Top 10 Predicted First Time Solution Investments by U.S. Hospitals in 2018: RTLS and Asset Tracking/Management
We're predicting the technologies that U.S. hospitals will have largest increases in first time investment in 2018. This time around we'll take a look at the 4th and 3rd ranked technologies poised for first time investment.
The predictions are based on installation data for 51 technologies from HIMSS Analytics LOGIC and LOGIC Predict, the predictive analytics engine within the platform. The base was the current footprint of 5,495 U.S. hospitals, 100% of the hospitals in the U.S.
At number 4 we see Real Time Location Solution (RTLS) and Asset Tracking/Management at number 3.
#4 – Real Time Location Solution (RTLS)
The solution with the 4th most first time solution investments by hospitals in 2018 is Real Time Location Solution (RTLS). Based on our predictions, we expect to see 162 U.S. hospitals buy this technology for the first time in 2018, resulting in just shy of 3% increase in adoption.
In LOGIC, Real Time Location Solution is defined as follows: “Real time location systems provide information regarding the location, status and movement of equipment and people. With RTLS, hospitals have access not only to the specific locations of equipment and people – but also advanced RTLS search capabilities allowing searching by specific location (floor, area, room) or unique asset identifier (department owner, type, manufacturer, model number, asset control number or EIN). The detailed asset information and reporting capabilities of RTLS allow further analysis to support a variety of uses, including equipment utilization data to identify inefficiencies that have required excess equipment inventory purchases, specific asset searches by manufacturer or model number for retrieval of equipment subject.”
Other notable information relevant to RTLS
An interesting point was made by at the Healthcare Symposium at HIMSS13 that still rings true today. John Wass, CEO of Littleton, Mass.-based Wavemark, Inc., comparing emergency departments to a "war-like environment" where it is not uncommon for there to be some level of chaos and stress, noted that "real-time information is absolutely critical." Further discussing the place of RTLS in this environment, Wass talked about the fact that "one way of getting that information is via RFID – active or passive tags that can show whether a needed piece of equipment is there or not – and if it is nearby, where exactly it is. They can track critical medication, and tell whether it's safe to administer or expired."
In addition Wass continued, that wireless tech allows caregivers to "to focus on the patient." and not have to put as much attention on administrative tasks that take a lot of time. (source)
#3 – Asset Tracking/Management
The solution with the 3rd most first time solution investments by hospitals in 2018 is Asset Tracking/Management. Based on our predictions, we expect to see 166 U.S. hospitals buy this technology for the first time in 2018, resulting in just over an 3% increase in adoption.
In LOGIC, Asset Tracking/Management “Software designed to manage the capabilities of data capture, integration, visualization and analytics tied together for the explicit purpose of improving the reliability and availability of physical and technical assets.”
Other notable information relevant to Asset Tracking/Management
In a paper entitled Development of the Inventory Management and Tracking System (IMATS) to Track the Availability of Public Health Department Medical Countermeasures During Public Health Emergencies from the CDC (source) which talks about creating an asset tracking/management system for the purposes of public health and safety:
“During a public health emergency, effective dissemination of medical countermeasures is crucial for a fast, efficient response. Supporting such efforts requires advanced planning, preparation and stockpiling, as was evident during the 2009 H1N1 influenza pandemic. During this emergency, CDC and state and local public health departments found that they needed a way to better understand their medical countermeasure inventory quantities. Improved inventory awareness was needed all the way down to the local point-of-dispensing level. Decision makers felt they needed better countermeasure inventory information to help ensure they made the best choices on allocating and distributing antiviral drugs and personal protective equipment. During the H1N1 response, it was clear that state and local public health departments needed a comprehensive management system so they could accurately track and report their countermeasure inventory levels. As a result, the CDC Division of Strategic National Stockpile (DSNS) partnered with the CDC Office of Public Health Scientific Service’s (OPHSS) Countermeasure Tracking Systems (CTS) program to plan and build the Inventory Management and Tracking System (IMATS).”