Return on Investment
The cost of inadvertent retention of surgical items in a patient can be financially devastating to the healthcare provider. The ORLocate™ system will substantially reduce the approximately $2 billion spent annually on these non-reimbursed events. It is estimated that one in every 1,500 intra-abdominal surgeries results in a foreign object being erroneously left behind in the patient. This adds an average cost of $63,631 per hospital stay. Additional OR related savings will result from eliminating costly X-rays and radiation dosages used as secondary measures to locate missing items.
The ORLocate™ system will enable hospitals to reduce significant costs incurred by manual counting procedures, which are prone to human errors. With ORLocate™, the hospital can discard costly operating room delays due to count discrepancies and/or missing instruments.
By eliminating loss of surgical instruments, ORLocate™ will also dramatically reduce the annual shrinkage budget allocated to replacing lost surgical instruments.
With ORLocate™ the following ROI components are within reach:
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Reduction of instruments shrinkage by more than 50%
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Increased tray accuracy up to 100%
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Reduction in surgical instrument inventory up to 15-20%
Liability Decreased
The ORLocate™ system is a primary asset in reducing RSIs (retained surgical items). Reducing patient complications inevitably results in reducing costly litigation. As many hospitals switch to self-insurance, avoiding the costly litigation incurred by RSIs can eliminate these unnecessary expenses and in turn provide a greater contribution to the bottom line.
No Additional Cost to the Patient or the Health Insurance Fund
All the benefits of cost reduction and avoiding losses have no financial impact on the patient or the health insurance fund.