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 - April 15, 2009
Robert T. Yokl
President & Chief Value Strategist
VA Balanced Scorecards Work
Greetings,
Over the last 22 years we have incrementally improved our LEAN Value Analysis Program with many innovations that are now being adopted by healthcare organizations around the country as best practices. We are happy to share this hard learned knowledge with the value analysis community since it is our mission to promote value analysis as the weapon of choice in reducing a hospital, system or IDN’s supply chain expenses and control those costs going forward.
Take a giant step! I now want to share with you one more giant leap forward in the Value Analysis methodology that we have client tested for three years with outstanding results: VA Balance Scorecards. We decided, three years ago to introduce the concept of balance scorecards with our value analysis client engagements to provide a framework for the measurement of the performance of our client’s supply value analysis programs. Here’s what it looks like!
Our VA Balanced Scorecard not only measures VA savings achieved by month, quarter and calendar or fiscal year against our client’s stated savings goals, but also tracks and measures four other critical performance indicators:
- Team member’s meeting attendance, by team
- Champion’s meeting attendance, by team
- Projects completed on time, by team
- Canceled meetings this month, year to date
Just as important, we apply standards to ALL of these indicators. For example, we expect 80% attendance at all team meetings. Just the other day I was told that one of our client’s teams is at a 58% team attendance level which immediately set off warning signals that this team is in trouble and needs an intervention. That’s what a VA Balance scorecard can do for you. It gives you a forewarning that your VA program is off course and needs its course corrected before it capsizes.
Our client’s are so delighted with the domino effect their VA Balance Scorecard has had on their VA team’s performance that we have added a balance scorecard module to our UTILIZER™ Dashboard so that this management tool can be completed automated. This has had the effect of making our client’s job much easier in the management and control of their supply value analysis programs.
Now that you know that there is a better way to manage your supply value analysis program by adding a VA Balance Scorecard to your VA methodology, can you think of a reason why you wouldn’t do it?
Your Partner In Savings Beyond Price™,
Robert T Yokl
Chief Value Strategist
Strategic Value Analysis® In Healthcare
1-800-220-4274
P.S. If you want to see our UTILIZER™ Dashboard VA Balance Scorecard module why don’t sign up for a “test Drive” today?
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