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Remote Inventory Management System RIMS Cost Control Solutions, LLC.

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Presentation on theme: "Remote Inventory Management System RIMS Cost Control Solutions, LLC."— Presentation transcript:

1 Remote Inventory Management System RIMS Cost Control Solutions, LLC

2 RIMS A Simple Question Are you interested in a cloud-based system that will … Eliminate the lost inventory value of products in remote locations, particularly those in your facilitys crash carts that expire and have no credit value and, Substantially reduces the labor hours required to manage products in remote locations while greatly improving patient safety and regulatory compliance and, Require no additional hardware or interfaces with your existing systems, just internet access? If your answer is yes, then we invite you to continue with our RIMS presentation.

3 RIMS Who We Are The management of Cost Control Solutions are professionals with over 50 years experience in the healthcare industry. We are not a consulting company, rather a company that provides systems and solutions to the healthcare industry with a focus on inventory management, cost control and the delivery of medicines to patient.

4 RIMS The RIMS Solution Pharmacy managers and directors have told us about the problem associated with managing pharmaceutical inventories in remote locations, particularly, emergency crash carts… And we have listened… RIMS is a cloud-based system designed to eliminate many of the demands and frustrations commonly associated with remote inventory management and replace them with a simple and cost effective solution.

5 RIMS Why You Should Consider RIMS Because RIMS is a cloud-based Remote Inventory Management System that requires no software installation or interfaces with your existing facility computer systems; only internet access. RIMS is a win-win for a health system by greatly reducing the lost inventory value of non-creditable product outdates while reducing the labor required for the management of products in remote locations with particular attention given to emergency crash carts.

6 RIMS How It Works By simply documenting * into RIMS the product descriptions, locations, quantities, lot numbers, expiration dates and product sequence within a location such as a crash cart drawer, the user can manage those products with the intent of a monetary savings while significantly reducing the potential for dispensing expired or recalled products. * CCS can provide an onsite service team to document the required product and location information to initiate RIMS. Input Data Output Data RIMS

7 RIMS Applications Crash Carts Emergency vehicles Transfer boxes Stroke kits Anesthesia cabinets and coolers Consignment and research products RIMS is very versatile and may be used throughout a facility and at offsite locations. Current uses for RIMS include, but are not limited to, the following: Pharmacy mixed or compounded products Pharmaceutical products assigned and located at physician offices and health clinics, such as flu vaccines Inventory Management of items in Drug Shortage Status

8 RIMS RIMS and Product Rotation Products in remote locations such as crash carts, transfer and stroke kits have by their definition, very little expectation of usage. Therefore, it is imperative that these products be rotated out of remote locations in a timely manner to areas of patient care where their usage, prior to expiry, will occur. RIMS manages this very important activity by utilizing an email advisement to pharmacy management of products requiring rotation, in other words,your crash carts speak to you through RIMS.

9 RIMS Clinical Benefits of RIMS The clinical benefits of RIMS are many. The ability to develop facility specific: item and location master, product templates and sequences by locations, and more importantly, the ability to access online, expiration dates and recalled products by quantity and location. RIMS goes the extra step in the management of remote products for the enhancement of patient safety. The RIMS database of FDA recalled pharmaceutical products will not allow your facility to enter a recalled lot number into RIMS location. Upon entry of a recalled lot number, RIMS will advise the user of the need to quarantine the lot number and return as instructed by the manufacturers recall advisement. RIMS provides healthcare facilities with the opportunity to improve clinical care. Improvements are provided by:

10 RIMS Financial Benefits of RIMS Inventory Value The elimination of the lost inventory value of expired drugs which can be a substantial amount. Products should be rotated from remote locations such as emergency carts to other locations in the facility to ensure usage prior to expiration. A reduction in the fees paid to a third party reverse distributor for the processing of a facilitys outdated pharmaceutical, in addition to, the fees paid for their destruction. Labor Savings The elimination of the manual audits performed monthly to identify soon to expire pharmaceutical products. And for product recalls, eliminating the need to inspect each location containing pharmaceutical products to determine if a particular recalled lot number(s) is present and needs to be removed and quarantined. By simply entering the recalled lot number in the Recall Function, RIMS will identify if the recalled lot number is present and the quantity and location. Along with the many clinical benefits to using RIMS, there are significant cost savings opportunities. They are as follows:

11 RIMS Regulatory Benefits The ability to track the reason why locks on emergency or crash carts were opened and products removed from the location. The scenarios RIMS tracks for a facility are because the product was, expired and replaced, dispensed to a patient, replaced prior to expiring for the purpose of use elsewhere within the facility, or recalled In addition, RIMS has the ability to track and manage pharmaceutical products by expiration date and lot number, necessary for recall management at off-site locations such as: Physician offices Health clinics Emergency vehicles Oncology infusion clinics The ability to manage the process of identifying soon to expire and recalled products is equally beneficial when considering the requirements of healthcare regulatory agencies. The regulatory benefits are as follows:

12 RIMS Reporting Features A report by user-specified date range for expiring products by item, quantity and location Reports that track specific user activities by specified location or cart By tracking the reason products are pulled from a location or cart allows facility management to better identify: Which products are actually dispensed from carts or other remote locations. Products removed as recalled or soon to be expired and produced in a report format that can be provided to various regulatory agencies. The inventory value of products rotated prior to expiry and used elsewhere in the facility. This is provided in the form of a Savings Report. The Remote Inventory Management System provides for a variety of management reports related to System Activity and Product Usage. Some examples are as follows:

13 RIMS ROI Calculating the lost inventory value of the products in remote locations such as crash carts, stroke and transfer kits that do not qualify for credit upon expiry. The inventory value of pharmaceutical products within crash carts alone will average $2,500 per cart. Current labor hours applied to managing products in remote locations. The labor hours should include all activities including the time to view and inspect each location, opening and transporting crash carts, replacing soon to expire products, documenting lock numbers and other related activities. Disposal cost for expired products. In conclusion, the most important Return on Investment is patient safety and regulatory compliance. The following slides are sample reports identifying soon to expire and recalled product. The savings from RIMS greatly exceeds the licensing fees, and if selected, the onsite initiation service. Determining the ROI for RIMS should include:

14 RIMS Expiring Carts Report

15 RIMS Recall Report

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