They shared the following tips on consignment:
1. Consignment ordering is flexible. ASCs can stock supplies for everyday use, as well as for emergency cases, which allow for cost savings as the center is billed only for what is used.
2. Through using consignment, inventory management is handled by the supplier rather than the ASC, saving staff time.
3. Determining the minimum quantity of supplies that must always be kept in stock can help the inventory manager replace products on consignment as the center needs them.
4. When ordering supplies on consignment, inventory managers should pay attention to material prices. Suppliers will often charge the same for products, but ASCs can be billed for what is not used after six months.
5. ASCs should touch base with their supplier and ask them questions related to how consignment might help the center save costs. Questions to ask include how consignment might make the ASC more efficient and optimize inventory, as well as how involved the supplier will be with inventory management.
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At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.