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LITTLETON, Mass.--(BUSINESS WIRE)--WaveMark, Inc., a provider of real-time inventory management solutions for high value medical products, today introduced a new version of its industry-leading WaveMark CIMS product. Focusing on patient safety, integration with other hospital information systems and high value inventory controls, WaveMark CIMS Fall 2008 brings a new level of visibility and simplicity to healthcare inventory management.

"Over the past year, we've added numerous features, functions and reporting capabilities to our WaveMark CIMS product aimed at helping our customers improve the way they manage their high value and critical supply items," said John Wass, CEO, WaveMark. "Our new version contains several important capabilities aimed at improving patient safety, as well as streamlining the inventory management process. This is one in a series of new product upgrades that we will bring to market, which will continually be focused on perfecting the management of medical inventory while concurrently improving the quality of patient care."

WaveMark CIMS Fall 2008 contains three major enhancements, that help hospital customers concentrate on patient safety while reducing overall operational costs. Each of these new features will be automatically provided to new and existing WaveMark CIMS subscribers at no additional cost.

Access to critical device recall information

The FDA recall module pushes critical device recall information to customers via WaveMark's secure web-based reports, including the exact current location of those products. By pushing this time-sensitive information to users, WaveMark further accelerates the tracking and timely removal of these devices: thereby, improving patient safety while also streamlining clinical workflow.

Seamless integration

In developing the new version of WaveMark CIMS Fall 2008 product, WaveMark proactively established relationships and developed integrations with recognized materials management systems, billing systems and clinical documentation systems in an effort to streamline administrative workflow for clinical staff. As a result, the second enhancement provides customers with automatic connectivity of their critical information. By creating a direct link to billing and materials management systems WaveMark CIMS users can achieve a truly automated requisition process, resulting in less time and greater accuracy in ordering and billing processes, helping to reduce discrepancies and streamline workflow.

Consignment reconciliation

The third major feature, inventory valuation and consignment reconciliation, provides hospitals with a direct line to cost savings. With consignment par tracking, hospital labs now have the ability to compare consigned product par levels against actual on hand amounts and usage patterns for that product in real-time. WaveMark delivers an easier way to compare and evaluate the availability of consigned devices and provides a more streamlined interaction with suppliers resulting in the optimization of consigned par levels.

About WaveMark CIMS
WaveMark CIMS uses RFID cabinets and Point of Service readers to collect information that enables real-time inventory management. By eliminating the manual process of tracking inventory and providing automatic recommendations for replenishing critical supplies, WaveMark CIMS ensures nurses and technicians are able to focus more of their time on other areas of importance-their patients. With WaveMark CIMS, hospitals enjoy optimized inventory levels, better management of product expirations and recalls, and improved charge capture. WaveMark's subscription service model makes this solution accessible to hospitals of any size without the constraint of a capital approval process.

About WaveMark
WaveMark, Inc. is a leading provider of real-time inventory management (RTIM) solutions for high value medical products. WaveMark leverages its proven expertise in Radio Frequency Identification (RFID) and network technology to help healthcare providers and medical device suppliers address key concerns in healthcare including cost containment, patient safety, and regulatory compliance. Committed to a more efficient healthcare supply chain, WaveMark's solutions are available on a subscription basis and eliminate manual processes, reduce costs and streamline workflows for hospitals and suppliers. WaveMark's clinical and field inventory solutions offer product-level visibility and highly effective inventory control, which support regulatory compliance and a rapid return on investment. WaveMark was founded in 2003 and has been deployed in specialty areas such as Cardiovascular Labs, Electrophysiology Labs, Interventional Radiology Suites as well as Operating Rooms.

For more information, please visit www.wavemark.net.

SOURCE: WaveMark, Inc.

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