Savings Beyond Price™
Innovative Supply Savings and Quality Solutions That Work
by Strategic Value Analysis® in Healthcare
Did You Know...?
That Value Analysis Was Developed Back In the 1940's After World War II as a Way to Find Lower Cost but Higher Quality Alternative products and methods. This was Due to the Lack of Material Resources At The End of The War.
Savings Beyond Price -Weekly eNewsletter - August 12, 2009
Robert T. Yokl
President & Chief Value Strategist
Four Smart Strategies for Tough Times
Greetings,
I don’t need to remind you that we are experiencing tough times that have dramatically changed our business and personal lives…forever. The question I have for you is what are you and your colleagues doing about it?
Based on my conversations with literally hundreds of supply chain professionals over the past 12 months here are four smart strategies for tough times that are emerging from this crisis:
1. Joint Ventures are being employed by hospitals to purchase drugs, linens, oil, gas, etc. that don’t fit into their GPOs portfolios. For example, one of our IDN clients purchases all of their affiliate hospital’s manufacturer direct drugs for them to receive deep discounts, and then reships them out to their affiliates. Millions of dollars a year are saved by this tactic!
2. Shared Service Centers are popping up around the country (some sponsored by GPOs) to gain greater economy of scale for their shareholders that couldn’t be achieved by these hospitals if they continued to operate their support services separately. Some of the services provided by these shared service centers are: Central warehouse, centralized distribution, records management, print shop, pharmacy packaging, custom pack manufacturing, food cook and chill, BioMed Services and central laundry.
3. Regional GPOs are either being formed, reconstituted or re-energized by national GPOs or regional alliances to squeeze the last dollars out of supply expenses because of their committed volume philosophy. If you are not a member of one, you should be.
4. Utilization Management is on the radar screen of more and more healthcare organizations because they realize that their price savings are slowly disappearing. Healthcare organizations have documented that the typical savings that is realized by addressing these unneeded and unnecessary costs is 7% to 15% on their total supply spend. Where else can you achieve these kinds of new and better substantial savings?
These and other similar tactics to gain greater economy in this recession should be on your goal list for this year. These tactics can put a big dent in your supply chain expenses. More importantly, they can move you in the right direction for saving even more than ever.
Your Partner In Savings Beyond Price™,
Robert T Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
1-800-220-4274
P.S. I thought I would give you some advance notice that we will be introducing our new “Certified Value Analysis Practitioner™ Training Program On Line” within the next two weeks. Our goal with this new program is to make it as easy, painless and as cost effective as possible (no travel required, just access to a PC and internet) for you to obtain the requisite value analysis training you have been asking us to produce for years. I hope you will agree that the timing is right for this program!
***Just Released***
Free Special Report
Supply Chain Utilization
Targeting your next big savings opportunities
"Could a misalignment that comes with a simple (and less costly) fix be eating away at your savings?"
"Beware of Standardization"
"Managing utilization costs can save six to 10 percent on total supply expenditures"
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