Reduce Costs, Optimize Inventory and Improve Patient Care
SpaceTRAX is a real-time point-of-use inventory management solution that seamlessly links clinical supplies to physicians, patients and procedures
SpaceTRAX gives you a complete, real-time view of inventory levels, allowing you to optimize your purchasing based on actual use. Customers typically see a 5%-15% reduction in on-hand inventory within the first six months, while eliminating “just-in-case” purchases and zero-use items. With a true picture of your use, you also have the data to negotiate better prices with suppliers.
SpaceTRAX increases charge capture by making compliance easy for staff. Simply scan the barcode and SpaceTRAX does the rest, and with standard interfaces to the hospital’s EMR system, it can send item charge information directly to the billing system. The result is up to a 25% increase in charge capture.
SpaceTRAX automates the supply chain process, and puts an end to inefficient manual tracking and recording of inventory. Two simple workflows (ADD/USE) provide a wealth of information along with key performance indicators to help you optimize your inventory and realize cost savings and efficiencies.
SpaceTRAX keeps track of lot, batch, serial number and expiration for every item in a Unique Device Identification (UDI) compatible format. Automatic alerts flag you when items are approaching expiry, and if an expired or recalled item is scanned for use in a procedure. By ensuring you have the right products on-hand, it helps you eliminate delays in care delivery.
Real World Results
Savings that just keep growing
Reduced inventory loss in 25 IR departments from $4M to <$100,000 annually
Inventory reduction of 32% and expired product reduction of 60%
50% reduction in total inventory value
SpaceTRAX customers see returns within the first 6 months
Reduction of On-Hand Inventory
5%-15%
Reduction in Expired Item Cost
50%-100%
Reduction of Labor Cost to Track Inventory
10%-30%
Increase in Vendor Discounts
1%-3%
Web-based Simplicity and Power
No capital costs
The SpaceTRAX solution is an entirely web-based SaaS application that requires no capital investment and minimal IT involvement. Your hospital can be up and running with the system over a long weekend with our streamlined implementation process.
Robust, and accurate, database
The SpaceTRAX global items database is a key differentiator with more than 150,000 items continually updated in a consistent nomenclature by a team of clinical database experts working in close cooperation with manufacturers.
Easy for caregivers
SpaceTRAX makes life easy for clinical users at the point of use and for staff managing departmental inventory, automatically capturing key information for case management, including inventory, patient, staff and clinical attributes.
Powerful insight
SpaceTRAX’s visual dashboards provide real-time information to make informed decisions around process improvement and patient safety. Standard reports include insights on inventory usage, average case cost and procedural reports, inventory valuation, items and issues. In addition, an analytics API provides your organization enterprise business intelligence related to supply chain management and point of use.
Integration ready
SpaceTRAX offers standard interfaces for billing, patient information, item master, purchasing requisition and consumption. You can ensure accurate billing, receive patient information automatically from the ADT, synchronize inventory, automate item requisition and more.
Secure
SpaceTRAX system managers have complete control over user permission levels and access, including to sensitive Electronic Protected Personal Information (ePHI) and pricing data.
“We are able to consistently report less than 1% variances in cath lab and open-heart inventory.”
SpaceTRAX Software Platform
Optimize inventory levels using barcode technology
