All Entries Tagged With: "value analysis"
Changes, Past and Future, In Value Analysis Analytics
We have all heard the phrase, “In God we trust, all others bring data” which is a maxim that was coined by Edward Demming, the father of statistical quality control, to emphasize that if you follow the data it will lead you to the answers to all of your questions about cost, quality, and safety. [...]
4 Things You Should Know About Supply Utilization Management
After 16 years of research, investigations, and hands-on implementation of scores of supply utilization management programs, we have identified four things you should know about supply utilization management: 1. It’s a strategy you can no longer afford to ignore: Price and standardization have been the primary supply chain cost containment strategies for decades. Now that these [...]
3 Surefire Ways to Get Your Stalled or Rejected Value Analysis Projects Approved
How many of your value analysis projects are stalled, stuck or worse yet, are in limbo? My guess is that it could be as high as 23% to 35%, at any given time, representing tens of thousands of dollars in savings not being implemented. To avoid this bottleneck, here are three surefire ways to get [...]
Reducing Waste and Inefficiency Is Everybody’s Job
Everyone in healthcare management is asking this question: Where are our next savings opportunities coming from, now that our revenues are shrinking, volume will be increasing, and quality is job one? This isn’t a new challenge, since other industries have faced this same test and have won this battle. They have done so by driving [...]
4 Tips for Starting and Winning A Savings Conversation with Your Clinicians
I’m sure we would all agree that the biggest obstacle to saving money at your healthcare organization is getting buy-in for your savings proposals from your clinicians (or other staff members). It isn’t easy; sometimes it’s unpleasant and too often your savings ideas are ignored, criticized, and worse yet discarded. To avoid this unproductive experience [...]
Making The Leap Forward To Value Analysis Analytics
At a recent AHRMM’s Executive Thought Leaders Forum, the participants stated that what was needed from supply chain executives as their healthcare organizations move from volume-based to value-based purchasing was, “Improved data tools that will assist supply chain leaders to link cost to critical outcomes and find variations and waste in (products, services) and processes.” [...]
How To Win Arguments With Value Analysis
We all know how many arguments we have lost in the past on our savings proposals and how frustrating it can be when that happens. We also know that we are on the right side of the argument, but we can’t understand why our customers can’t see what is obvious to us. How can we [...]
Comparative Value Analysis Analytics Will Maximize Your Performance
Most healthcare organizations, in some shape or form, are employing value analysis analytics to uncover their hidden supply chain expense savings. Yet, we have found only a few who are using comparative value analysis analytics to benchmark to identify their utilization misalignments in real-time against their peers. Why is this important? Trending, tracking and observing changes [...]
How Are You Selecting Your Value Analysis Team Leaders and Members To Ensure Success?
Are you selecting your value analysis team leaders and members by chance, by their title or by their influence in your organization? If you are, and most hospitals, system and IDNs have been doing this for years, then you are missing an opportunity to have the most motivated, disciplined and creative people on your value [...]
How Important is Price in the Value Equation?
Everyone wants to have the best price on everything that they buy, but how important is price in the value equation? The answer is about 38%. Meaning, even if you have the best prices available on the marketplace, 62% of the value of the products, services, and technology that you are buying is related to [...]
