How Hospital Asset Management Software Solutions Improve Healthcare Operations

Posted by sarahsmith41094 on November 25th, 2020

Hospitals contain a great deal of assets. Their purpose is to facilitate smooth and efficient healthcare operations. Given this fact, it is quintessential to look after them regularly and effectively. Hospital assets must be thoroughly monitored and managed throughout their lifecycle. That ranges from the time they are acquired until the time they are disposed of. However, there are many challenges that obstruct this goal. 

In order to maximize the prospects of healthcare assets, a good asset management system must be put into effect. A paradigm asset management solution must be easy-to-use, reliable, fast, accurate and informative. All of those criteria are met by technology’s newest innovation - the hospital asset management software. In this article, we will take a look at how it improves healthcare operations.

What is hospital asset management?

Medical tools and facilities of value play a major role in determining the profit margins of a hospital. If they are poorly maintained, they will have a negative impact on the hospital’s revenue. That is why it is crucial to track and manage assets. The process of managing the entire lifecycle of assets is known as hospital asset management.

Healthcare assets may exist in two forms - physical and non-physical. Some examples are:

  • Medical equipment

  • Wardroom facilities

  • Parking facilities

  • Furniture

  • Patient records

  • Information Technology

  • Perishable and consumable resources

  • Employees

Having to manage such assets across multiple locations can pose a bigger challenge to operational efficiency. On the flip side, the obstacles can be overcome by employing a robust hospital asset tracking solution.

Benefits of effective hospital asset management

Your hospital will be able to effectively benefit off of a great asset management strategy. By implementing a result-driven solution, your hospital can:

  • Function faster

  • Be accurate

  • Cut down on expenditure

  • Enhance savings

  • Be fully compliant

  • Mitigate risks

  • Efficiently track inventory

  • Forecast budgets

  • Rely on asset performance at any time

  • Provide excellent patient care

The number of benefits you reap from an asset management solution depends on the tool you use. Let’s take a look at the two major types - Manual asset management tools and healthcare asset management software.

Manual hospital asset management tools

Until the emergence of automated software solutions, the go-to strategy for asset management was either spreadsheets or paper-based tools. They are known to be the most cost-effective asset tracking solutions.

On the contrary, they lack several cutting-edge features that a dedicated management system provides. Furthermore, they are operated manually, making it a cumbersome tool to use especially in time-pressed situations. 

Manual hospital asset management tools are also error prone. They are prone to making inaccurate asset entries by means of typos and oversights. All of these limitations of manual asset management tools hamper the productivity and operations of healthcare establishments. Whereas hospital asset management software solutions eliminates such drawbacks and offers a great number of functionalities. 

Healthcare asset management software

Healthcare asset management software is a digital solution that enables hospital owners and managers to effortlessly track and manage assets. It contains several modern features that help ensure assets work and are available when required. Right from inventory management to generating reports, the software can accurately handle the most crucial asset management tasks from a single, centralized location. Let’s take a look at how the software helps improve healthcare operations.

  • Effective inventory tracking - Asset management software solutions are compatible with RFID and NFC technologies. With this feature, you can stick RFID and NFC tags to your assets and instantly track them using an appropriate scanner. 

  • Comprehensive asset information - Whenever the software records data, it is automatically and immediately categorized and stored into various categories. You can quickly look up an asset’s details by entering the item’s ID, category name, etc.

  • Seamless asset maintenance - Using the software, you can easily set up maintenance schedules for assets. Furthermore, you can view the history of an asset’s maintenance.

  • Accurate asset audits - You can quickly cross verify the assets in your database with the assets in your inventory using the software. This helps eliminate ghost assets and precisely calculate your hospital’s net worth.

  • Push notifications - The software allows you to set up and configure audio and visual notifications. You can choose to receive it via SMS, in-app notifications or both.

  • Reports - You can get comprehensive insights into how your assets are performing by setting up periodic reports. The software automatically collects, analyzes and produces easy-to-understand analytics.

Advantages of using healthcare asset tracking solutions

The functionalities of hospital asset management software solutions far outweigh the functionalities of manual asset management solutions. Software systems offer a myriad of advantages such as:

  • Real-time updates about assets and their details

  • Unmissable notifications

  • Optimization of assets

  • Elimination of ghost assets

  • Enhanced asset lifecycle

  • Accurate budget plans


Managing all the various types of assets in a hospital is not easy. Bottlenecks in the asset management process will not only slow down operations, but will also incur a lot of expenses. On the bright side, asset management software solutions help hospitals seamlessly track and manage assets with a few clicks of a button. Improve your healthcare operations by getting SmartAMS. It is the most feature-rich, secure and reliable healthcare asset management software from SmartPoint. Contact them today.


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Joined: November 25th, 2020
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