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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.
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Savings Beyond Price -Weekly eNewsletter
- July 19, 2011
 A
Note from Robert T. Yokl,
President and Chief Value Strategist
One thing is for sure, while our Congress wrestles with our
deficit over the next two weeks we still will need to find
new and better ways to solve our own healthcare
organization’s deficit (most hospitals, system and IDNs have
one) so we too can pay all of our bills.
One way to do so is to understand “The Power of Value
Analysis Analytics” vs. benchmarking which is our feature
article this week. I talk about why benchmarks are important
but that they don’t tell the whole story, whereas value
analytics does. I’m sure you will want to read the rest of
the story!
In my blog this week I talk about “How to Streamline, Revise
and Reinvent your Forms Management Program”, so you can save
in the range of $10,135 per occupied bed. Where else can you
get these kinds of savings?
Lastly, we finally posted to our website a new article that
I wrote that was published in HFMA Magazine’s March issue
called “The
Future of Supply Chain Expense Management” that
hopefully you will find of interest. It will give you
insider information on where our industry is going with
their supply chain expense management in this decade and
beyond.
The Power of Value Analysis Analytics
There is a lot of confusion over the terms benchmarks vs. value
analysis analytics. I would like to clarify these terms since
while benchmarks are important they don’t tell the whole story,
while value analysis analytics does.
First off, benchmarks are a standard against something that can
be measure and assessed. They can be used to gauge if you are
obtaining the best price for a commodity you are buying or to
see if your staffing is within acceptable limits. However, the
power of value analysis analytics (The art and science of
measuring trends, patterns, anomalies in your supply streams to
quickly identify chain expense savings opportunities) goes
beyond just one static metric to look at the total cost of
acquisition to disposition of your products, services and
technologies.
For instance, how would you know if your cardiac rhythm or
orthopedic implants were within acceptable cost effective
limits? How would you know that your endomechancials’ total cost
(not price) had spiked by 26% over the last two quarters? Or,
that your Oxisensor’s reprocessing program is costing you money
vs. saving you money as anticipated?
More importantly, by employing value analysis analytics you can
begin to understand the back story on why you have changes in
your trends, patterns or anomalies in your usage patterns on any
category of purchase. Better yet, you can dig and drill down to
the SKU level and then the department level to see what is
happening (the good, the bad and the ugly) with any department’s
purchases.
As I previously stated, benchmarks are important but they won’t
give you the whole story on why your commodity costs are out of
line with your peers. Only through value analysis analytics can
you get the whole picture of the what, who and why you are going
off course.
If you would like to know more about this important topic you
might want to download at -- no cost to you -- our
Healthcare Supply Utilization Revolution book and then read
chapter VII, “ Value Analysis Analytics: The New Science of
Savings”, to get a better idea of what I’m talking about. You
will find that it will open up a whole new world of savings for
you.
Warmest Regards,
Robert T. Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
Bobpres@strategicva.com
1-800-220-4274
Your Partner In
Savings Beyond Price™,
JUST ANNOUNCED -
Breakthrough Game Changing Book is Yours for FREE!
Healthcare Supply Utilization
Revolution
Read this book
and in a few weeks save more money than you have in years. Sounds
unbelievable? Robert T. Yokl and Robert W. Yokl, healthcare’s
leading authorities in Supply Utilization Management, have helped
hundreds of hospitals, healthcare systems and integrated delivery
networks to saved close to a half billion dollars by employing the
same utilization management strategies, tactics and techniques that
they will teach you in this book.
Get Your FREE Copy Here
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RECENT ARTICLES
HFMA (Hospital Financial
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HFMA (Hospital Financial
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The Future of
Supply Chain Expense Management
View Article
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