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
  • Theft

Because FlexScanMD enables their clients the highest level of inventory control, they save more money than it costs them for service.