The 17 Best Medical Inventory Management Software Of 2024
10 Best Medical Inventory Management Software Shortlist
Here's my pick of the 10 best software from the 17 tools reviewed.
Our one-on-one guidance will help you find the perfect fit.
As a seasoned professional in medicine and technology, I understand that managing inventory in a healthcare setting can seem like walking a tightrope. The stakes are high, and maintaining the right balance is critical. That's why I've compiled this list of the 12 best medical inventory management software options for you.
These tools not only ensure that your supplies, medications, and equipment are efficiently managed and tracked but also seamlessly integrate with other healthcare systems, offering comprehensive solutions.
They tackle your main concerns, such as waste reduction, improved procurement processes, and better management of complex stocks. Trust me, I've walked in your shoes, and I know that these software options can significantly streamline your operations and increase profitability. Take a moment to check out these solutions; they might just be the answer to your inventory management challenges.
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What Is Medical Inventory Management Software?
Medical inventory management software is a specialized tool used predominantly by healthcare organizations and facilities, including hospitals, clinics, and nursing homes. It serves as a digital ledger for keeping track of all medical supplies, from medications to surgical tools, and consumables to high-value medical equipment.
The primary purpose of such software is to maintain an optimal balance of stock - ensuring that supplies are always available when needed while preventing stockouts, overstocking, and associated wastage.
Besides the basic inventory tracking, these sophisticated software solutions often incorporate features such as procurement management, supply chain coordination, and integration with other healthcare systems, enhancing the efficiency and accuracy of operations in these critical environments. Users typically range from hospital administrators to nursing staff, with the goal of providing seamless patient care.
Best Medical Inventory Management Software Summary
| Tools | Price | |
|---|---|---|
| Finale Inventory | From $99/month (billed annually) | Website |
| eLabInventory | From $15/user/month (billed annually) | Website |
| Bellwether Purchasing Software | From $30/user/month (billed annually) | Website |
| ArbiMed Inventory | From $59/user/month | Website |
| Flowtrac | From $60/user/month | Website |
| Prys Accounting | From $25/user/month | Website |
| SurgiCare Medical Inventory | From $45/user/month (billed annually) | Website |
| Hybrent | From $200/user/month | Website |
| E-clinic Systems | From $50/user/month | Website |
| MedSupply | From $49/user/month | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareBest Medical Inventory Management Software Reviews
Best for complex stock management in larger facilities
Finale Inventory specializes in delivering advanced inventory solutions, catering particularly to larger facilities with complex stock management needs. Its comprehensive feature set aids in maintaining a balance in large-scale stock, underscoring why it's best for complex stock management in larger facilities.
Why I Picked Finale Inventory:
I selected Finale Inventory for its proficiency in managing larger and more complex inventories. It has a scalability factor that other tools don't often match, which makes it an excellent fit for larger facilities. My judgment led me to Finale Inventory as the best for managing complex inventories in expansive healthcare environments.
What do you get for free?
Finale Inventory offers a 14-day free trial to try out their software. This limited period allows users to explore their features before making a purchasing decision. However, for sustained usage, users will have to subscribe to a paid plan.
Standout features and integrations:
Finale Inventory offers extensive features, including batch tracking, advanced reporting, order management, inventory optimization, and robust inventory replenishment forecasting. Moreover, it integrates seamlessly with popular eCommerce platforms (eTurns TrackStock), accounting software, and shipping platforms for a holistic inventory management experience.
Pros and cons
Pros:
- Smooth integrations with other platforms
- Advanced reporting for deep insights
- Suitable for complex, large-scale inventories
Cons:
- Initial setup can be complex
- Pricing can get steep for extensive feature sets
- No permanent free plan, only a 14-day trial
eLabInventory provides a robust solution for managing inventory in laboratories. This software, designed with the intricate needs of labs in mind, streamlines the process of inventory tracking and management, living up to its reputation for comprehensive laboratory management.
