The Internet of Things (IoT) has the potential to bring about a drastic change to our lives by interconnecting various devices, sensors, and appliances to make life simpler and more comfortable. That being said, the application of IoT has been mostly focused on areas such as smart home, connected cars, industrial internet, retail, and smart cities. Recently, the application of IoT has extended to the healthcare industry, where it bears enormous potential not only for the companies but also for the well-being of the general population. The use cases of IoT in healthcare is ever increasing with the introduction of smart wearable devices tracking patient wellness round the clock.
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The process of inventory management using IoT is not strictly practiced in hospitals. They can pick up a few pointers from the retail industry to leverage IoT technology. A big challenge arises when hospitals strive to integrate healthcare IoT tools with ERP solutions. Hospitals will significantly benefit from optimized inventory management in areas like pharmacy and overall inventory control in warehouses with the help of smart cabinets. Healthcare IoT enhances the ability of healthcare technologies to track the shelf life of medicines, alert low stock levels of medicines and medical equipment, and plan inventory ordering.
Healthcare IoT and Inventory Management
The key to effective hospital cost management comes down to proper resource allocation. Matching workforce availability with fluctuating demand for healthcare is a near-impossible task. However, that scenario is going to change with the use of RFID tags, wristbands, and ID badges, which can help them manage the throughput, analyze bottlenecks and work a way out to resolve such bottleneck issues to deliver increased value to the patients.
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Healthcare IoT and Patient Well-Being
The sole existence of the healthcare industry revolves around the well-being of the patients. The Healthcare industry is increasing its dependence on IoT technology to improve patient outcomes. They do so by using smart, interconnected devices that transmit patient-related information that can be analyzed by physicians from any location.