I would think most value analysis coordinators, managers, or directors are tracking some metrics (e.g., savings, VA meeting attendance, and projects completed) on a spreadsheet, but there comes a time when this vital information turns out to be too cumbersome, unwieldly, and non-user friendly to be helpful.
That’s when a single dashboard that can hold, accumulate, and then display all of this vital information for all to see can save the day. However, this will require a database that you rent, buy, or develop to do so! Yet, it is mission critical to have these VA metrics displayed in an easy-to-read format at your healthcare organization.
What Metrics Should You be Tracking with Your VA Dashboard?
The following is a short list of the metrics that we either recommend to our clients or our clients are already employing to measure, manage, and control their value analysis program:
| VA Program Savings Goal for FY | Status of all Projects by Team |
| Percentage Goal Saved to Date | Total Implemented Savings to Date |
| Average Savings per Project | Projected Remaining Savings for FY |
| Last Year’s Avg. Savings per Project | Projected & Implemented Savings |
| VAT Category Savings to Date | Project’s Shortfall this FY (if any) |
| Active vs. Completed Projects | Project’s Shortfall Percentage |
| Attendance (%) at VA Meetings | Attendance (%) for Team Leaders |
Imagine these metrics being automated in real time on your systems and you not having to crunch a dozen or more spreadsheets together to keep this going. The time has come for your hospital to up its value analysis key performance game!