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Perspectives on Optimizing Asset Utilization in Healthcare for $40-50 Million Annual Added Value Per Hospital

Speakers

Mohan Giridharadas
Mohan Giridharadas
Founder and Chief Executive Officer, LeanTaaS

Summary

Ignoring the mathematical complexity of balancing supply and demand in health systems does not make this problem go away. Matching the fixed supply of healthcare assets with unpredictable patient demand for them requires sophisticated demand models – for each unit of service, for each hour, each day of the week – with models that learn continuously. 

Health must have a sophisticated understanding of the elements of supply capacity needed for each service to extract the interconnectedness and the constraints under which they must operate. Then, it takes active intervention on a continuous basis to nudge the demand or supply in a direction to stay as close to equilibrium as possible throughout the day, every day. The EHR was not built for this. LeanTaaS’ AI-powered iQueue suite of solutions were designed to do this exactly.

In this session, LeanTaaS founder and CEO Mohan Giridharadas will explore the importance of full asset utilization in healthcare and how unlocking capacity in key assets like ORs, inpatient beds, and infusion chairs can lead to improved patient experience, hospital economics, and staff and provider satisfaction. He will also examine the financial impact of optimizing asset utilization through matching supply with demand, which amounts to $200-250 billion dollars per year across all 5,000 hospitals in the US, or $40-50 million dollars per year for the average hospital.

Viewers of this webinar will be able to: 

  • Understand why asset utilization in healthcare is broken and learn lessons from other industries that can be applied for dramatic results
  • Discover how capacity management can be an innovative solution to address critical staffing challenges
  • Recognize why AI-driven systems are superior to existing processes and technologies at matching supply and demand, and why they are a smarter capacity investment than building more facilities

Results

Optimizing asset utilization across the health system has clear financial and operational impact.
Improving OR staffed room utilization by 5-6 points allows more surgeries to be completed per day, for tens of millions of dollars annual value for 20+ OR hospitals.
Reducing wait times in infusion centers by 40-50% unlocks 10-15 % of extra capacity, for $1 million dollars annual for 50+ chair oncology practices.
When we think about our vision, we want to optimize assets one at a time at a single hospital. And then across the entire health system. We want each of our products to be massively scalable.
Mohan Giridharadas
Founder and Chief Executive Officer, LeanTaaS

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