Why I Picked eLabInventory:
In my quest for the best medical inventory management tools, eLabInventory stood out due to its specialization in laboratory management. This focus makes it different and uniquely equipped to handle the complex needs of laboratory environments. I chose eLabInventory as it simplifies and organizes inventory management, and it's a leader in managing diverse lab supplies, making it the best choice for comprehensive laboratory management.
What do you get for free?
eLabInventory offers a 30-day free trial. This trial period allows users to familiarize themselves with the software's interface and features. However, it's worth noting that continuous usage requires a subscription to one of their paid plans.
Standout features and integrations:
eLabInventory offers a host of features like barcode scanning, audit trails, flexible add-ons, and advanced search functions. It also enables users to maintain electronic lab notebooks. Regarding integrations, it pairs well with a range of laboratory equipment and provides API access, allowing you to integrate it with other existing systems in your lab.
Pros and cons
Pros:
- Offers API for custom integrations
- Advanced search functions and audit trails
- Specialized for laboratory management
Cons:
- Pricing can increase with add-ons and services
- The interface may require a learning curve
- No permanent free plan, only a 30-day trial
Bellwether Purchasing Software provides solutions that streamline procurement procedures. This software is designed to automate various procurement processes, making it efficient for organizations that require an automated system for their purchasing functions.
Why I Picked Bellwether Purchasing Software:
In choosing tools for this list, I was particularly drawn to Bellwether for its focus on procurement automation. What sets Bellwether apart from others is its range of features specifically aimed at simplifying procurement tasks. This functionality led me to select it as the best tool for automating procurement processes.
What do you get for free?
Bellwether offers a free version of its software with limited functionality. This allows users to experience the tool's capabilities on a smaller scale. However, key automation features are only available in the paid plans.
Standout features and integrations:
Bellwether is equipped with several valuable features, such as automated purchasing, inventory control, and Requisition-to-PO conversion. Furthermore, it integrates well with accounting software like QuickBooks, which greatly streamlines the procurement process.
Pros and cons
Pros:
- Focus on procurement automation
- Integrates well with accounting software
- Offers a free version with limited functionality
Cons:
- Full feature set requires more expensive plans
- Pricing may be high for smaller organizations
- Complete automation features only in paid plans
ArbiMed Inventory is a tool that optimizes inventory control in healthcare settings, aiming to curtail unnecessary waste. By focusing on usage trends and procurement practices, it aligns perfectly with its reputation as the best for reducing wastage in medical supplies.
Why I Picked ArbiMed Inventory:
I selected ArbiMed Inventory due to its unique strength in minimizing waste. This aspect distinguishes it from many other tools, as not all prioritize this cost-saving element. Its design caters to the efficient management of supplies, reducing overstock and subsequent waste. Therefore, for institutions aiming to cut costs through better inventory control, ArbiMed Inventory is, in my opinion, the best choice.
What do you get for free?
ArbiMed Inventory provides a demo on request, which gives potential users an insight into how the software works. However, continuous use of the software requires a subscription to a paid plan.
Standout features and integrations:
ArbiMed Inventory shines with features such as predictive analytics, barcode scanning, and automatic reordering. Moreover, it supports integrations with a variety of accounting systems, EHRs, and barcode scanners for streamlined workflows.
Pros and cons
Pros:
- Variety of integrations for smoother operations
- Predictive analytics for effective stock management
- Robust features for waste reduction
Cons:
- The interface may not be the most intuitive, especially for non-tech users
- The pricing might be on the higher side for smaller institutions
- No free plan, only a demo on request
Flowtrac is a cloud-based and on-premise warehouse management solution for inventory management, focusing on tracking and managing inventory items with full mobile device compatibility. It ensures efficient inventory and asset tracking from any location, using any device, making it ideal for businesses that require mobile access to their medical inventory system.
Why I Picked Flowtrac:
I selected Flowtrac for its superior mobile device compatibility, which distinguishes it from many other inventory management tools. Its capability to manage inventory from any location using a mobile device offers great flexibility, especially for businesses with remote operations or multiple stockrooms. I believe it's the best tool for businesses that require accessible, mobile-friendly inventory management.
