![]() ![]() Department of Commerce estimates that the US medical device market has grown to $423.8 billion. Be it a small rural clinic or a nine-hundred-bed hospital, medical devices are a major part of the healthcare industry. All of which are essential to providing uncompromised patient care for healthcare organizations across the U.S. The term “medical devices” covers a wide variety of items, from a simple pair of sutures or a wheelchair to pacemakers and vascular grafts. ![]() The Current Inventory Landscape Is Not Sustainable All resulting in a much better outcome for suppliers and providers. ![]() Connecting assets using IoT technology enables medical device manufacturers and hospitals alike real-time information throughout the supply chain, thus better meeting customer demands, improving patient safety, meeting regulatory compliance standards, and accurately monitoring temperature and expiration dates. While many solutions exist for managing critical supplies, a fully connected, smart inventory management system presents the most proactive solution for automating inventory management. Mounting regulatory standards, demand, costs, and inefficiencies are all driving the industry toward a much-needed change for inventory management, specifically field inventory. With over 6,500 medical device companies and a growing amount of inventory being transported in the field on a daily basis, gaining real-time visibility of inventory is necessary. By Joe Pleshek, President and CEO of Terso SolutionsĪs of 2018, the medical device market has grown to a $423.8 billion dollar industry and is expected to grow to $521.64 billion by 2022. ![]()
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