Strategic Value Analysis In Healthcare

Greetings!

I just got back from a recent speaking engagement which I spoke to over 200 supply chain professionals at their annual conference on the topic “Supply Chain Benchmarking For Peak Performance”. What struck me as I interacted with this group was that only a handful of these professionals are benchmarking at an effective level where it can make a big impact on their bottom line! This is like finding out that a major league pitcher doesn’t know how to throw a “curve ball”.

Just like major league pitchers, if you are going to throw strikes (or save money) you need to have more than one or two pitches (or techniques) to do so. Benchmarking is one of the most powerful techniques that I know of to quickly identify supply chain savings opportunities for your healthcare organization.

More importantly, your bosses think so too! I’m getting more calls from supply chain professionals asking for help in benchmarking disputes with their CEOs or CFOs because their bosses are telling them that they have benchmarks showing there is more savings in their hospital’s supply chain. And they want the supply chain managers to dig and drill down deeper and find these savings.

The biggest issue facing supply chain managers in this situation is they know all about the concept and what they want as the end results but they don’t know where to get started and may not have all of the key elements (databases, templates, benchmarking partners, baseline data, etc.) to putting together a believable benchmark/utilization baseline. This is not as easy as it looks!

If you are looking to learn and do more about supply chain benchmarking to take your organization to a new level of supply savings, maybe I can help. Why not fill out our no cost – no obligation supply savings scorecard to see where your savings reside? I guarantee you will learn a great deal about supply chain benchmarking, find some savings opportunities and it won’t cost you a dime!

Your Partner in Supply Chain Savings,

Robert T. Yokl, President and CEO

P.S. Its spring time, is it time to re-energize your value analysis program?

How Do You Decide On What The “Best Values” Are For Your Healthcare Organization?

“Best Value Decisions Are Really In The Eye Of The Beholder, Not Based On Ratings, Trends Or Even Favorable Buzz In The Marketplace”

I was asked by my son last week what I think the “best value” would be for him on a purchase a Weedwacker he was considering buying because he was confused by all the data that he read in the latest issue of Consumer Reports magazine. My answer to him was “it all depends on what functions he was looking for to meet his exact requirements”, since even Consumer Reports doesn’t have the right answer for him.

As an example, a few years ago I bought the top rated Consumer Reports recommended Weedwacker (out of 36 manufacturers that were rated by Consumer Reports® that year) only to find when I got it home it was too heavy for me and was giving me back problems. After a few weeks, I traded it in for a lightweight model that wasn’t highly rated, but met my exact functional aesthetic requirement of “lightweight”. I’ve had this Weedwacker for three years now and I’m delighted with its functions and features. So for my purposes this Weedwacker was the” best buy” for me.

It’s the same with the products, services and technologies you buy everyday. Just because a product, service or technology is highly rated, trendy and have favorable buzz in the marketplace doesn’t mean that it is appropriate or suitable for your healthcare organization, unless it meets your customer’s exact functional requirements. I’ve seen healthcare organizations waste thousands of dollars by buying the “next new thing”, when the “old thing” was the really the “best value” for them.

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