RTLS ROI Calculator
Learn how to assess your potential return on investment (ROI) from employing an RFID-based real-time location system (RTLS). This interactive spreadsheet comes with supporting notes that explain the assumptions in the calculator.
Price: $199, or $99 with your conference pass
The calculator enables health-care providers to enter information regarding the number of units of various types of mobile medical equipment that they would like to track, as well as their current estimated asset-utilization rate and data about the number of assets replaced and rented annually. The tool then applies assumptions based on information from hospitals that have already deployed an RTLS solution.
The calculator enables a hospital executive to estimate the potential annual savings in rental costs. as well as the capital expenditures of replacing equipment, that can be achieved by better managing assets and increasing their utilization rate.
"Hospitals around the world have been deploying RTLS solutions to improve the way they manage assets, and we now have a great deal of information about the financial benefits," says Mark Roberti, RFID Journal's founder and editor. "This calculator now gives hospital executives considering investing in an RTLS the ability to determine the likely benefit, based on the size of their hospital, the assets they own and the amount they spend to rent equipment annually."
How It Works
The calculator is divided into twoworksheets: Executive Summary and AssetWorksheet. The Executive Summary takes the results of information entered on the Asset Worksheet and summarizes the benefits and the costs of an RTLS.
By changing the current utilization rate and the average improvement in asset utilization in the Executive Summaryworksheet, executives can run what-if scenarios. (You can also change the utilization rates for individual assets in the AssetWorksheet.) That is, you can see what happens if an RTLS increases asset utilization by only 10 percent, or by 15 percent.
The “Benefits of Improved Asset Utilizations” section summarizes data from the AssetWorksheet. The accompanying PDF provides an explanation of each section of the AssetWorksheet.