Ferrate and povidone iodine (PI) composition

A composition and method useful in promoting hemostasis, absorbing ooze, and being antimicrobial with respect to an open wound. The composition broadly includes an antimicrobial agent, preferably povidone iodine, preferably a ferrate compound, and a cation ion exchange resin. This composition will destroy a biofilm which has formed over the open wound in providing a soluble iron compound, a cation chelation compound, and an active antimicrobial compound effective against planktonic microorganisms and biofilms. The antimicrobial agent is locked or sealed within the scab formed over the wound to maintain long-term positioning and anti-dilution of the antimicrobial over the wound.