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 19, 2009
Robert T. Yokl
President & Chief Value Strategist
Make Every Dollar Count
Greetings,
If I were to list for you the operational areas that supply chain professionals aren’t aggressively targeting and monetized the value of these savings opportunities it would be in the BILLIONS of dollars annually.
Let’s look at the evidence. We see only a few hospitals, systems and IDNs focusing uncompromisingly on their purchase services where the savings potential is equal to or greater than their supply expenses. When these same healthcare organizations do target these savings opportunities we see savings in the range of 11% to 18% quickly being realized.
We regularly document that cash is tied up in excess inventories -- in the range of 22% to 37% -- this could be unfrozen for other uses. Not to mention the savings in inventory holding cost that adds up to another 35% annually. These are real dollars, not funny money!
Then there is the huge utilization savings that are being left on the table UNTOUCHED at the majority of hospitals, systems and IDNs today. This is a supply chain operational area that we have been focusing on for nine years now. We have documented close to a half billion dollars for our clients in real, obtainable and sustainable savings.
So remember, in this new economy where 69% of our nation’s hospitals have little or no bottom line to show for their efforts, as supply chain professionals you must step up to the challenge to “make every dollar count” in savings in order to boost your healthcare organization’s bottom line. To ignore this evidence could be hazardous to your healthcare organization’s financial health.
Your Partner In Savings Beyond Price™,
Robert T Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
1-800-220-4274
P.S. If utilization management is on your radar screen, I would suggest that you sign up for a TEST DRIVE of our Utilizer® Dashboard so that you can see how easy it is to achieve 7% to 15% in savings.
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