Enhanced Efficiency and Control in Asset Management
Our user is a leading public hospital in Hong Kong’s Eastern District to transform asset management practices, tackling critical inefficiencies and risks in medical equipment oversight and utilization.
Challenges
The hospital’s original asset management method relied on barcode management, which created substantial challenges. Staff struggled with slow equipment audits, frequent misplacement of assets, and difficulty in locating items for urgent use. Manual tracking made it hard to verify asset status, usage, and ownership, leading to occasional loss, theft, and underutilization of high-value equipment. Routine audits were time-consuming and lacked data accuracy for effective management and maintenance planning.
Solutions
The Million Tech RFID Asset Management System introduced a smarter, faster way to handle hospital assets. Through RFID tagging, staff can now search and identify equipment identify and verify during audits or daily operations. The system connects asset data, user assignments, and in/out movement records links asset data, giving management a clear view of asset usage history, current assignment, and location status.With handheld RFID readers and an integrated dashboard, departments can perform stocktakes, locate critical devices, and update user records more efficiently, as part of a hospital‑wide IoMT (Internet of Medical Things) asset tracking framework.
Values created
In this hospital project, the RFID implementation reduced the reported stocktaking time from approximately 5 days to 4 hours. The reported time required to search for equipment was reduced from around 20 minutes to 1.5 minutes.
The project also reported a reduction in data-entry and verification errors, with asset-record accuracy improving from 75% to 99.9%. Reported incidents involving missing or expired items decreased by 85%.
These outcomes helped hospital staff spend less time on manual asset checks and allowed procurement and management teams to review asset information, stocktaking results and operational exceptions more efficiently.
*The above results are based on this specific project. Actual outcomes may vary depending on asset types, project scope, tag selection, hospital environment, integration requirements and operating procedures.
Further Reading: Healthcare Asset Lifecycle Management
RFID can support more than periodic medical equipment stocktaking. When asset data is connected with equipment usage, movement records, maintenance history and operational analytics, hospitals can progressively build a more complete asset lifecycle management process. For a Chinese-language overview of how RFID and data analytics can support healthcare asset lifecycle management, read:
The RFID Asset Management System from Million Tech empowers Hong Kong hospitals to achieve error-free, real-time asset tracking and location monitoring. This solution uses advanced RFID technology to automate equipment audits, instantly locate items, and manage assets across departments—whether for beds, monitors, surgical tools, or facility resources. The intuitive dashboard provides actionable data, supporting fast resource allocation, robust loss prevention, and seamless compliance. With over 25 years of RFID experience, Million Tech is a trusted provider of hospital asset management innovations that help medical teams save time, reduce human error, and optimize operational efficiency within their IoMT ecosystem.
