WaveMark Solutions Streamline Healthcare Supply Chain And Improve Patient Safety

WaveMark, Inc., provider of real-time inventory management solutions for high value specialty products within the healthcare supply chain, today announced its supplier solutions, complementing its hospital offering, in an effort to streamline the complex healthcare supply chain. WaveMark provides inventory management solutions that enable both medical device suppliers and hospitals greater visibility and control over inventory and product use.

WaveMark's proven expertise in RFID allows suppliers to focus on eliminating inefficiencies in the healthcare supply chain and hospitals to focus on reducing inventory levels, ensuring a better product mix to support physician preferences. This unique approach ultimately provides both hospitals and suppliers with stronger visibility into inventory and usage that not only results in better management of on-hand inventory and expirations, but significantly increases patient safety and reduces the costs of healthcare to the public.

"Use of our inventory management solutions by hospitals and medical device suppliers provides strong benefits to both parties as they look to streamline the supply chain," said John Wass, CEO, WaveMark. "WaveMark solutions provide real-time information to better manage and control the inventory of high value, physician preference products, which in turn eliminates waste and improves patient safety."

WaveMark Real-Time™ and WaveMark Mobile™ Provide Visibility and Information for Suppliers Building on its successful clinical inventory management system, WaveMark developed RFIDenabled inventory solutions, WaveMark Real-Time and WaveMark Mobile, designed specifically for the unique field inventory and production planning needs of the device supplier. WaveMark Real-Time™ captures product level information from WaveMark CIMS cabinets. This real-time data allows suppliers to improve service to each individual hospital by managing product expirations, recommending par levels, eliminating stock outs, and providing a better understanding of trends in product use. As a more efficient way to capture information, RFID offers a responsive service to the hospitals and is available at a lower cost to suppliers. WaveMark Mobile™ provides suppliers with field inventory visibility, and simultaneously delivers sales force workflow efficiencies by automating common sales transactions. Suppliers can provide better customer service by enabling product visibility for the sales force to manage product expirations resulting in timely replenishments for hospital customers. In addition, WaveMark's RFID technology provides the inventory accuracy needed by suppliers to help meet regulatory requirements.

WaveMark CIMS Eliminates Manual Inventory and Improves Workflow at Hospitals WaveMark's original solution, WaveMark CIMS, has been in use in clinical labs since 2005, providing strong financial, operational and workflow benefits for hospitals. WaveMark CIMS leverages RFID and networking technologies to track and manage medical device inventory delivering rapid ROI by eliminating manual processes and providing a highly efficient workflow. WaveMark's use of RFID offers a highly accurate inventory of medical devices and provides detailed tracking information for hospitals. By eliminating the manual process of tracking inventory to ensure every device is accounted for and providing automatic recommendations for replenishing inventory, the WaveMark solution ensures administrators overseeing the labs are now able to focus more of their time on other areas of importance – their patients. With WaveMark CIMS, hospitals are now able to reduce inventory levels, better manage expirations, and ensure the right product is available when needed, helping to meet JCAHO regulations. WaveMark's subscription service model makes inventory and usage information accessible to hospitals of any size without the constraint of a capital approval process.

About WaveMark
WaveMark, Inc. is a leading provider of real-time inventory management solutions for high value specialty products in the healthcare supply chain. WaveMark leverages its proven expertise in Radio Frequency Identification (RFID) and network technology to help healthcare providers and medical device suppliers address key concerns in healthcare including cost containment, patient safety, and regulatory compliance. Committed to a more efficient healthcare supply chain, WaveMark's solutions eliminate manual processes, reduce costs and streamline workflows for hospitals and suppliers. WaveMark's clinical and field inventory solutions offer product-level visibility and highly effective inventory control, which support regulatory compliance and a rapid return on investment. WaveMark was founded in 2003 and has been deployed in special procedure labs such as Cath, IR, EP as well as operating rooms. WaveMark solutions are available on a subscription basis. For more information, please visit www.wavemark.net.

SOURCE: WaveMark, Inc.