Healthcare represents a huge industry that sees millions of emergency visits and stays annually. In fact, healthcare expenditures in the US were estimated at $3.24 trillion in 2015. Much of this will go toward costly equipment. These assets, however, are often misplaced.
One recent investigation uncovered that a major medical centre took a huge financial hit simply because they were “unable to locate” 383 assets. The study’s findings paint a grim image of asset tracking in healthcare: “More than $11 million in taxpayer money was used to purchase hospital equipment that has since gone missing from a Bay Area medical centre.”

This is due largely to poor processes. While making institutional changes in the industry will take time, the Internet of Things is becoming an increasingly popular solution to healthcare problems. Connected technology offers providers the chance to automate time-consuming services and increase efficiency. Real-Time Location Systems and asset tracking solutions help administrators ensure security and regulation compliance as well as enable employees to work more efficiently on a daily basis. For hospitals, asset tracking offers the chance to increase equipment utilization rates, reduce the loss of expensive assets, and bring new possibilities to patients and visitors..