Medical Device Loaner Stock: Complexity that Demands a Purpose-Built Solution

It’s not easy to manage product loans for the field: translating requests, the reverse logistics of receiving, replenishing, and billing—all while optimizing inventory. It’s too complex to expect generic tools to handle. Loaner Operations needs a tool built for the job.

CHALLENGES to Loaner Inventory

Implantable med device field loaner operations must manage complex combinations and configurations of various inventory products—including implants, kits, sets, instruments, and disposables. Accurate allocation, shipping, tracking, and replenishment processes typically require significant manual intervention. Complications are introduced through ambiguous loan requests, high pressure patient circumstances, and the need to support a high volume of surgeries using limited inventory. The reverse logistics involved requires complex processes to track the thousands of permutations of inventory movements—before and after surgery.

Typically in this space, disparate processes rely on a patchwork of “band-aid” tools and systems. Unusable software, outdated technology, and painful processes make this complex system even more cumbersome. This inefficiency and disconnectedness widens communication gaps between sales and ops teams, impacting their vital ability to deliver the right products to the right place, at the right time.

Med Device Loaner Challenges:

• Loaner Inventory Management relies on complex combinations of implants and instruments.
• Fulfilling ambiguous, high-volume/high-pressure requests using limited inventory.
• Reverse logistics: constantly moving products in thousands of permutations.
• Communication, availability, visibility and manual process complexities.
  

What a Real Loaner Management Solution Has to Do

To address these complexities, a system for medical device loaner operations must combine all the required technology with industry best practices in process and change management. A true loaner solution translates sales rep behavior and communications in order to drive operational actions, while tracking all inventory at every exchange. Additionally, a product tree for product requesting is not just helpful,but imperative to scale the operations.  A true loaner solution tracks all assets throughout the case lifecycle, builds transparency and trust through accurate communication and visibility, and increases inventory availability through efficient asset management.

Components of an Effective Loaner Solution:

• True translation of requests and behavior into operational actions.
• All technology (RFID, Manifests, barcodes, Software, Etc.) and processes embedded into one system.
• Tracking of all assets throughout the case lifecycle including reverse logistics.
• Accurate visibility and communication that drives transparency and trust, all within the solution.
  

FINALLY, Technology That Is Actually Aligned to Best Practices

Movemedical is purpose-built to solve medical device field inventory challenges. All necessary advanced capabilities are included in the software platform, and they are fully embedded throughout the operations process. This creates a true (complete) loaner solution.

Comprehensive Loaner Solution = Technology + Software + Processes

The key differentiation is a comprehensive loaner solution that drives the right actions while providing visibility.  

Movemedical was built for this

“Predictable availability, integrated RFID, integrated manifesting.  Essentially all the tech is embedded in the process.”

– Bo Molocznik, Founder and CEO, Movemedical

Movemedical enables availability, visibility, accuracy, and compliance because the loaner process is built into the software and drives the processes, in real-time.

The Movemedical Loaner process involves scheduling cases, generating product trees based on surgery details, loan requests, sourcing products, picking/packing/shipping, and tracking the product usage lifecycle. This ultimately ensures inventory arrives completely, is returned promptly, and is optimized throughout the entire reverse logistics process.

BENEFITS:  Reduce Costs  |  Reduced Manual Effort  |  Optimized Inventory

Movemedical empowers sales representatives and operations teams. It reduces reliance on consignment locations with limited clinical space, enabling scalability. Using Movemedical will improve inventory requests and lead times, and increase overall operational efficiency.

Movemedical also provides financial impacts by driving compliance, supporting revenue growth, and reducing excess inventory. It facilitates high-value new product launches, shortens sales cycles, and transitions inventory effectively.

Movemedical is a tool—not a magic bullet, and it requires operational discipline and accountability. Engaging with Movemedical involves forming a partnership with experts in the field to achieve faster and more successful outcomes compared to any other loaner solution tool available.

Benefits of a True Loaner Solution (Movemedical):

• Empowerment of sales reps through enhanced operational efficiency.
• Scalability for Operations and Support Teams
• Reduced reliance on consignment.
• Improved lead times and increased operational efficiency.
• Financial impacts:
  • driving compliance
  • supporting revenue growth
  • reducing excess inventory.
    

Movemedical Process Overview:

Movemedical is a comprehensive system that covers the various stages of the field inventory lifecycle: from scheduling to pre-surgery to post-surgery inventory management.

• Scheduling cases, generating requests through product trees based on surgery details.
• Managing loan requests: sourcing, picking, packing, and shipping of products.
• Tracking the usage lifecycle, billing processes and prompt return of inventory.
  

Connect With Us

If a discussion about how your business could benefit from a purpose-built loaner solution makes sense, let’s start the conversation...contact us here:  

info@movemedical.com  / call 877.469.3992