3 Powerful Tactics to Ensure Your Healthcare Organization Has a Foolproof “Closed-Loop Savings Verification” Process

After reading an article by David Shannon and Chuck Miller of Bain & Company about “Closed-Loop Savings Verification” processes (CLSV)…

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Your Biggest Cost Savings Opportunity is Often Ignored After the Right Product at the Right Price at the Right Time at the Right Place Happens

For many in the healthcare supply chain, the old touchstone has been the cornerstone of best practice for over 50 years.  What happens after the product is in our customers hands?  What happens after the contract has been implemented/converted and/or value analysis has chosen the best valued product?  We know that the right price is in our ERP/Purchasing Systems but do the dollars hit the bottom line?  In order to get a better grasp on this concept, validation needs to occur because the costs ramifications cannot be left flapping out in the wind any longer.

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A Back to Basics Approach to Big Supply Chain Double-Digit Savings Results

We all are looking for new strategies, tactics or techniques to improve our supply chain  savings yield.  Yet, have you ever considered that going “ Back to Basics” as the best course of action to gain double-digit savings results? If not, here is a checklist of six strategies, tactics or techniques you need to revisit every year to get your savings engine in high gear:

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Collaboration with Customers, Suppliers and Even Competitors is Your Greatest Opportunity for Success

More than 70 percent of healthcare supply chain executives, in a McKinsey survey, identified collaboration with their customers, suppliers and even competitors as the greatest opportunity for their supply chain expense management reductions.  Here are some ideas on how to collaborate with these stakeholders or competitors in your supply chain success:

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The Four Stages of Value Analysis Maturity: Where Do You Fit into this Continuum?

By my estimation, healthcare value analysis has a 40-year history in the healthcare industry.  Along the way, hospitals, systems and IDNs have developed, sometimes in a vacuum, their own value analysis model.  Based on our empirical experience, here are the four stages of value analysis maturity and where we see healthcare organizations on this continuum:

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