Admit it. You made a mistake. We all make mistakes, right?
Or maybe it wasn’t you who made the mistake, but someone who reports to you (which makes you responsible anyway).
Under forecasted expenses? Check.
Too much overtime for staff? Check.
Bought too much inventory and now you can’t use it? Check.
The checks could go on and on. There is, however, one check that your bottom line will be thanking you for. I’ll get to that in a second.
Here is just a little context:
- According to the Bureau of Labor statistics, the average Nurse salary is $42,660, and the average salary for a medical or clinical technologist is $62,000.1
- A July 2014 survey by Strata Decision Technology found 88% of hospitals had cost-saving strategies but that only 17% hit their targets.2
- The operating rooms account for around 40% of a hospital's costs and generates about 70% of the hospital's revenue.
Have you ever found $20 in your old coat or pants pocket unexpectedly? What a great feeling, right? Multiply that by 6,000. That’s right, 6,000! Remember that check that your bottom line will be thanking you for? Well, here it is. At a 200-bed facility Z5 could write your hospital a check for $120,000. Bigger hospital? Bigger check in most cases. What would you do with an extra, unforecasted $120,000? Hmm, let me think...
How about you buy that piece of capital equipment the OR has been asking for that will increase procedure speed, allowing you to do more procedures?
How about purchasing that expensive software that will allow you to manage schedules better and reduce overtime or that may help charge capture on what you bill already?
How about you hire 2 techs or 3 nurses?
The point is: you now have options. It’s time to think outside the box!
Z5 makes it easy. We will work with you to identify and buy your excess inventory or dead stock. Those are the items that are likely to expire soon because the hospital does not use them anymore. You own it. Now sell it, and Z5 will write you a check for it. Additionally, Z5 will provide its own logistics team to pick, pack, and ship the inventory so your staff does not have to. No labor expense to you, and we help free up precious storage space once that excess inventory is removed.
Don’t make another mistake and miss out on what Z5 Inventory can do for you or your department. Don’t be part of the 83% of hospitals who miss out on their savings targets. Your bottom line will thank you!
Click the button below to see how it all works.
About Z5 Inventory
Every organization in the healthcare industry struggles with inventory. So Z5 Inventory’s founders set out to solve the problem. Using our unique Count, Reallocate, Buy platform, Z5 Inventory can not only count your inventory, but turn the slow-moving and excess stock on your shelves into savings in your pocket.
Want to learn how much we can save you? Contact us.
Headline photo via Depositphotos.