VueTrack & the Blind Spot 10-2011 Final Abridged

8/3/2019 VueTrack & the Blind Spot 10-2011 Final Abridged

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1VUEMED, Inc. October 2011. All rights reserved. 2008-2011

Presents


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The Reality On The Ground

At most hospitals the cost of supplies represents the

2nd largest budget item after labor costs. . .

thereby presenting an immediate opportunity for realizing

rapid, substantial, and lasting savings


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Share of products currentlytracked by most hospitals

Share of products NOTtracked or accounted for by

most hospitals

THE BLIND SPOT

The Blind Spot In Hospitals

Most Hospitals Only Track Perpetual Commodity

Supplies and Document Select Implants


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Overlooked Issues & Their Consequences

Failed Inventory Management

No reliable, real-time, on-hand

inventory data

No expiration tracking

No accurate usage data

Poor recall tracking

No accurate records

Poor par-levels management

Wrong product mix andmisaligned stocking levels

Costly waste

Incorrect orders placed

Safety risk to patients

Errors in patient charts andbilling (risk of fraud)

Excessive inventory and noindividual item tracking

Major Consequences

Hospitals typical approaches to managing their inventoryare inadequate and lead to multiple problems


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Potential SavingsFailures Rooted In Many Issues

MMIS

Clinical

Documentation

System

Materials Management Clinical Departments

Technology

Issues

Process

Problems

Place Order

Create PO

Record PO(e- or manually)

Record

Usage

BillingProduct

OrderEMR

= Problem area or step

Incomplete product usage recorded

Wrong item, wrong quantity recorded

Wrong products/quantities reordered

No expiration control Product availability problems

Inaccurate charge capture (lost revenue)

Over-billing (fraud to payers)

Inaccurate patient medical records

Chaotic product recall management

AssessReorder

Needs

Common

Errors

Incorrect orders due to wrong usage data

Incomplete, inaccurate POs received

No recording of each item delivered

Wrong or lack of available inventory data

No tracking of lot # and expiration date

No dynamic par levels for each item

Inadequate or lack of PPI tracking

No idea of products locations

Hospitals existing systems fail to do proper inventorymanagement but give the false impression that they do


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Potential SavingsThe Invisible Gap


Neither MMIS nor clinical documentation systems are designed totrack and report on each product throughout the hospital cycle

Products Are

Received

THE BLIND SPOT

No Technology, Broken Processes,No Accountability, No Continuity

Products Are

Used

MMISClinical

Documentation

System

Create PO

Receive POBilling

Product

Order

EMR

Invisible Gap


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Potential SavingsProblems Caused By The Blind Spot

MMISClinical

Documentation

System


Create PO

The Blind Spot is a debilitating, costly, systemic, under-the-radarproblem due to the lack of adequate inventory management

Receive POBilling

Product

Order

EMR

THE BLIND SPOT

THE OPPORTUNITY

Inability to track each individual stock item or

physician preference item (PPI) from the

moment it enters the hospital until it is used in

a patient or removed from inventory.

Inability to track items precisely with lot/serial

number and expiration date, and to find their

exact location within the hospital.

Products AreReceived Products AreUsed


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VueTrack


VueTrack provides hospitals with the ability to track, document andcontrol each product effectively from receipt to use

Products Are

Received Efficient, easy-to-usetracking and documentation technology

Products Are

Used

Clinical

Documentation

System

Create PO

Receive POBilling

Product

Order

EMROrdering

System VUEUEUEUETTTTRARARARACKVUEUEUEUETTTTRARARARACK

VUEUEUEUETTTTRARARARACKVUEUEUEUETTTTRARARARACK

Solving The Problem Of The Blind Spot


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Software as a Service

Improved hospital processes begin with accurate,complete, and efficient data capture

VueTrack Provides Dependable Data Capture

AccurateBilling

In

crea

sedRe

venu

eReducedCosts

LeanInventory

Patient Safety

Reliab

lePatientR

ecords

FraudP

reventio

n

SatisfiedPhysicians

Par Level Based Purchases

Accurate,Complete &

EfficientData Capture

ExactP

roduct

Usage


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Prevent waste of expensive, perishable products

Ensure accurate and reliable documentation Increase revenue capture and maximize insurance reimbursement

Improve patient care through expiration and recall management

OR

Cath Labs

IR Labs

EP Labs

GI Labs

The Opportunity For Hospitals

VueTrack offers hospitals the opportunity to improvesignificantly their clinical and supply chain performance


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What Is VueTrack?

