5 Mission Critical Benefits of Developing a Strategic Value Analysis Plan to Re-energize Your VA Program

We often hear from value analysis practitioners who have been on their VA job for one, two or even three years who are now asking themselves….” what is next with their value analysis program or is facilitating new product introductions or GPO contract evaluations all there is to value analysis?”

Our answer to this question is always that healthcare value analysis is more than new product introductions and GPO contract evaluations if you are to have a robust VA program to help your healthcare organization thrive in these changing times.  But first, you need to have a Strategic Value Analysis Plan* (SVAP) to guide the way.  Here are five mission critical benefits of doing so:

  1. Helps you plan for new VA challenges and roadblocks: As an example, if you aren’t getting enough physician’s participation this needs to be discussed and improved in a brainstorming session.   Or else, this and other issues will fester and then hold back your VA success.
  2. Enables you to be proactive, as opposed to reactive: First off, you need to align your SVAP with your healthcare organization’s annual strategic plan, so you are in step with your senior management’s goals and objectives.  This helps you to be proactive Vs. reactive to the changes in your organization’s future.
  3. Gives you a sense of direction Vs. drifting: Too often, hospital value analysis practitioners “wing it” with their value analysis program instead of carefully planning its direction. An example of not winging it would be planning to focus in FY 2018-2019 on utilization management as well as standardization and price reductions.  Remember when you wing it you can end up (flapping your wings) working hard and not getting anywhere fast!
  4. Increases your chances of Long-Term VA success: Thomas Carlyle once said that, “Nothing is more terrible than activity without planning”, because it can lead to disastrous mistakes.  By that we mean forgetting to communicate with stakeholders, eliminating VA training, or creating a VA structure that is to complex.  Think about planned orderly flows for everything in VA, it happens every day, why not for you and your organization?
  5. Boosts your operational efficiency and productivity: Revisit problems, bottlenecks and opportunities that raise their ugly head during the year. Fine tune your VA policies, procedures and processes to make them hum like a fine watch.

Further, any good Strategic Value Analysis Plan starts with a blank piece of paper, so there will be nothing holding you back from reinventing, exploring and creating new opportunities and inspiration for your VA program with the goal of making it exciting, engaging and fun again for all involved parties.

 

(*) If you would like a more in-depth information about developing your own SVAP, we would recommend listening to our new podcast #40: Strategic Value Analysis Plan: Why it is more important than ever before.

 

If you want more information SVAH’s Strategic Value Analysis Planning opportunities or VA Tools, Please fill out the only contact information below and a representative will be in contact with you for a discussion and/or no cost no obligation review.