20WAYS TO IMPROVE PATIENT CARE & PHARMACY COST CONTAINMENT Intelliguard® RFID Solutions for Critical Inventory™ by MEPS Real-Time® Intelliguard® RFID Solutions ensure the right drugs in the right doses are delivered when and where they are needed by improving and simplifying medication and medical supply inventory management in hospitals, pharmacies, manufacturing facilities, and clinics. WINTER 2014 I HEALTH SYSTEM • INFUSION 11 President & CEO: Shariq Hussain Founded: 2001 Employees: 65 Phone: (760) 448-9500 Fax: (760) 448-9599 Address: 6451 El Camino Real, Suite C Carlsbad, CA 92009 Website: www.mepsrealtime.com Company Background MEPS Real-Time, Inc. is a leading innovator of Radio Frequency Identification (RFID) solutions for the pharmaceutical and healthcare industries. Like so many great American corporate stories, the core intellectual property of MEPS Real-Time® was developed in an airport … on a napkin. Seriously. Recognizing the vital role pharmacies play in safe, quality patient care and understanding that pharmaceutical inventory represents a large amount of hospitals’ operating expenses, two enterprising inventors asked themselves, “How can we better utilize RFID to manage medication challenges in hospitals?” The two concluded RFID technologies would be an indispensable tool for increased visibility of critical pharmaceutical inventory—a Medication Error Prevention System—and MEPS Real-Time® was conceived that day. Today, our suite of Intelliguard® RFID Solutions are used in major medical centers in the U.S. and Canada with a focus on RFID as an enabling technology for pharmacy workflow automation and inventory management systems. Product Overview Serious medication errors can occur if the correct medication is not available for patient care. Excessive inventory holding costs, waste of expired medication and unnecessary staff work time can cost hundreds of thousands of dollars. Intelliguard® RFID Solutions offers unprecedented real-time visibility of critical pharmaceutical inventory to reduce costs through optimum drug inventory management and monitoring of expiration dates, NDCs, recalls, lot numbers, and temperature. Intelliguard® RFID Solutions increase staff efficiency by eliminating manual counting and item-level scanning through automation; improve patient safety through medication error prevention; and enhance diversion prevention with embedded security features. Pharmacy management and administration receive actionable data for evidencebased decision making to control expenditures, increase the overall efficiency of the organization, and ensure the right pharmaceutical inventory is available to meet patient needs. The Intelliguard® RFID Solutions Include: • Intelliguard® Kit and Tray Management System • Intelliguard® Inventory Management System • Intelliguard® Vendor Managed Inventory System A recent study with Sharp Memorial Hospital in San Diego showed significant improvements in medication kit and tray replenishment accuracy and an average 80% reduction in pharmacy reprocessing times when using the Intelliguard® Kit and Tray Management System. In a previous study utilizing an Intelliguard® System for a selection of high-cost medications, Sharp realized an initial inventory reduction of nearly 25% and an additional 17% reduction in average daily inventory over the 14-month study due to reduced par levels, with no expirations or stock-outs. Features & Options n Dynamic Sensor Module™ (DSM) MEPS Real-Time® has integrated and brought to production two patented and exclusive DSM™ antenna solutions to provide excellent RFID system performance in a size-efficient, cost-effective form factor. Our patented and exclusive intellectual property allow us to integrate antenna systems into challenging environments. Our Intelliguard® Kit and Tray Management workstations are 83% smaller than the leading competitor, while still providing reliable 100% read rates. n Next-Generation RFID Smart Tag Development Based on clinical research, MEPS Real-Time® developed and introduced a new Intelliguard® RFID Smart Tag— a full 65% smaller than the leading competitor for specific applications such as kits and trays used by anesthesiologists and other urgent-response healthcare providers. This single RFID Smart Tag works for all medication packaging including syringes, ampules, vials, boxes, and bags (the accompanying photo features our new Smart Tag at work in an anesthesia tray). Testimonial “The Intelliguard® Kit and Tray Management System has significantly improved accuracy and reduced pharmacy replenishment time from between 5 to 45 minutes to three minutes, even with trays containing more than 120 items. My staff can now focus more on patient care and I have more confidence that important floor stock medication, including many that are used in critical emergencies, are properly replenished.” — Shannon “JJ” Johnson, Pharm.D., Director of Pharmacy Sharp Memorial Hospital, San Diego, CA Contact MEPS Real Time® (760) 448-9500 | info@mepsrealtime.com | mepsrealtime.com
20Ways Winter2014 Hospital Edition
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