VueTrack is a powerful software & Web-based technology that is offered as asubscription (i.e. no capital expense)

It works on any existing PC just add a barcode scanner

VueTrack is an innovative inventory tracking and documentationtechnology that is easy to use, implement,

and expand throughout the hospital

any PC

By providing meaningful inventory tracking and documentation,

VueTrack solves the problems of the Blind Spot.


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VueTrack now offers hospitals a choice of three applicationsto help them gain control of their clinical inventory

and transform their documentation capabilities

Mobile App

VueTrack Applications

Desktop App iPad App


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Software as a Service

Advanced barcode scanning technology

Reads any manufacturer-printed barcode off product package

Cost-effective, dependable barcoding technology

Centrally managed database of all products and barcodes

Vast and continuously updated database of products

No burden on users - just scan products in and out

Real-time access to inventory data from anywhere

Secure Web-based reports at your fingertips

Tactical and strategic relevance of data

VueTracks Technology At A Glance

VueTrack transforms hospital processes without burdening users


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Any clinical or materials

manager, or hospital

administrator

Clinical departments

Hosted servers forstoring and providing

access to data

Access Web-basedreports @

www.vuemed.com

Software forcapturing inventory

transactions

VueTracks Equation For Success

Superior data capture software + Efficient Web-based data reporting= Successful inventory tracking and documentation


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VueTracks Advantages

VueTracks innovative technology provides itscustomers with a superior value proposition

Software & Web-based design

Real-time tracking & reporting

Accurate data capture

Simple to use

Quick & easy to install

Lowest cost / Highest ROI

No expensive hardware to buy

Meaningful, actionable information

Reliable documentation, accounting

Quick learning, high compliance

Painless implementation, scalable

Pays for itself several times over


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Typical Sources of Savings

Potential Savings

Typical Magnitude of Savings

VueTrack is able to generate the highest ROI on the marketthrough savings, expense reductions & revenue generation

Elimination of expirations:Ongoing waste reduction

Reduction in inventory size:One-time and continuous lean levels

Reduction in product purchases:Buy less and borrow instead of buy

Increase in billed revenue:Capture missed revenue, avoid fraud

8% to 12% of total inventory value

5% to 15% of total inventory value

10% of total new orders value

VueTracks ROI > 500% Annually

10% of total billed revenue

Savings, expense reductions and additional revenuecreated by VueTrack generate ROI greater than 500% annually.


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ROI and Benefits

Customer testimonials illustrate theexceptional value provided by VueTrack to hospitals

Potential SavingsWhat VueTracks Customers Have To Say

VueTrack is really intuitive and easy

to useWe finally feel that we have

control of our inventory in the IR and

cath labs.

Operations Manager

Before VueTrack, we were just eyeballing

our inventoryWe were running out of

stock or ending up with a lot of expired

products Now, no running out of stock!Inventory Manager

For a really small investment and a few

days of implementation, our cath lab is no

longer wasting any of its products and

purchases only what it needs instead of

overstocking. My department has cut

costs significantly with VueTrack.

Director of RadiologyThe ease of use and just being able tokeep track of our inventory

electronically after years of not having

a true inventory management system -

this is a true help. Being able to get the

true dollar amount in a report at the

push of a button is wonderful.

Cath Lab Director


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Can you say No to

Real-time data at your fingertips?

Huge cost savings?

Significant additional revenue?

...Superior clinical performance?

...Improved patient safety?

Contact VUEMED today for afree consultation and assessment

[email protected]

www.vuemed.com

Can you say No to

Real-time data at your fingertips?

Huge cost savings?

Significant additional revenue?

...Superior clinical performance?

...Improved patient safety?

Contact VUEMED today for afree consultation and assessment

[email protected]

www.vuemed.com

Why Wait?

VueTrack & the Blind Spot 10-2011 Final Abridged

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