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 - July 8, 2009
Robert T. Yokl
President & Chief Value Strategist
Waste Nothing – Recycle Everything!
Greetings,
One of the greatest opportunities for saving money in any healthcare organization of any size is and will be to turn waste into savings. You might not realize it but our nations’ hospitals generate 6,600 tons of waste per day at a cost of $48 to $68 dollars per ton.
These figures calculate to millions of dollars a year of your hospital’s money being burned, dumped or otherwise wasted that creates NO VALUE in and of itself. In fact, it destroys value!
On the flip side of the coin, waste reduction and recycling programs actually create value (50% to 70%) where none was visible before by reusing, reducing or recycling everything that is feasible and safe to do so.
Only a few hospitals have TOTALLY embraced this cost management strategy of wasting nothing and recycling everything in order to reduce specific supply categories (e.g. compression sleeves, Oxisensors, drill bits, BP cuffs, trocars, trays, packs, etc.) by 50% or more.
Case Study! I just sat in on a meeting where a client’s management team was discussing recycling their Oxisensors. The hospital’s MM shared his frustration about not being able to get his hospital’s clinicians to agree to this best practice because of perceived legal issues in doing so. That’s when the CEO of this hospital made the decision that if recycling their Oxisensors or any other product is feasible, reliable and medically safe then they would implement this at his hospital. This was the end of the discussion and the end of this controversy – forevermore.
The lesson to be learned here is that if you want to waste nothing and recycle everything in your hospital that is feasible and safe you must have your executive management team’s support to do so. The best way I know to do so is to develop and then present a comprehensive Waste Management Program to your executive management team for their approval as opposed to making piecemeal changes. Otherwise, you will fight this same battle over and over again.
Your Partner In Savings Beyond Price™,
Robert T Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
1-800-220-4274
P.S. Announcing our two-day on-site advance value analysis training program to move your value analysis teams to the next level of savings performance. This is one of the “must-have” skills I was talking about!
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