Training & Adoption:

Leaning into keeping your employees up to date on regulations, it is also best to keep staff well-trained and informed of best practices. Don’t make the mistake of getting new software, expecting much more efficient systems, but not training your staff properly on the usage of it. Make sure to inform yourself well on how it works, so that you can properly train and answer any of the staff questions to ensure a seamless transition into a new system.
 

5. Emergency Preparedness & Inventory Management:

In healthcare, emergencies like supply chain disruptions, tariffs, and lack of available equipment can drastically change how your inventory can get distributed. Having any of your equipment get stalled when trying to reach others can be detrimental. You will want to have a written strategic plan and plenty of backup equipment if possible to ensure your equipment is distributed to those who need it on time.

 

 

Following these tips can be a great starting point to optimize your inventory management. A truly efficient system takes time to reorganize and trial and error is expected to make sure you are optimizing it the best way you can. With that, we hope you learned a few tips that will help you strategize your systems a little better and we encourage you to check the sidebar for our previous blog on understanding CPAP options.