June 4

3 Reasons Why You Should Be Taking Advantage of Value Analysis Strategic Planning


Now is a perfect time to start your Value Analysis Strategic Planning for the rest of this year and the next 2-5 years.

The adage, “You are either moving forward or moving backwards, there is no in-between,” definitely applies to the healthcare value analysis world. As we move into the end of Spring and into Summer, it is a perfect time to start your Value Analysis Strategic Planning for the rest of this year and the next 2-5 years. There are many reasons why you should try to improve yourself, your teams, and your value analysis program as a whole which I have outlined below.

Use Value Analysis Strategic Planning to Your Advantage

1. Your C-Suite Gets Strategic Planning, So Use That to Your Advantage – Trying to get new software for your VA workflow, add a new VA Manager to your team, get advanced training, or even just get approvals to go to AHVAP’s annual conference may be a major challenge when there is no valid reason to spend more money or resources. The “if it’s not broken, why fix it” type of mentality can easily creep in from leaders at your organization. However, they don’t know what you know about value analysis and all the capabilities that your organization may or may not be taking advantage of to make your Value Analysis Program even better with little or no expense. But they do understand the advantages of a strategic, well-thought-out plan for changes that you are proposing. In essence, you are planning out the future of your Value Analysis Program and all the results you will bring about from accepting part or all the elements of your VA Strategic Plan.

2. Strategic Plans Help You Figure Out What Will Work and Not Work – In a perfect world, you could plan out and propose all the new and advanced tools, human resources, methods, and strategies for value analysis at your healthcare organization that will propel you into a bright future of clinical excellence while being great stewards of spend and overall cost life cycles. The major takeaway here is that you cannot do everything at once. You need to identify what your organization needs. A perfect example of this may be that you are really strong with new product requests and contract conversions but when it comes to retrospective value analysis reviews, advanced value analysis analytics, benchmarking, and consumption/utilization management, you hit roadblocks. You will have to prioritize in your strategic plan in a phased approach what will work best and at what time, and then what is next on the list to achieve.

When looking for advanced strategies and tools, most organizations will prioritize based on the end results that these strategies and tools can bring. Take benchmarking, for example. What will this do for you and your Value Analysis Program as well as for the organization overall? This will allow you to propose advanced areas but also have a phased approach that your senior leaders can buy into.

3. Helps You Lock Down Your Scope – I cannot tell you how many times I see value analysis professionals and their teams getting pushed and pulled in one direction or another based on some leader’s interpretation of what they think they should and should not be doing. You cannot have this turn you and your VA team’s precious time upside down on an ongoing basis.

The best way to lock this down is to define your scope within your Value Analysis Program in a detailed manner. A long time ago, a very experienced VA Consultant taught me that the VA Strategic Plan is like a contract for a vendor. When someone proposes that VA do some analysis or heavy lifting that is totally outside your scope, you then have something to fall back on that states your true scope of work for you and your VA teams. Without a plan to fall back on, you will no doubt be pushed and pulled all over the place.

With all the moving parts that go through healthcare value analysis programs today, there is no wonder that I am urging you to take a step back and look at where you are and where you want to be. The best way to do this for you, your teams, and your organization is a Value Analysis Strategic Plan that will give you all the steps you need to make a case for change with all the elements, including return on investment, for the organization to do so. There is so much upside to value analysis right now! It would be a shame if you don’t max out on the results you can bring because no one has a plan. Take the next step – it is actually a fun and creative process!

Contact Us for Our Value Analysis Strategic Planning Guide

If you are interested in a Value Analysis Strategic Plan and don’t know where to start, just email me at [email protected] and I can send you our Value Analysis Strategic Planning Guide that will walk you through the process.

Below are some similar articles that you may find interesting.

The Worst Number is One When Performing Hospital Value Analysis Studies

Why Do Leaders Feel Training is Not a Strategic Advantage to Your Value Analysis and Supply Chain Programs?

Proof, Proof, and More Proof – When That is Still Not Enough

Request Demo of SVAH’s Value Analysis and Utilization Tools


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