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 - September 17, 2009
Robert T. Yokl
President & Chief Value Strategist
Preventing Waste in your Supply Chain
Greetings,
I’m happy to report that more and more supply chain professionals understand and recognize that there is more money to be saved in their utilization misalignments than in their price savings. But they are perplexed on how to prevent these wasteful and inefficient practices.
One way I know of to do so is to perform a consumption analysis on any new product, service or technology request. So instead of just evaluating the efficacy and cost effectiveness of the new commodity being requested, you need to use this new request as a catalyst to review how the replacement product, service or technology is being utilized now.
Here’s how it works. A new request at one our client’s hospitals for a new endomechanical stapler seemed reasonable and cost effective, but then a VA team project manager was assigned to do a consumption analysis on their current staplers. What he found was that his hospital’s surgeons were using a roticulating arm stapler routinely, when only 22% of his hospital’s patient required this feature for their operations. The outcome of this study was a savings of $16,543 annually.
An ounce of prevention! Without this extra step in this client’s value analysis process this wasteful and inefficient practice would have never been uncovered. That’s why you should NEVER approve a new product, service or technology request without first performing a consumption analysis of the replacement commodity.
Just one extra step! Adding just one extra step to your value analysis process can save your hospital thousands, maybe even tens-of-thousands of dollars a year, in utilization misalignments. This preventive measure is to ensure that every product, service and technology you buy is utilized appropriately and cost effectively.
So if you want to prevent waste and inefficiency from creeping into your supply chain, this is the easiest and most straightforward way I know of for you to start to attack your utilization misalignments one product, service and technology at a time.
Your Partner In Savings Beyond Price™,
Robert T Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
1-800-220-4274
P.S. Or, if you want to uncover ALL of your utilization misalignments at one time you might want to take a “test drive” of our Utilizer® Dashboard and we will show you how to do it.
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