Is Value Analysis A Numbers Game? Let’s Do the Math!
The mindset is simple; Fast and Efficient Studies = Fast Savings to our hospital’s Bottom Line. Fast and Efficient Studies = more studies being completed which create the multiplier of savings hitting your hospital’s Bottom Line! Is Value Analysis a numbers game? The answer is yes, value analysis is a numbers game. The more studies you can get completed with equal or better results the more new studies you can work on and add to your hospital’s bottom line savings in these tough times. Here are two case studies to help understand this concept:
- Average 100 Bed Hospital “A” Performs 15 to 20 VA Studies in a year and Saves $320,000 – not bad right?
- Average 100 Bed Hospital “B” Performs 30 to 40 VA Studies a Year and Saves $1.25 Million – this is what we need in this trouble economy, bigger dollars and more savings. However, it can only be accomplished by performing more studies.
Hospital “B” was able to complete more studies in less time and therefore attain bigger and better bottom line results faster. How did they make this happen? By having more teams, more team members and more projects that they completed within 90-days. It all about the numbers that makes savings happen faster and more efficiently than you ever thought possible.
Remember, you can do this too if you have the right numbers!
P.S. I forgot to mention that the Bellwether League is looking for nominations for their Supply Chain Hall of Fame for 2009. If you have a supply chain professional (active or retired) you would like to nominate for this prestige’s award please log on to www.bellwetherleague.org to do so.
