Why
Aren’t More Savings Coming Out Of Your Supply Chain
Pipeline?
“A Never Ending And
Steady Flow Of New Savings Ideas Is The Fuel That That
Will Keep Your Value Analysis Teams/Committees Engine
Humming"
Drip…Drip…Drip!
If you listen carefully that’s the
sound of most hospitals, systems and IDNs savings
pipelines. Their savings ideas are flowing in drops,
dribbles and trickles…instead of running like streams
and rivers.
This is
a clear indication and warning sign that most hospitals,
systems and IDNs’ savings pipelines are running dry! As
a friend of mind used to say, “The fish aren’t
jumping in the boat any longer – right?” And he then
goes on further to say that, “Now, you need to be an
expert fisherman to find and reel in new fish to
survive in this crazy and wacky world of ours.”
Most
hospitals, systems and IDNs we work with have this
challenge. Where do they find a never ending and steady
flow of new savings ideas to fuel their value analysis
teams and/or committees so they can keep them humming.
The answer to the conundrum or puzzle is three
fold:
Systemization,
Benchmarking and Functional analysis. Here’s an illustration of what I’m talking about.
At a university teaching hospital system client of ours supply
savings (beyond price) had stopped flowing.
In fact, it wasn’t’ even at the trickle stage at the
point in time we arrived on the scene – it had
completely dried up! But after we gave them a new
money-saving system, identified $13 million in new
savings opportunities through benchmarking and
taught them how to functionally analyze the $152,000
million dollars in products, services and
technologies they were purchasing annually, they
saved $7 million dollars in just one year.
What
made the difference:
(i) Having a repeatable, trainable and auditable system
that organized them to save forevermore, (ii) broader,
deeper, and more targeted benchmarks that enabled them
to accurately pinpoint savings opportunities at the SKU
level, and (iv) the ability to functionally analyze the
36,426 products, services and technologies that they
purchase annually to determine what was absolutely,
positively, clinically, and operationally required for
their healthcare system.
You too
can make this great leap forward, as our client did, by
having a never ending and steady flow of savings ideas
vs. drip…drip…drip… for your value teams or
committees, if you are systematized to save, have a huge
stockpile of fuel for your fire and dig broader and
deeper than ever before for your savings ideas.
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