In an ambitious bid to proactively automate the current implant “bill only” intensive and duplicative manual processes lacking proactive visibility and compliance with hospital rules, policies, and vendor agreements, Surgery Exchange was founded to assist supply chain, clinicians, and hospital be more efficient. In doing so, the company ensures a smooth process that provides visibility and real-time, accurate, case- level data throughout for all implant service lines, system-wide. Surgery Exchange’s technology enables healthcare providers to oversee and control these procedures by increasing visibility into the supply chain. This first of its kind comprehensive end- to-end provider solution brings together the various stakeholders including hospital clinicians, staff, management, manufacturers, and sales representatives into a collaborative environment to ensure that all participants are fully coordinated. Disparate IT systems including financial ERP, electronic health records, and other resources necessary to the case also form a part of this sequence to proactively drive the entire process in accordance with hospital rules, policies, and agreements.
Given the unique aspects of managing implant and related inventory and instrumentation, traditional inventory management systems fall short in providing the IT infrastructure to support healthcare providers manage a complex environment and requirements.
Surgery Exchange LogisticsTM focuses on helping Providers control and manage hospital owned, and vendor consigned implants and related instrumentation, asset tracking, inventory visibility, operations, and order initiation aimed at Empowering the ProviderTM to take back control of their implant “bill only” business.
According to Bob Umdenstock, the VP of Business Development, Surgery Exchange, the current cost of implantable devices and related biologics account for over 40 percent of the providers’ med surge spend, it is rife with waste, inefficiencies and overall lack of visibility. He goes on to mention that the current device, implant acquisition bypasses the providers’ usual purchasing process (MMIS) and the transactions (bill only, consignment, trunk stock) take place after the fact. “The lack of proactive visibility in the supply chain contributes to inadequate control and volume aggregation of some of the most expensive medical supply items. Besides leaving a negative impact on the health systems bottom line, this gap reduces contract compliance, dilutes cost savings initiatives, increases the potential for price variation, and affects inventory write-offs,” Umdenstock underscores.
Surgery Exchange was established to tackle these challenges with implant device management by aligning providers and manufacturers with its end-to-end solution that lowers the supply chain cost through collaboration between the various players. The company’s innovative software solutions automate the implant sourcing, captures and normalize real-time data for the best in class analytics. “The Surgery Exchange technology provides the necessary inventory visibility throughout the entire health system reducing costs, driving efficiencies, managing risks, and supporting business goals that are mission- critical to a clinically integrated supply chain,” notes Umdenstock.
The Surgery Exchange technology provides the necessary inventory visibility throughout the entire health system reducing costs, driving efficiencies, managing risks, and ultimately supporting business goals that are mission-critical to a clinically integrated supply chain
At its core, Surgery Exchange focuses on engaging the cooperation of the physician through visibility and better data for supporting standardization, variation, and an aligned clinical supply chain that can ultimately influence better outcomes. In this regard, it delivers automated order efficiencies, case demand, inventory visibility, efficiency, right size inventory, and reduction in waste, lost, and expired products for its clients.
By electronically capturing the consigned and owned implant inventory coupled with its case demand and product consumption statistics, Surgery Exchange allows health systems to resolve discrepancies, align contract pricing, and maximize inventory levels while gaining access to real-time critical data throughout. The company empowers its clients to remain fiscally sound and help capture and control their PPI implant spend, aiding them to both save dollars and better understand how product choice affects their clinical outcomes.
Surgery Exchange’s strategic vision and a key objective encompasses aligning the implant manufacturers in the provider supply chain through advanced case scheduling and case demand planning for driving clinical supply chain success for its clients.