WaveMark's Integrated Advanced Analytics is a powerful business intelligence platform that enables hospital administrators, supply chain managers, and clinical leaders to rapidly detect trends, and analyze and act on information. The goal is to ensure that the right products are on the shelf at the right time and in the right amounts, while substantially reducing the costs of holding and managing inventory.
Features of WaveMark's Integrated Advanced Analytics include:
WaveMark users can identify opportunities for right-sizing inventory for both purchased and consigned products as well as products at risk of expiration and write-off. Product usage trends over time are important for vendor negotiations and on hand inventory snapshots show the value of the on hand stock for both owned and consigned products in real-time. The reports are very helpful for explaining variance against budgets through analyzing product usage by type, by month, and by physician and seeing trends over time. Ultimately, the information in Advanced Analytics leads to fewer expensive write-offs, improved negotiating positions, and lower cost of carrying inventory as well as other benefits associated with physician product preferences over time.