Savings Beyond Price™
Innovative Supply Savings and Quality Solutions That Work
by Strategic Value Analysis® in Healthcare
Did You Know...?
That Value Analysis Was Developed Back In the 1940's After World War II as a Way to Find Lower Cost but Higher Quality Alternative products and methods. This was Due to the Lack of Material Resources At The End of The War.
Savings Beyond Price -Weekly eNewsletter - March 19, 2008
Robert T. Yokl
President & Chief Value Strategist
Greetings!
Unique Learning Experience!
I would like to thank the attendees at our Certified Value Analysis Leadership Training Program last week, you were a very intelligent group and I hope you take away just as much as I have learned (what your expectations are) from you.
This three-day session opened my eyes to the big challenges that value analysis leaders are struggling with today, and the strategies, tools and techniques that they are searching for to meet their day-to-day responsibilities.
I was also impressed with the aptitude, talent and abilities of the attendees who are now leading their supply value analysis programs in healthcare. They are wise beyond their years and are extremely motivated to move their VA programs to the next level of operating excellence.
It was my pleasure to meet, greet and contribute to these individuals’ learning experience. They told me that it was a program that offered a different perspective on value analysis and can offer a recipe for the development or revitalization of any VA program.
Your Partner In Savings Beyond Price™
Robert T. Yokl
Robert T Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
P.S. I have some good news for you! We are releasing today our new Value Analysis Leader Resource Web that will give you all of the resources you have been looking for in one website! Yes, you heard right! We will be giving you ALL of our million dollar savings ideas, tools and educational resources that you need, thus making it possible for you to generate new savings quickly and easily. Just click on to our website at www.valueanalysisweb.com to sign up for a charter subscription (limited to 100 subscribers) to start your savings flowing today!
The Analytics of Value Analysis:
A New Way to Win!
“Isn’t it About Time We Employ New and Better Power Tools for Saving Money? "
I now believe that there is a consensus that price savings is slowly, but surely disappearing. So where do you go to generate your next big value analysis savings opportunities over the next one, two, three or even five years?
One of the best answers is that you need to dig and drill down even deeper and broader for your utilization savings with a new power tool which I call Value Analysis Analytics. As Thomas H. Davenport, the author of Competing on Analytics describes it, (Value Analysis) Analytics is “the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decision and actions”.
What Davenport is saying, in layman’s terms, is that if you organize your supply spend into standardized descriptive categories (e.g. IV sets, dressings, office supplies, Oxisensors, transcription services, etc.) and then systematically measure the performance of these same products, services and technologies against your peers, then new, bigger and better value analysis savings opportunities will literally jump off the page at you.
Value Analysis Analytics - A New Way to Win
What I’m talking about is the targeting of your utilization misalignments (i.e. wasteful and inefficient consumption, misapplication and misuse of your products, services and technologies) that our research has shown isn’t even on most hospital’s radar screens. This salient fact means that your hospital is leaving 1, 2 or even 3 million dollars (per occupied bed) just waiting to be harvested.
For instance, we recently measured the performance of one of our client’s custom operating room packs and found that their cost per case (case mix adjusted) was $33.98. This was $5.98 higher (on their utilization, not price) than their peer group or a $42,256 variance from the norm. It’s no accident that we uncovered 22 other big utilization misalignments for this same client, because we employed our value analysis analytics power tool to uncover these savings.
In my opinion, there is no better power tool than employing value analysis analytics to discover your utilization savings. It’s a new way to win to the battle for everlasting savings opportunities that are obtainable and sustainable.
You Now Need to Up the Bar
on Your Savings Performance
No longer can you ignore your utilization misalignments because you think that you can continue to have big price savings to meet your annual savings goals and objectives. It just isn’t going to happen!
In actuality have been in a cost containment mode for years now as it relates to price, since inflation (3.4% in 2007) has eaten away at any real price savings you have ever achieved over the last few years.
If you are really serious about sustaining your savings over the long term you must now, today -- not next week -- change your focus from just price, to also attacking utilization misalignments in your products, services and technologies’ value stream (cradle to death). Then, and only, then, will you hit upon new ways to continually win the savings game!
Healthcare Lean Value AnalysisTM
March 19, 2008 - 1:00pm to 2:00pm EST
Energize and grow your value analysis programs while increasing your savings yields and dramatically improving your quality.
What You Will Learn:
Learn the difference between Lean Value Analysis and traditional value analysis and product evaluation techniques.
Learn the new skills that are required to be successful with Lean Value AnalysisTM in the years to come.
How to step up your quality processes inside your value analysis program while saving more in the long run.
How Lean and Six Sigma are perfect tools for the value analysis and supply chain practitioners to gain faster and better results.
How to develop your Lean Value Analysis ToolboxTM to pack more power into your value analysis teams and methods.
How to gain your managements' buy-in to the new Lean Value AnalysisTM concepts and practices to insure long term savings and quality improvement success.
March 19, 2008 - 1:00pm to 2:00pm EST
Webinar Leader - Robert T. Yokl, President/Chief Value Strategist Strategic Value Analysis in Healthcare
Sign Up Here click here
Remember...The Webinar May Be FREE But The Information is Priceless
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New Dates Announced for Certified Value Analysis Leader Workshop!
Sign Up for Our FREE Weekly Savings Beyond Price eNewsletter to Receive Exclusive Content Not Found Anywhere Else
PLUS as an added Bonus, we'll also send you our SPECIAL REPORT "Your Targeted Blueprint for Supply Savings Success!"
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