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 26, 2009
Robert T. Yokl
President & Chief Value Strategist
Supply Chain Performance Matters
Greetings,
Thomas Dolan, President of the American College of Healthcare Executives says that in healthcare today “Everything is important. We are in that era right now around the financing of our (hospital) operations. Now we realize that (supply chain) is an important source of savings”.
These supply chain savings are needed, not only to generate a healthy bottom line for your hospital every year; they are now desperately required to help finance your hospital’s capital budget well into the next decade.
Michelle Ponte writes in an article for Health Leaders Magazine that “easy credit and low interest rates are gone and will stay gone for the foreseeable future, highlighting the need for new financing strategies”.
That’s why improving your hospital’s bottom line and finding even more savings than ever before to finance new capital expenditures will be more dependent on supply chain professional’s performance.
Heretofore, supply chain managers were content with their GPO price savings every year to keep their boat afloat, but those days are over. “Cash must be squeezed from every part of a hospital’s operation” says Ponte. Hospitals must zero in on their supply chain expenses like never before. This means you will need to go DEEPER and BROADER into your supply chain for new and better savings.
One of our clients has been doing just this for years, because their hospital’s financial strength has been weak for a decade. This client’s supply chain manager told me just last week that his supply chain department saved $3.7 million in fiscal year 2009. And he had already targeted a few more million dollars in supply chain reductions for fiscal 2010 to keep this momentum going because he knows his executive management is depending on these savings to balance their 2010 budget. This supply chain professional surely understands the fact that his “Supply Chain Performance Matters”.
I’m sure you get the picture by now that even when this recession is over your hospital’s financing options will be limited. Your CEO and CFO will need your supply chain skills to keep savings flowing to their bottom line and capital budget. That’s why everything you can do to improve your supply chain performance is…IMPORTANT!
Your Partner In Savings Beyond Price™,
Robert T Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
1-800-220-4274
P.S. New and better performance “begins and ends with training”, so you might want to consider our “Advanced 2-Day Value Analysis Training” Program to move your Value Analysis Teams to the next level of performance.
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