Why medical and healthcare facilities can benefit from Enterprise Asset Management (EAM)
As healthcare systems are placed under greater strain, the effective management of assets has become increasingly important.
The interaction between EAM and healthcare
Consider a hospital with various assets like beds, trolleys, MRI machines, CT scanners, X-ray machines, and ventilators. These assets are critical to the hospital’s operation and patient care.
By implementing EAM software, the hospital can monitor the condition and performance of each asset, schedule preventive maintenance, and manage work orders.
This ensures that the assets operate at their best, reducing downtime and improving patient care.
The need for better asset management in healthcare hasn’t gone unpublicised, and many healthcare facilities are ramping up investment in EAM. For instance, asset management software for healthcare is expected to reach a global value of $35bn by the end of 2023.
Healthcare bodies, such as the NHS, are encouraging investment and use of EAM. For instance, a 2021 NHS policy paper entitled Assets in action states, “asset management is important in terms of both reducing the costs associated with assets and maximising the quality of services that those assets are used to produce.”
How EAM software functions in healthcare
EAM in healthcare is essential for reducing costs, maximising asset performance, and maintaining high-quality patient care. It starts at the asset planning stage and continues until the asset is disposed of, tracking the status and condition at every stage, including:
Procurement
Installation
Daily-use
Maintenance
Compliance
Risk management
Disposal
EAM software begins with implementing a framework to categorise assets, typically using dedicated asset management software installed on-premise or accessed through a remote cloud platform.
Healthcare asset managers can edit asset details and add attachments, such as documentation, manuals, and vendor contracts, all in one secure location.
EAM systems in healthcare facilities enable automation and management of the work order lifecycle, including preventive maintenance, issuing work orders, obtaining customer approval on invoices, and coordinating work teams.
By storing each asset’s status, repair, and work history, EAM systems serve as a knowledge base for a facility’s assets. This centralised data repository can be used to identify inefficiencies, maintain compliance, and train staff effectively.
Why healthcare facilities need EAM
Healthcare facilities need EAM to ensure optimal performance and prolong the life of their assets.
The longer an asset serves, the more critical proper and regular maintenance becomes.
For example, in the UK, research shows that over 25% of healthcare trusts use at least one “out-of-date” CT scanner, whereas some MRI and X-ray machines are over 20 years old.
EAM software reduces the risk of using older technology while streamlining the practical and administrative tasks that accompany managing healthcare assets as a whole.
This is imperative in the healthcare and medical industries, where asset management and performance are directly linked to patient care and outcomes.
Key benefits of EAM software in healthcare
EMA software enables healthcare facilities to improve their management of medical assets like medical devices, beds, trolleys, and building-related assets such as HVACs, heaters and dehumidifiers.
Here are the benefits of EAM software in healthcare:
EAM software enables healthcare facilities to monitor and manage assets effectively. This helps guarantee their optimal performance, reduces downtime, and extends the lifespan of critical equipment.
EAM systems centralise asset-related information, making it easier to access, manage, and analyse data. This improves decision-making and helps healthcare facilities identify trends and optimise maintenance schedules.
In terms of compliance and risk management, EAM software assists healthcare facilities in maintaining compliance with regulatory standards, reducing the risk of penalties, and ensuring patient safety. It also helps identify potential risks associated with asset failure and implement appropriate mitigation strategies.
By automating maintenance tasks, EAM systems streamline processes and enhance the coordination of work teams. This results in increased efficiency and reduces the time spent on manual tasks.
EAM software enables healthcare facilities to adopt a proactive approach to asset management, focusing on preventive maintenance rather than reactive repairs. This can lead to significant cost savings by reducing the frequency of expensive equipment breakdowns and replacements.
With data-driven insights, healthcare facilities can make informed decisions regarding asset management, maintenance, and resource allocation. This ensures the best use of available resources and helps optimise overall operations.
By storing asset data, EAMs serve as a knowledge base for facility assets, which can be used to train staff on proper usage and maintenance practices.
EAM software helps healthcare facilities monitor and manage energy consumption, water usage, and waste disposal. This enables them to identify opportunities for reducing environmental impact, which has become part of compliance responsibilities across many countries worldwide.
Types of Enterprise Asset Management software
EAM vs CMMS
While EAM and Computerised Maintenance Management Systems (CMMS) share some similarities, EAM offers a more comprehensive approach to asset management, focusing on the entire lifecycle of an asset rather than just maintenance tasks.
Asset management involves managing assets throughout their entire lifecycle, from procurement to disposal.
Moreover, modern EAM software offers people management, compliance tracking and several other features beyond maintenance alone.
On the other hand, CMMS is solely focused on the maintenance side of things.
IMMPs (Intelligent Maintenance Management Platforms) and the future of asset management in healthcare
While EAM and Computerised Maintenance Management Systems (CMMS) share some similarities, EAM offers a more comprehensive approach to asset management, focusing on the entire lifecycle of an asset rather than just maintenance tasks.
Asset management involves managing assets throughout their entire lifecycle, from procurement to disposal.
Moreover, modern EAM software offers people management, compliance tracking and several other features beyond maintenance alone.
On the other hand, CMMS is solely focused on the maintenance side of things.
Types of Enterprise Asset Management software
EAM vs CMMS
While EAM and Computerised Maintenance Management Systems (CMMS) share some similarities, EAM offers a more comprehensive approach to asset management, focusing on the entire lifecycle of an asset rather than just maintenance tasks.
Asset management involves managing assets throughout their entire lifecycle, from procurement to disposal.
Moreover, modern EAM software offers people management, compliance tracking and several other features beyond maintenance alone.
On the other hand, CMMS is solely focused on the maintenance side of things.
IMMPs (Intelligent Maintenance Management Platforms) and the future of asset management in healthcare
IMMPs, an evolution of the EAM system, provide advanced capabilities such as real-time communication, AI-driven predictive maintenance, and mobile alerts.
These platforms have the potential to revolutionise asset management in healthcare facilities, offering more efficient, data-driven, and proactive approaches to managing and maintaining assets.
IMMPs provide the holistic functionality that healthcare and medical facilities demand when it comes to managing their people, buildings and assets.
Infraspeak’s IMMP offers cutting-edge maintenance tools, collaborative features and numerous opportunities for automation and integration.
To learn more about how our IMMP can transform the way your healthcare facility handles asset management, book a demo here.