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 - October 14, 2009
Robert T. Yokl
President & Chief Value Strategist
Small VA Projects can Mean Big Savings
Greetings,
What we are seeing in the healthcare marketplace is that there are fewer and fewer BIG value analysis projects to tackle with double-digit savings. However, there are literally hundreds of small value analysis projects still available to you that can save you $7,000, 13,000 or $23,000 repeatedly representing a whopping 80% of your total savings yield.
To give these statistics some meaning, our studies have shown for every $300,000 value analysis project you implement (usually PPI projects), there are $1.2 million in small incremental value analysis projects just waiting to be attacked. That’s why it is very important for you to have value analysis teams in place to do this mission critical work.
Recent empirical studies have clearly demonstrated that value analysis coordinators, managers and directors working alone can make the big savings happen (20%) for your healthcare organization, but they don’t have the TIME to ferret out the small incremental savings that represent 80% of the achievable savings for your hospital, system or IDN.
That’s why value analysis teams with 8, 10 or 14 members who share their team’s workload can complete up to 10 value analysis projects every 90-days or 40 projects annually. No value analysis practitioner working on their own, no matter how experienced, dedicated or energetic can be as productive as a well organized and motivated value analysis team.
Healthcare organizations who understand “the mathematics of savings” which I just shared with you, are forming even more value analysis teams to maintain their fiscal viability in their marketplace. At the same time, they are reinventing their value analysis coordinators’, managers’ and directors’ jobs so that they can be converted into coaches, trainers and facilitators for their hospitals’, systems’ or IDNs’ value analysis teams.
This change in responsibilities will enable these value analysis professionals to provide assistance to their VA teams to generating even more savings, in less time and with higher total yields. This way EVERYONE carries the workload for value analysis savings at these healthcare organizations, not just a vital valued FEW analysis professionals who are overworked, underpaid and stressed out -- with no relief in sight.
Your Partner In Savings Beyond Price™,
Robert T Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
1-800-220-4274
P.S. If you are looking for a career change you might want to check out our CARREER OPPORTUNITIES section at our website to see if your job skills match our job requirements for our growing value analytics™ practice.
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