Using Technology to Manage Medical Assets and Improve Patient Flow
Studies across the world have shown that, on average, hospitals tend to use less than half of their medical assets at any given time. In addition, hospitals are likely to hold, on average, three times as much inventory as they need.
Technology Trace Inc., developer of the trevii data analytics platform and tracking technology, is pleased to announce a partnership with The Research Institute of St. Joe’s Hamilton to evaluate the application of trevii to improve the utilization of medical assets such as beds and stretchers, and how it could result in more effective resource management and patient flow. The study is funded through OBIO’s Life Science Critical Technologies and Commercialization (LSCTC) Centre of Excellence.
The trevii technology is the world’s first private and secure IoT approach for medical assets. The trevii device attaches to medical equipment and provides real-time visibility of location, utilization and compliance status. Unlike conventional tracking technologies or embedded solutions, trevii operates independently of any particular equipment manufacturer, and tracks the details of medical devices anywhere in North America. The trevii technology provides tracking for equipment such as machines temporarily used in patients’ homes (for dialysis or infusion, for example) and the movement of medical assets shared across multiple care sites (wheelchairs, for example).
This evaluation will measure changes in the tracking, proactive maintenance, and downtime of the hospital’s assets. The data generated by the trevii platform will be used to identify potential monetary savings, enabling better capital purchasing decisions.
“We are so grateful for the ongoing support, trust, and investment of organizations like OBIO and the LSCTC program that help us bring our product trevii to hospitals,” said Michael Becker, Co-Founder and CEO of Technology Trace.
“Hospitals like ours have limited resources and time. The purpose of the evaluation is to demonstrate how the innovative trevii solution tracks medical device assets in real-time and pulls multiple data sources together into a single view to show us the opportunities for saving money and improving access to patient care,” said Donna Johnson, Senior Director, Acute Operations, General Internal Medicine and Emergency Services at St. Joseph’s Healthcare Hamilton. “St. Joe’s fosters a culture of innovation and continuous learning, which serves as a catalyst to improving best practices.”
“OBIO is pleased to support the evaluation of the trevii technology through our provincially-funded Life Sciences Critical Technologies & Commercialization (LSCTC) Centre of Excellence,” said Dr. Maura Campbell, President and CEO of OBIO. “This project with Technology Trace exemplifies how 5G technology can be implemented to improve patient flow through medical assets management.”
Next Steps
The trevii pilot project successfully concluded in Spring 2025.
Over the one-year project, trevii was used to track emergency department electric stretchers and hospital ward beds, delivering a 100 per cent reconciliation rate for assets tracked, with precise location accuracy and a floor-level confidence of 98 per cent.
St. Joe’s will now assess the outcomes as it considers adopting trevii to manage the utilization of some of the Hospital’s medical assets.
About Technology Trace
Technology Trace is a 100% Canadian-owned IoT product and services company, and its flagship product, trevii, is the only boundless asset tracking solution focused on the multi-billion-dollar medical asset management problem, at a fraction of the cost of conventional real-time location system technologies. For more information, please visit www.technologytrace.com.
About OBIO
OBIO, a not-for-profit, membership-based organization dedicated to advancing health technology innovation and commercialization, is prioritizing the evaluation and implementation of new solutions using critical technologies through its Life Sciences Critical Technologies & Commercialization (LSCTC) Centre of Excellence, supported by the Government of Ontario. OBIO is engaged in strategy, programming, policy development and advocacy to further the commercialization of human health technologies, positioning Canada as a leader in the international marketplace. For more information, please visit www.obio.ca.