Why should practices keep track of inventory?
Poor inventory management leads to financial loss that most Practices do not quantify.
Here are just a few ways your Practice is losing money each month without having quality inventory management in place:
- Not having product on the shelf when a client is ready to purchase
- Having too much product that doesn’t sell
- Having to throw away expired items
- Running out of supplies, PPE, etc and having to pay a premium price at a local retail store for last minute replenishes
- Wasted employee time spent on manual, physical inventory counts
- Slower workflow due to manual entry of inventory used
- Data entry errors
- Buying stock when other locations have excess
- Lost tax write-offs due to incorrect inventory valuations
- Inability to track patients who received recalled product batches
Because FlexScanMD enables their clients the highest level of inventory control, they save more money than it costs them for service.