Frost & Sullivan Commends Impinj for Aiding Healthcare Providers' Asset Tracking Efforts with its Novel RAIN RFID-based Solution
Impinj's holistic solution streamlines the supply chain of healthcare delivery organizations and greatly optimizes their asset and labor utilization
June 27, 2017 - SANTA CLARA, CA
Based on its recent analysis of the radio-frequency identification (RFID) healthcare solutions market, Frost & Sullivan recognizes Impinj, Inc. with the 2017 North American Award for Customer Value Leadership. Impinj delivers a range of solutions for passive asset and item tracking using RAIN RFID, a form of wireless communication that employs the global ultra high frequency (UHF) RFID protocol developed by GS1 and ISO. By offering end-to-end RAIN RFID solutions, from tags to management software, Impinj gives healthcare providers new levels of insights into asset and personnel tracking.
"Impinj enables a versatile line of asset and supply management solutions for applications across industry verticals, from retail to food and beverage, as well as pharmaceuticals and healthcare,” said Frost & Sullivan Industry Principal, Dilip Sarangan. "In healthcare deployments, the Impinj RAIN RFID platform differentiates itself with its lower costs, expanded capabilities, and a holistic approach to asset tracking."
Unlike traditional, by-hand asset and supply tracking systems that are extremely inefficient, labor dependent, have limited applications, and active RFID systems that cost approximately $40 to $50 per tag, the Impinj system has broken the “sub 10 cents” per tag barrier. At the same time, the solution can scale up for the largest healthcare delivery organizations (HDOs) and is highly versatile, finding application even in consumables inventory. It requires no batteries or external power source, has low maintenance and staffing requirements, and boasts a long shelf life, making it greatly superior to legacy solutions.
Impinj’s unique integrated platform approach to RFID technology results in a three-layered platform that effortlessly combines RAIN RFID tag chips, gateways/readers, and software to form a wholesome solution to increase performance and ease use. With this streamlined system, the tagged chips with the data and the information about the object stored inside function seamlessly with the reader systems. They feed into the software layer and aggregate the data from readers across the organization to offer a single point of interface and tracking for all systems.
As HDOs increasingly automate their supply chains, there will be more opportunities for RAIN RFID applications to improve efficiencies and lower costs. By enhancing supply chains, RAIN RFID also smoothes over the pain points created by regulations mandating supply chain security, especially when healthcare providers have to cope with personnel and fund shortages.
"As HealthCare providers and pharmaceutical distributors fall under greater degrees of scrutiny by regulators, barcode-based automation cannot scale up to reach the economies of scale required, especially for larger organizations," noted Sarangan. "Impinj's RAIN RFID solutions can manage supply chains containing innumerable items and assets, at a fraction of the cost, without interruption. The solutions reach further back down the supply chain as hospitals, distributors, and partners all require a unified protocol for item management."
Impinj evolved from its role as a mere component company transforming into a complete solution and platform provider. This growth enables it to collaborate with third-party software applications and encourages software companies and device and asset producers to partner with it to enter the passive automation space.
Impinj has consistently stayed at the forefront of technology innovation for 16 years. Overall, its emphasis on innovation and customer centricity ensured its continued success and high brand equity across industries.
Each year, Frost & Sullivan presents this award to the company that demonstrates excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on the investment that customers make in its services or products. The award recognizes the company's inordinate focus on enhancing the value that its customers receive, beyond simply good customer service, leading to improved customer retention, and ultimately customer base expansion.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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Impinj, Inc. (NASDAQ: PI) wirelessly connects billions of everyday items such as apparel, medical supplies, automobile parts, luggage and food to consumer and business applications such as inventory management, patient safety, asset tracking and item authentication. The Impinj platform uses RAIN RFID to deliver timely information about these items to the digital world, thereby enabling the Internet of Things.
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