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 - February 11, 2010
Robert T. Yokl
President & Chief Value Strategist
What it Takes to Get Better Supply Chain Savings Performance
Greeting,
I have found that the most mature, effective and performance driven supply chain organizations have one “secret weapon” that drives their superior savings outcomes. That weapon is that these top performers are uncompromisingly DATA centric. By this I mean that these hospitals, systems and IDNs are using their DATA to guide all of their supply savings decisions.
Just as important, their data gives them direction on prioritizing their savings initiatives based on their best ROIs. This is vital information for you to know since there never is enough resources to do everything you want to do at any given time. That’s why you need to pick your targets of opportunity very carefully. Otherwise, you will be going in every direction -- but forward!
Bear in mind, that top performers don’t just review their custom operating room packs because someone thinks it might be a good idea to do so. They do so because their DATA is telling them that there is a $234,129 savings opportunity to be achieved if they do.
This eye-opener reminds me of a Utilizer® Dashboard client who called our advisory staff a few years ago saying that his gut was telling him that there were big savings in his hospital’s custom operating room packs since his OR pack’s monthly purchases had been going up for the last three-quarters. However, when we looked at the DATA we found there was no savings in this area of our client’s operations because his custom pack procedure cost (CMI adjusted) was well within acceptable limits vs. his peers.
This story confirms what can happen if you make all of your savings decisions without them first being DATA driven. Note that without DATA driven decisions you will risk expending your limited resources on dry holes, lost causes or meager savings opportunities.
As a supply chain professional told me just the other day “I know that there is a right way and wrong way to do things”, and the best way to do things right is to emulate the practices of supply chain savings performance leaders by doing it with DATA. The payoff for you is that it will make your job easier, more productive and predictable. This is now a proven, time-tested and undeniable fact!
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 want to learn more about data-driven decision making, I would suggest that you order our no cost “Healthcare Supply Utilization Revolution” book today., so you too can join the ranks of top performer.
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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.
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