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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 7, 2011

 

A Note from Robert T. Yokl,
President and Chief Value Strategist

I hope everyone is rested from the July 4th holiday and is ready to enjoy the long summer ahead of us. As you know, there is still a lot of work to be done to get ready for your new fiscal year; new savings, new challenges and new government mandates.

It’s why I took a few minutes in this issue to talk about “Unlocking Savings Opportunities: The Physician’s Role”, since these individuals are the key to even bigger and better savings in FY 2012. We can’t do it without their help! 
In my blog article I also touched “The ‘Less is More’ Rule” where big savings can be achieved by snipping and trimming your cost with hundreds of small cuts -- one at a time. It’s an ideal way to save money!

I would also like to bring to your attention a software solution that should be in every supply chain manager’s toolbox to manage and control your purchase service contracts. If you don’t know it already, there is a better than even chance that you can save 11% to 18% in this category of purchase alone before the end of FY 2012. Don’t let this opportunity pass you by…

 

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Unlocking Savings Opportunities:
The Physician’s Role

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Your first reaction to this article’s title might be, “I didn’t know that physicians had a role in saving money”, since too often my healthcare organization’s financial goals are at cross purposes with theirs. If that is your take on this symbiotic relationship, then you would be mistaken, since in today’s new healthcare economy your physicians are in the same life boat as you are, if they want to stay afloat in these turbulent times.

First of all, most physicians have a kinship with your healthcare organization and want to see it survive.  After all, without hospitals physicians have nowhere to send their patient for treatments, perform procedures or to seek expert advice from specialists. You might call this physician/hospital relationship a mutual aid society or an affiliation that strengthens with age. Whatever you call it now is the time tap into this relationship to unlock your savings opportunities.

As I see it, the physician’s role in saving money is to be a customer, expert and advisor in any and all clinical cost reduction initiatives that you are contemplating. They can help you rally the troops, create a culture of compliance to best practices, and focus your team on what is important to them.

I’m not talking theory here since I have worked with physicians my entire healthcare career and have observed what works and what doesn’t with them.  In fact, I have often been surprised at how engaged physicians can become in saving money.  I can remember one time when I was blow-a-away at the graphs and charts that a surgeon developed for a value analysis team meeting I was facilitating.  What amazed me was that this busy surgeon took the time to plot the usage on his peers operating surgeon’s gloves and then I couldn’t believe his enthusiasm on the changes he thought he could get adopted to reduce the cost of this commodity group. This wasn’t an isolated instance; I have experienced this happening many many times in my career.  

What you need to remember is that physicians are successful entrepreneurs who understand how to save money.  They do it every day in their own practices! Now it is our job to tap into the businessperson’s side of their thinking to assist us in unlocking savings opportunities for your healthcare organization. You will be surprised to discover how your physicians can use their everyday demeanor and leadership skills to set the tone for maximizing your supply chain savings.    
 

Warmest Regards,

Robert T. Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
Bobpres@strategicva.com
1-800-220-4274

Your Partner In Savings Beyond Price™,

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