What do you get for free?
Flowtrac does not offer a free plan, but they do provide a free demo on request, enabling users to explore the tool and its features before making a purchasing decision.
Standout features and integrations:
Flowtrac's mobile compatibility stands out, offering features like real-time track inventory, asset management, remote access, Qr code, and barcode scanning via mobile devices (Android/iOS). In terms of integrations, Flowtrac works well with popular platforms like QuickBooks and Microsoft Dynamics, facilitating a synchronized and efficient workflow.
Pros and cons
Pros:
- Seamless integration with popular platforms like QuickBooks and Microsoft Dynamics
- Real-time tracking features
- Robust mobile device compatibility
Cons:
- Mobile interface might not be as extensive as the desktop version
- Pricing can be higher with advanced features
- Does not offer a free plan
Prys Accounting is a platform that offers a cohesive blend of accounting and inventory management functionalities. This unique integration of features makes it an exceptional tool for businesses that require a streamlined approach to both these critical aspects.
Why I Picked Prys Accounting:
I picked Prys Accounting for its seamless combination of inventory management and accounting solutions. Its integrated feature set reduces the need for multiple tools, making it a standout choice in the market. This dual focus makes it the best choice for businesses seeking synergy between their accounting and inventory management.
What do you get for free?
Prys Accounting offers a limited free version that provides basic accounting and inventory management tools. However, the free version comes with restrictions on the number of transactions and inventory items, prompting the need for a paid plan for more extensive usage.
Standout features and integrations:
Prys Accounting has robust accounting tools such as invoicing, financial reporting, and tax management. Its inventory management features include product tracking, supplier management, and demand forecasting. For integrations, it supports many popular e-commerce platforms, POS systems, and other business tools, thereby facilitating business operations.
Pros and cons
Pros:
- Basic free version available
- Supports integrations with popular business platforms
- Combination of accounting and inventory management tools
Cons:
- Might not be suited for businesses seeking specialized tools.
- More advanced features are at higher pricing tiers
- Free version has limitations
SurgiCare Medical Inventory is an inventory management solution designed specifically for the healthcare sector. It allows for efficient management of surgical inventory, making it particularly useful for perioperative inventory management.
Why I Picked SurgiCare Medical Inventory:
I chose SurgiCare Medical Inventory for its specific focus on perioperative inventory management. The software stands out for its detailed surgical tracking capabilities and intuitive user interface. I found that it fills a niche in the market for perioperative inventory management, hence my decision to include it in this list.
What do you get for free?
SurgiCare offers a free trial of their software which allows you to evaluate its features and compatibility with your organization. However, full access to all features requires a subscription to one of their paid plans.
Standout features and integrations:
SurgiCare is equipped with specialized tools for surgical inventory tracking, expiration management, and customizable reporting. Moreover, it offers integrations with several popular EHR (Electronic Health Record) systems, making it more convenient for healthcare institutions to streamline their processes.
Pros and cons
Pros:
- Free trial available
- Integration with popular EHR systems
- Specialized for perioperative inventory management
Cons:
- Specific focus may limit broader usability
- Higher tiers can be expensive
- Full access requires a subscription
Hybrent is a comprehensive cloud-based solution geared towards order and supply chain management. It provides functionalities that simplify, automates, and enhance the entire process from procurement to delivery, making it highly suitable for streamlining order and supply chain management.
Why I Picked Hybrent:
I selected Hybrent because it offers a blend of features that are vital for the comprehensive supply chain management. The tool stood out to me due to its ability to manage multiple aspects of the supply chain within a single interface. Its focus on streamlining order and supply chain management is what makes it an ideal choice for small businesses looking for efficiency in these areas.
What do you get for free?
Hybrent does not offer a free version of its software. However, they do provide a free demo upon request, which allows you to explore and understand the functionalities of the tool.
