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!