Gordon Krass, CEO of IntelliGuard, discusses how the late-stage startup company is making the medication supply chain within U.S. hospitals safer and more efficient.
You will learn the following:
With the use of radio-frequency identification (RFID) technology and data analytics, IntelliGuard has one ultimate goal in mind: maximizing positive healthcare outcomes for patients.
Krass explains that while hospitals in the U.S. today are on the cutting-edge of the clinical side of the business with the use of AI in surgeries, new procedures, and advanced imaging technology, the infrastructure that’s responsible for running hospitals is outdated, relying far too heavily on paper-based documentation and human interaction.
“People think the supply chain of medications is secure, the truth is it’s not,” says Krass, citing a 60 percent accuracy rate for inventory of critical medications used in surgeries and other complex procedures. This inadequacy is a dangerous one, leading to the administration of expired, recalled, incorrect, or counterfeit drugs.
Aside from labor, drugs and supplies are the highest cost items in hospitals, but despite this, hospitals don’t know where medications are or how much they have on hand at any given time. “Most businesses would not be in business if they operated in this way,” says Krass.
He continues by explaining the details of how IntelliGuard is working to address these issues, where some of the greatest weaknesses lie in the current system, and how IntelliGuard technologies will transform hospital infrastructure in the U.S. for the better.
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