Standout features and integrations:
Hybrent comes with an array of features, including procurement, inventory management, and reporting. These features facilitate a comprehensive understanding and efficient management of the supply chain. The tool also integrates well with various ERPs, facilitating smooth data flow and ensuring all systems are in sync.
Pros and cons
Pros:
- Streamlines the entire supply chain process
- Integrates well with various ERPs
- Comprehensive supply chain management solution
Cons:
- Some features require a higher-priced plan
- The starting price may be high for smaller businesses
- Does not offer a free version
E-clinic Systems is a comprehensive medical inventory software tool with a focus on integrating electronic medical records. It not only manages inventory but also connects seamlessly with patient data, making it ideal for healthcare settings that need to streamline their EMR and inventory processes.
Why I Picked E-clinic Systems:
I chose E-clinic Systems because of its specialized focus on healthcare inventory management and its robust integration with electronic medical records. Its distinct advantage lies in its ability to link inventory items with specific patient records, a feature that sets it apart from other inventory tools. The tool's capacity for electronic medical record (EMR) integration is why I believe it's best suited for healthcare providers looking to streamline and centralize their patient and inventory data.
What do you get for free?
E-clinic Systems does not offer a free version of the software. However, they do provide a free demo that allows potential users to evaluate the platform and its capabilities before purchasing.
Standout features and integrations:
One of E-clinic Systems' most beneficial features is its ability to link inventory with specific patient records. This unique feature streamlines patient care and improves inventory accuracy. Moreover, the tool integrates well with popular electronic medical records systems, creating a more efficient workflow.
Pros and cons
Pros:
- The unique feature of linking inventory to specific patient records
- Robust integration with electronic medical records
- Specialized focus on healthcare inventory management
Cons:
- May require a learning curve for those unfamiliar with EMR integration
- The pricing may increase with additional features
- Does not offer a free version of the software
MedSupply is a specialized inventory management system built for the healthcare industry. It brings clarity to medical supply tracking with its user-friendly dashboards, making it an ideal choice for those prioritizing intuitive supply visibility.
Why I Picked MedSupply:
I selected MedSupply because of its user-friendly approach to managing medical inventory. Its standout quality is the highly intuitive dashboard that simplifies tracking and managing supplies. This focus on a clean, easy-to-understand interface led me to choose MedSupply as the best for tracking medical supplies with intuitive dashboards.
What do you get for free?
MedSupply offers a free 14-day trial, giving users full access to its features for a limited time. Once the trial period ends, however, a paid subscription is required.
Standout features and integrations:
MedSupply comes equipped with serial numbers and lot tracking, expiration date alerts, over-the-counter point of sale and sales order modules, and extensive reporting capabilities. It also provides a seamless integration with popular accounting software, Saas platform, and electronic health record (EHR) systems for an all-around inventory solution.
Pros and cons
Pros:
- Extensive reporting capabilities
- Strong integrations with accounting software and EHR systems
- User-friendly dashboards for easy tracking
Cons:
- Minimum of 5 seats required, potentially making it costly for small teams
- Annual billing might be a turn-off for some users
- No free plan available
Other Medical Inventory Management Software
Below is a list of additional medical inventory management software I shortlisted but did not make it to the top 10. Definitely worth checking them out.
- WebOps Logistics
Best for real-time surgical case communication
- ERPAG
Best for seamless ERP integration in healthcare inventory management
- inFlow Inventory
Good for detailed inventory control with batch and location tracking
- Sortly
Good for visual inventory tracking with photo tagging
- LogiTag
Good for RFID-based healthcare supply chain management
- Fishbowl Inventory
Good for integrating with QuickBooks for financial management
- Brightree
Good for cloud-based inventory management in the home healthcare sector
Selection Criteria For Medical Inventory Management Software
Choosing the right medical inventory management software is not a simple task. I've personally evaluated dozens of these tools, prioritizing those with specific functionality crucial to healthcare facilities. These are my chosen criteria to look for when selecting the best fit:
Core Functionality
- Accurate Inventory Tracking: The software should enable precise tracking of medical supplies and devices, showing real-time data about stock levels.
