10.08.13
Medical device tracking isn’t just a luxury. It’s a necessity in today's hyper-regulated market. The long-awaited rule recently published by the U.S. Food and Drug Administration outlining industry requirements for the Unique Device Identifier system is proof of that. Companies such as Medical Tracking Solutions Inc. are getting out in front of the issue to help medical device companies with the technology and logistics of inventory tracking.
Medical Tracking Solutions Inc., which makes technology called iTraycer, recently added orthopedic company Spine Wave Inc. to its client roster. Shelton. Conn.-based Spine Wave is a privately held medical device company focused on—as the company’s name implies—implant technology for the treatment of spinal disorders.
“We are very excited to be implementing the iTraycer product at Spine Wave,” said Mark LoGuidice, CEO of Spine Wave. “We anticipate benefits of added visibility and control of our assets, in addition to improved efficiency in our order to cash process. We think it will be an important element of our ability to scale operations to support our future growth and disciplined focus on margin improvement.”
According to Medical Tracking Solutions, its iTraycer product provides a medical device-focused inventory management system that will allow Spine Wave to track individual units within a part, to a tray, and into a kit. It provides the Spine Wave sales team mobile access to their inventory as well as the ability to remotely request replenishment, additional products and loaner kits. It also lets the sales team invoice at the point of use, saving time and reducing the opportunities for missing sales transactions.
“We are thrilled to have the opportunity to work with such a dynamic and exciting company,” said Stephen Bradley, CEO of Jacksonville, Fla.-based Medical Tracking Solutions. "Spine Wave represents the exact type of company we created iTraycer to help. One that is growing, trying to operate efficiently, and wants to use innovation to maximize their inventory usage.”
Medical Tracking Solutions was established by a team of industry professionals with expertise in the areas of medical device sales, distribution, logistics, loaner kit processing and software development. The MTS’ understanding of the medical industry’s challenges and the critical need for solving the many problems associated with field inventory, multi-level bill of material tracking, and mobile inventory, is what prompted the development of the company’s first product, iTraycer.
iTraycer is a comprehensive inventory management system that assists medical device and biologic companies, and their distributors, in better managing the challenges of field inventory. iTraycer uses a customized SaaS Web Suite, a GMP-compliant receiver manager, and an intuitive mobile application, according to the company. It is available as an iPhone application that can also be used with iPad or iTouch, and Android, Pocket PC and Blackberry versions coming soon. The iTraycer platform is designed to provide real-time visibility of each field inventory transaction improving sales efficiency and engagement, increasing operational efficiencies while reducing costs with improved cash flow. According to the folks at Medical Tracking Solutions, this can result in a 2-4 percent improvement in operating income.
During the upcoming 28th annual meeting of the North American Spine Society in New Orleans, La. (Oct. 9-12), Spine Wave will be exhibiting at booth 1041.
Medical Tracking Solutions Inc., which makes technology called iTraycer, recently added orthopedic company Spine Wave Inc. to its client roster. Shelton. Conn.-based Spine Wave is a privately held medical device company focused on—as the company’s name implies—implant technology for the treatment of spinal disorders.
“We are very excited to be implementing the iTraycer product at Spine Wave,” said Mark LoGuidice, CEO of Spine Wave. “We anticipate benefits of added visibility and control of our assets, in addition to improved efficiency in our order to cash process. We think it will be an important element of our ability to scale operations to support our future growth and disciplined focus on margin improvement.”
According to Medical Tracking Solutions, its iTraycer product provides a medical device-focused inventory management system that will allow Spine Wave to track individual units within a part, to a tray, and into a kit. It provides the Spine Wave sales team mobile access to their inventory as well as the ability to remotely request replenishment, additional products and loaner kits. It also lets the sales team invoice at the point of use, saving time and reducing the opportunities for missing sales transactions.
“We are thrilled to have the opportunity to work with such a dynamic and exciting company,” said Stephen Bradley, CEO of Jacksonville, Fla.-based Medical Tracking Solutions. "Spine Wave represents the exact type of company we created iTraycer to help. One that is growing, trying to operate efficiently, and wants to use innovation to maximize their inventory usage.”
Medical Tracking Solutions was established by a team of industry professionals with expertise in the areas of medical device sales, distribution, logistics, loaner kit processing and software development. The MTS’ understanding of the medical industry’s challenges and the critical need for solving the many problems associated with field inventory, multi-level bill of material tracking, and mobile inventory, is what prompted the development of the company’s first product, iTraycer.
iTraycer is a comprehensive inventory management system that assists medical device and biologic companies, and their distributors, in better managing the challenges of field inventory. iTraycer uses a customized SaaS Web Suite, a GMP-compliant receiver manager, and an intuitive mobile application, according to the company. It is available as an iPhone application that can also be used with iPad or iTouch, and Android, Pocket PC and Blackberry versions coming soon. The iTraycer platform is designed to provide real-time visibility of each field inventory transaction improving sales efficiency and engagement, increasing operational efficiencies while reducing costs with improved cash flow. According to the folks at Medical Tracking Solutions, this can result in a 2-4 percent improvement in operating income.
During the upcoming 28th annual meeting of the North American Spine Society in New Orleans, La. (Oct. 9-12), Spine Wave will be exhibiting at booth 1041.