March 7

What is the Right Value Analysis Model for Your Hospital?

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Twenty years ago this question would have been easy to answer. However, now that the majority of hospitals belong to a hospital system it isn’t that easy. To help you with this challenge, here are three guidelines to assist you in making this very important decision:

1. Participation drives compliance: If you are going to mandate a product, service, or technology change at your healthcare facility without the participation of your value analysis team, you will discover that your contract compliance rate will be lower than expected. On the other hand, if your value analysis team members are allowed to have input into your corporation’s buying decisions your contract compliance rate will be much higher.

2. Don’t ignore the uniqueness of your facilities: All of your facilities aren’t created equal, so don’t treat them the same. Some have huge storage closets, some do not. Some have cultural differences and some do not. Some have more staff than others. Don’t forget this fact when you are planning a new product, service, or technology introduction.

3. Vendor/manufacturer standardization will save but product standardization will cost you money: Generally, hospital systems believe that product standardization across their facilities saves them money. Yet, all of our studies show that standardization can and will cost you money. This is because all of your customers don’t need all of the functions and features you are making available to them with a standardized product, service, or technology. Therefore, you are throwing money away with this strategy. Likewise, some customers need a more sophisticated product, service, or technology than you are offering them, thereby causing off contract buying at a higher cost. What we recommend to solve this problem is to customize your offering for those customers who need it.

In conclusion, there is no one value analysis model that fits every hospital system’s culture. However, keeping these guidelines in mind when establishing, reinventing, or refining your value analysis program will go a long way to solving problems that system value analysis teams encounter when they have a few years under their belt.


Tags

healthcare, healthcare facility, hospital system, hospitals, product standardization, standardization, value analysis


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