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There are about 800,000 beds in the U.S. Healthcare System – 350,000 of which TeleTracking manages.
Let’s say on average over a score of medical professionals attend to each of those beds every day.
Let’s also say that you have no way of knowing the status of each bed, or the location of the attending staff at any given moment. In fact, you can’t know any of that information for hours.
Mike Gallup, President of TeleTracking, thinks the time that is wasted because of the lack of visibility is a big contributor to the waste of $1 trillion each year by the American Health System.
“Healthcare systems are like care that get one mile to the gallon,” Gallup told TEQ Magazine recently. “TeleTracking helps get them to 40 mpg.” To read the full article, “Solving a Trillion Dollar Problem,” click here.
For example, Gallup said, one-third of a nurse’s time is spent on patient care, one-third is spent on finding ‘stuff’, and one-third is spent documenting ‘ things’. TeleTracking eliminates the time spent ‘finding stuff’, leaving more time for patient care.
“Roughly 60 percent of operating expenses in healthcare are labor-related, so if we could improve that – even by 20 percent – that is a significant opportunity,” said Gallup.
Attacking waste in healthcare is becoming an even more pressing issue because of the Affordable Care Act (ACA).
“The ACA put 30 million more patients into the healthcare system without any more money,” which is essentially the equivalent of pulling money out of the existing system,”
“When you pull funds out of a system, it must become more efficient.”
The heart of TeleTracking’s mission is to eliminate waste by keeping better track of patient conditions, locations, medical professionals’ availability, and a facilities equipment, so that hospitals can operate with greater cost-efficiency, and most importantly, gain time to actually focus on providing quality care.
“Our company stands at the leadership position of a new frontier” offering a healthcare operating system to reduce waste end-to-end in an overarching platform.”
“TeleTracking is No. 1 in patient flow, staff flow and equipment flow in healthcare operations management,” Gallup concluded. “No other competitor shares our vision.”