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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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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How to Sell the Concept of Supply Utilization Management to Your Senior Leadership

Up until recently, supply expense management was all about best pricing, standardization and compliance to GPO contracts; that’s how supply…

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3 Benchmarking Best Practices That are Essential for Your Hospital Supply Chain Success

Healthcare Supply Chain Benchmarking* often gets a bad rap because its practitioners use imprecise measurements, there data is incorrect, or…

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Two New Ways You Can Use Your Data & Analytics to Close the Gap in Your Hospital Value Analysis Savings

Improving your value analysis savings in 2018 and beyond will require you to embrace data-driven decisions like never before, since the biggest savings opportunities in value analysis can’t be seen with the naked eye.  Only by employing time tested value analysis analytics will you be able to optimize your supply savings opportunities.

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Healthcare Supply Chain Managers Need to Protect Their Future with Supply Utilization Management

The winds of change are upon us (e.g., value-based purchasing, bundled payments, Medicare/Medicaid managed care, third-party mandates, price pressures and…

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