Free Essay: Data Analysis Framework

Operating rooms in the current healthcare facilities are considered as one of the significant sources of waste and cost. However, In the current healthcare facilities, operating rooms are an essential source of income in the hospitals. It is therefore essential to manage surgical supplies, instruments, and wastes to achieve patient safety and reduce the cost incurred. This study will apply the (always, better, and control)ABC, VED( vital, essential, and desirable), and ABC-VED matrix analysis to evaluate the impact of an inventory control system in the reduction of the expenses that are incurred in material control in healthcare (Fitriana, Donn, & Budi, 2017).

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The paper will also utilize the ABC method as it helps in the categorization and identification of medical items and drugs that require more attention and control. Under this formula, medical equipment is categorized into four groups. Group A represents 10% of the medical items that incur 70%of the hospital budget. Group B contains 20% of the hospital inventory. This group only uses 20% of the hospital expenses. Group C constitutes 70% of the medical items and is serviced by 10% of the total healthcare facility budget.

VED analysis will be used as it will help in the identification of hospital items' critical values and shortage costs of the items. ABC-VED matrix combines both ABC and VED. The matrix will be used to construct an effective control system. Hospital materials are categorized into three classes using this method. The first category is composed of all the V items. The second category contains V and E items while the third category contains CDs which are cheap but desirable items (Anand, Ingle, Kishore, & Kumar, 2013)

Business Finance Customer Organisational Learning/ Growth

And an increase in waiting time results in an increase of tardiness Increase in tardiness results to financial losses due to underutilisation of hospital facilities and costs of overtime When patients are kept waiting, their health may deteriorate, and their satisfaction level in-hospital services decreases Hospitals management should reduce tardiness by increasing the number of operation room available

Increasing in treatment based on patient’s preference This reduces the cost incurred by the hospitals as overtime cost Patients achieve a higher utility when they receive care based on the choices Develop a patient-oriented operating system

Presence of all the necessary hospital items throughout the hospital’s operation Reduction of drug expenditure Patents are well served and provided with all the services that they need from the hospitals Develop an advanced inventory system

References

Anand, T., Ingle, G., Kishore, J., & Kumar, R. (2013). ABC-VED Analysis of a Drug Store in the Department of Community Medicine of a Medical College in Delhi. Indian Journal of Pharmaceutical Sciences, 75(1), 113. doi:10.4103/0250-474x.113543

Fitriana, I., Donn, R. G., & Budi, D. C. (2017). Medicine Inventory Management by ABC-VED Analysis in the Pharmacy Store of Veterinary Hospital, Yogyakarta, Indonesia. Asian Journal of Animal and Veterinary Advances, 13(1), 85-90. doi:10.3923/ajava.2018.85.90