Five Components to Help HME Providers Manage Inventory

Companies must satisfy their customers on a continual basis to attain longevity. In a similar fashion, HME providers have to be aware of how quickly inventory moves through their delivery system in order to manage their inventory levels and supply their customers.  At the end of the day, it’s not coffee beans or blue jeans that HME providers are tasked to provide, but rather life-saving medical equipment. If inventory levels are not properly managed, providers lose revenue while patients are left without immediate care and services.

Increase your revenue as you deliver medical equipment to patients in need. With TIMS Inventory Management, five integral components can help manage your inventory.      

1. Preferred Items

Have the ability to mark items as "preferred" in the TIMS Inventory Items application. These items are sorted to the top of the item lookups. Give your inventory staff the option to “suggest” the item they would like CSRs to choose when putting items on the order.   

2. Equivalent Items

Have an item that is out of order? Perhaps you no longer use a particular product to serve your patients. With Equivalent Items, receive information on similar items that will work in place of the one that is not available.

3. Multi-Branch/Location

Centralize and decentralize inventory. Transfer items between branches and locations as well. Have the ability to differentiate between branches and locations in order to develop the growth of your business.    

4. Par Level

Preset parameters warn providers with a notification when inventory reaches a certain quantity. Without a helpful reminder of inventory levels, you’d have extra product on hand, or a lot of back orders. With Par Level, you won't have to go back to the warehouse and do physical inventory counts on a daily basis either.

5. Safety Stock

If par levels are reached, set up a safety stock to prevent back orders. Provide the best customer service so that inventory isn't depleted and you'll have enough items to supply.  

Deliver your patients quality care as you easily manage inventory levels. Possess a flexible inventory as operations become organized and streamlined with TIMS Inventory Management.  

Last updated March 25, 2021.