Pandemic Perspective: How COVID, Monkeypox, and the threat of emerging global illnesses has changed the healthcare landscape and prompted providers to explore new options for medical supply management.
There have been plenty of thoughtful discussions about how the COVID crisis impacted industries from retail to commercial development. But there has been surprisingly little written about the impact and implications for a critical component of the industry most directly affected by the pandemic: healthcare—and the evolving landscape of medical supply management.
As a marketplace for a wide range of healthcare supplies, DocShop Pro has had a unique vantage point to view the COVID disruption firsthand. We were on the front lines of the medical supply drama in the earliest days of the pandemic, and we have witnessed the evolution of how this space has evolved since.
Understanding how pandemic pressures impacted medical supply chains and how medical supply professionals and healthcare providers adapted under trying circumstances is an important first step toward recognizing what the future of medical supply management might look like.
Context and consequences
Given the degree to which innovation and new advances have defined modern medicine, it’s a puzzling irony that medical supply management has long lagged behind the curve when it comes to efficiency and technological sophistication. For many medical practices, ordering medical supplies has traditionally been a tedious, disorganized and often informal process, often reduced to something as simple as a handwritten grocery-list-style of notes assigned to an assistant for decision-making. The result is a critical component of a critical industry ill-prepared to respond efficiently to what was about to be a historic crisis. From sourcing hard-to-find essentials, to educating clients about certifications and different product-specific designations, the first months of the pandemic were a chaotic and stressful time. While the marketplace has stabilized, challenges remain—and more change is needed.
Scarcity and sourcing
In the 30+ months since the pandemic arrived on American shores, similar sourcing issues remain. A cycle of surges and scarcity and a newly fragile global supply chain has introduced a heightened level of uncertainty into medical supply management. Well-known and ongoing challenges include:
- Difficulty keeping injectables, like lidocaine and some anesthetics, in stock.
- PPE, while inconsistent, is more readily available, but items like medical furniture (e.g., chairs and tables for exam rooms) and ultrasound equipment still have painfully long wait times.
- While the supply side has generally gotten better, shipping costs and inflation have introduced new pricing pressures.
- Some physicians have responded to scarcity and intermittent availability by hoarding and over-ordering, which only exacerbates existing problems.
- Perishable supplies and expiration dates for medications and other critical materials.
How can physicians and other medical providers combat this new uncertainty and streamline their medical supply management strategies? It is admittedly a challenge, with the inherent market volatility making it virtually impossible to predict availability or even guarantee on-time delivery.
So where do we go from here?
Preparation and innovation
The good news is that the healthcare industry is evolving. Some physicians and healthcare institutions are taking long overdue steps to modernize their medical supply management—from new ordering strategies to more sophisticated inventory management solutions. Fewer doctors are completely delegating supply ordering responsibilities, and more are taking a hands-on role in comparing prices and shopping for supplies. They are also making more frequent purchases and being more proactive with orders for critical supplies rather than waiting until the last few items of a given product are on their shelves.
In an industry that is historically reluctant to change and suspicious of tech solutions, it is encouraging to see growing numbers of medical professionals recognizing and embracing the value of online ordering platforms. Physicians are learning that, even at a time when there is so much they cannot control, their inventory management can get more streamlined and sophisticated. Embracing tech solutions makes it easier to avoid overstocking or overpaying—and boosts your odds of on-time delivery. Just as importantly, it allows them to be better physicians and focus on doing what they do best: providing their patients with an outstanding quality of care.
To better prepare for the next pandemic, physicians and medical professionals would be wise to continue to develop a better understanding of not just the financial bottom line, but the operational health of their practices. Understanding KPIs and medical and material supply necessities will help you manage inventory smarter and more efficiently—and be better able to navigate shortages and disruptions in the future. It’s also smart to develop close relationships with reliable suppliers, the best of which can proactively let customers know when essential items that are rarely in stock or sell out quickly become available.
A new medical supply management paradigm won’t happen overnight. Many physicians are still used to having vendors visit them in person to make sales—and that practice continues today. As with any new thing, change is difficult, and takes time. But one silver lining of the pandemic is the degree to which it has accelerated a long-overdue movement to online ordering in healthcare.