- Expiry Date Management: A critical function in healthcare, the tool should help track and manage expiry dates to ensure all stock supplies are safe to use.
- Integration with Electronic Health Records: The tool should be able to integrate with EHR systems, thereby providing seamless access to patients' medical histories.
Key Features
- Advanced Search Capabilities: The ability to search inventory by various parameters (such as item name, batch number, location, etc.) quickly and accurately.
- Barcode or RFID Scanning: For rapid and precise inventory management, the software should support Qr Code, barcode or RFID scanning.
- Real-time Alerts: It's essential for the tool to provide real-time alerts when stock levels are low or near expiry, preventing potential crises.
- Vendor Management: The software should provide the functionality to manage distributor and vendor relationships, streamlining reordering processes.
Usability
- Intuitive Interface: For a tool that's used daily, it's important to have a simple, easy-to-navigate interface that can be used by staff at all levels.
- Comprehensive Reporting: The tool should offer in-depth reporting and analysis to assist in informed decision-making about inventory management.
- Reliable Customer Support: Given the critical nature of healthcare, it's important that the tool offers timely and efficient customer support in case of issues.
- Accessibility: Considering the round-the-clock operations of healthcare facilities, the tool should be accessible via multiple devices, including mobile, for on-the-go inventory management.
Most Common Questions Regarding Medical Inventory Management Software (FAQs)
What are the benefits of using medical inventory management software?
Medical inventory management software offers several benefits:
- Efficiency: Automates manual inventory tasks, reducing time spent on managing supplies.
- Accuracy: Minimizes errors that can occur in manual inventory management, ensuring precise stock counts.
- Cost Savings: Helps prevent overstocking and understocking, saving costs associated with wastage or urgent reordering.
- Compliance: Assists in maintaining compliance with regulations through better record-keeping and tracking.
- Improved Patient Care: By ensuring needed supplies are always available, it helps healthcare facilities provide better care to their patients.
How much do these tools typically cost?
The cost of medical inventory management software can vary greatly depending on the size of the healthcare facility, the complexity of the inventory, and the specific features required. Pricing models are often subscription-based, charged per user per month.
What are the typical pricing models for these tools?
Most medical inventory management software providers use a subscription pricing model, which can be billed monthly or annually. There may be different tiers of subscriptions, each offering a different set of features.
What is the typical range of pricing for these tools?
Prices can range from as low as $20 per user per month for basic versions to over $100 per user per month for more advanced features and larger healthcare facilities.
Which are the cheapest and most expensive software?
Sortly and LogiTag are some of the more affordable options, with basic plans starting from $20-$30 per user per month. On the higher end, Brightree and Fishbowl Inventory offer comprehensive solutions which can go beyond $100 per user per month.
Are there any free tool options available?
While most of these tools do not offer entirely free plans, many offer free trials. inFlow Inventory, for instance, provides a 14-day free trial, allowing you to test the software before committing to a paid plan.
Other Medical Inventory Management Software Reviews
Summary
In conclusion, selecting the best medical inventory software requires a thorough understanding of your healthcare facility's needs. A tool's suitability doesn't depend on the number of features it offers but on how well those features align with your specific requirements.
The main points to remember include:
- Core Functionality: Ensure the software supports essential tasks, such as tracking and updating inventory levels, generating reports, and notifying low stock levels.
- Key Features: Look for essential features such as integration with electronic health records, barcode scanning, and mobile app device compatibility. These can significantly improve the effectiveness and efficiency of your inventory management.
- Usability: The software should be user-friendly, intuitive, and easy to learn. Adequate customer support and training resources are valuable to assist users in navigating through the system.
With these insights, you are better equipped to navigate the process of choosing a medical inventory management software that best suits your facility's needs, ultimately improving operational efficiency and patient care.
What Do You Think?
Your insights and experiences are highly valuable to us. If there's a medical inventory management software you've found effective and believe deserves a place on this list, please let us know. We appreciate your feedback and are always open to updating our guide with the best tools available.