A
Note from Robert T. Yokl,
President and Chief Value Strategist
You’ve heard the saying “It takes a village” to… Well, in the
new healthcare economy it takes a value analysis team(s) to
ferret out the last dollars of saving for your healthcare
organization, only if you broaden their scope and
responsibilities to meet the new challenges in healthcare today.
That’s the theme of my feature article, “Leveraging Value Across
the Entire Healthcare Supply Chain” by empowering your value
analysis team(s) to take on even more value analysis studies
than ever before.
I also followed up with my blog article for this week, “The
Supply Chain of the Future: Technology is the Answer”, to get
you thinking about your own supply chain technology budget that
seems to be lacking at most healthcare organizations. Why?
Technology is the only way, as I see it, for supply chain
departments to go beyond surface savings for even newer and
better savings that can’t be seen by the naked eye!
You also might want to take a few minutes to see why more and
more healthcare organizations are signing up for our
Utilizer® Dashboard
subscription services. Our clients tell us it’s because there is
nowhere else to go for savings, now that their price savings are
slowly disappearing!
Leveraging Value Across the Entire
Healthcare Supply Chain
One of the missteps I’m observing with supply value analysis
programs is that healthcare organizations aren’t leveraging
value across the entire healthcare organization, thereby leaving
millions of dollars of purchases annually not value-justified.
It’s almost like there is a sign posted on thousands of dollars
of non-clinical products and services that reads “off limits”
It shouldn’t be that way!
Purchase services alone represents 39% of a typical healthcare
organization’s supply spend. 57% of this is of a non-clinical
nature (i.e. telecommunications, records storage, utilities,
insurance, IT services, office rentals, etc.) that is under most
hospitals, system’s and IDNs radar screens. The time has arrived
to treat all non-salary expenses the same: Suspect all
expenditures until they have been value-justified!
I remember assisting an IDN client’s saving $750,000 in their
telecommunications expenses because their value analysis team
never value-justified this category of purchase. It was always
thought to be “off limits” until their value analysis steering
committee authorized a value analysis study. Another one of our
client’s value analysis teams is targeting their food service
contract with the goal of reducing it by a half-a-million
dollars that had never before been vetted. The moral to these
stories is “Nothing is off the table at these two healthcare
organizations”, why should it be at yours?
When we perform a Strategic Value Analysis planning session for
our client’s executive management teams, one of the questions we
ask them during this session is “what is the scope of your value
analysis program going to be”? Inevitably, their answer is
EVERYTHING and EVERYBODY! No executive team (we have done
hundreds of these sessions) has ever limited the scope of their
value analysis program. So, why shouldn’t you do the same when
your executive management thinks the same way? All you need to
do is just ask them to broaden the scope for your value analysis
program or as I did, just enlarge your scope until someone
challenges you and says you can’t do it.
The truth is that I don’t need to tell you that we have entered
a new era in healthcare, where every dollar saved is mission
critical to generate a bottom line for your healthcare
organization. This means that no stone should be left unturned
with your value analysis program in meeting this goal and no
commodity group should be excluded from your value analysis
agenda. It saves dollars and makes sense to do so!
Warmest Regards,
Robert T. Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
Bobpres@strategicva.com
1-800-220-4274
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