With declining reimbursements, rising product costs and an increased focus on the patient experience, the time for action is now. Each year, there is up to 30 percent waste in Physician Preference Items (PPI) in the supply chain, amounting to an estimated $5 billion in annual losses. A lack of action is no longer an option; the traditional supply-chain model is a thing of the past. Imagine a world with no more expired products, a large reduction in expedited product shipments and real-time visibility into inventory. This is no longer a dream. It is a reality fueled by the growth of RFID technology, logistics and inventory-management solutions capable of offering dramatically increased efficiency and cost savings, which cascade across entire health-care systems. RFID technology can link producers, purchasers and distributors that reduce waste, allow visibility of inventory in real time, enhance charge capture, and improve patient safety and clinical satisfaction—while creating a fully functional end-to-end supply chain.
