WaveMark Inc., a provider of RFID-enabled inventory management solutions with a focus on high-value medical supplies, has partnered with LUMEDX, a developer of cardiovascular information and imaging systems.
The companies will integrate WaveMark’s Clinical Inventory Management Solution (CIMS) with LUMEDX’s Apollo Cardiovascular Information System, streamlining charge capturing and patient billing, and helping ensure the proper tracking of high cost inventory.
WaveMark’s CIMS uses RFID technology to provide hospitals with real time inventory tracking and inventory level optimization, as well as managing issues such as expiration of perishable materials and recalls of high-end medical devices like pacemakers. Integrated with LUMEDX’s system, CIMS offers hospitals the ability to increase billing accuracy by processing charges for items used at the point of care.
The integrated system was developed with the assistance of the Florida Hospital Orlando, a strategic customer of the two firms. Florida Hospital reports a positive experience with the system, with a reduction in billing errors and a more efficient work flow for clinical staff.