Based on its recent analysis of the European Operating Room Inventory Management Solutions Industry, Frost & Sullivan recognizes Identi Medical (Identi) with the 2022 New Product Innovation Award for delivering superior data-capture solutions that create real-time operating room (OR) medical inventory data. Identi Medical enables hospitals to replace barcodes and manage their inventory with effective image recognition sensors and real-time tracking, facilitating cost-effective medical product management.
The company significantly improves efficiency and patient safety with daily inventory reports that leverage artificial intelligence (AI) and machine learning (ML) to increase accuracy and productivity for healthcare providers. With Identi’s platform, hospitals can scan each product, keep track of stock consumption, guarantee product replenishment, and much more.
“Identi Medical’s revolutionary inventory management solution showcases the company’s innovation acumen and proactivity in addressing niche OR challenges that usually go unnoticed and are a growing black hole for hospitals,” said Ram Ravi, Industry Analyst at Frost & Sullivan. “The system converts images into machine-readable data that any hospital system, such as EHR, business intelligence and analytics, enterprise resource planning, and maintenance management information system, can access and use through the company’s cloud-based AI management software, IDENTIPLATFORM™.”
SNAP&GO™ and IDENTIPLATFORM™ are two flagship Identi products that simplify tedious tasks of entering and tagging products into a database. They enable nurses to register the inventory with a quick snapshot that saves the data in a cloud-based platform. These powerful products have multiple benefits, such as saving dozens of hours annually, reducing human error, simplifying the data collection process in ROs, and decreasing the time it takes to enter and tag data into a database.
Identi also holds a customer-centric vision that delivers an exceptional customer experience and support, which helps the company quickly expand its customer base and gain more clients. The company currently has notorious clients such as Harvard University, DHL, Johnson & Johnson, University of Notre Dame, among other well-known clients.
“With healthcare customers at the heart of its solution development, Identi Medical is well-positioned to grow in the OR inventory management solutions market. Its innovative solutions and AI management software enable the company to enhance its global presence,” noted Ravi. “Its emphasis on customer satisfaction and consistent drive to improve existing product lines contribute to its broad base of elite customers.”
Each year, Frost & Sullivan presents this award to the company that develops an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased return on investment (ROI) it gives customers, which, in turn, raises customer acquisition and overall market penetration potential.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About Identi Medical
IDENTI Medical’s patented technology (identimedical.com) enables hospitals to automatically manage their medical inventory to provide safe error-free care for their patients and become efficient and cost-effective in their inventory management. Snap & Go (Frost & Sullivan’s winner product) is a product identification platform that uses image recognition to capture and record medical products in a surgical setting with no human intervention. The image-sensor documents item usage and cost, and monitors product integrity (recall and expiration dates). Among the other company-owned proprietary products are Total Sense Smart Cabinet, Secured Medications and Narcotics Cabinet, Smart Weighing Bin for Kanban & PAR inventory.
Our solutions are unique as they combine hardware and cloud software together, and through hospitals and their suppliers are able to both maximize their revenue capture and reduce time spent on supply management by clinical teams. Hundreds of hospitals, medical device manufacturers, and international logistics companies worldwide are connecting through IDENTI’s cloud software and a global database of medical products that is updated daily based on AI and machine learning algorithms, to support the global goal of standardizing medical products led by the regulatory organization FDA.