Yes; GPS, or RFID.

But I doubt that either will be much good when the items are indoors (as they usually will be) ... or in someone's suitcase (or whatever).

GPS needs to "see" the satellites. Yes, trackers are cheap, but are really aimed at trucks and vans etc.

And RFID needs to be within range of the antennae. It may work OK within a (wired) group of hospital buildings; but not much use when kit is "out in the wild", as it were. frown