January 27

Comparative Healthcare Value Analysis Analytics

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Most healthcare organizations, in some shape or form, are employing value analysis analytics to uncover their hidden supply chain expense savings. Yet, we have found only a few who are using comparative value analysis analytics to benchmark to identify their utilization misalignments in real-time against their peers.

Why is this important? Trending, tracking, and observing changes in your supply spend is important but we have found that it doesn’t provide you with enough ammunition to change the behavior of your clinicians. That should be the goal of every supply chain professional – changing behavior!

Only by sharing comparative value analysis analytics with your customers can you be assured that you will: (i) get their attention, (ii) find them receptive to your recommendations, and (iii) help them to modify their practices to maximize your supply chain expense management performance.

Figure 1: Comparative Value Analysis Analytics Study

Exam Glove Cost with Comparative Value Analysis Analytics

In figure 1, we show an example of what a comparative VA analytics study looks like on examination gloves. It is crystal clear that this hospital has a utilization misalignment challenge with their floor gloves.

The next step is to ask, “Why are we different than our peers?” Is it non-compliance to our glove policy? Is it our package/quantity size of our gloves? Higher than normal use of hypoallergenic gloves? This method of inquiry starts the dialog with our customers as to the reason(s) why we are different which will naturally and logically lead to changing the behavior of your clinicians.

However, without comparative value analysis analytics this dialog won’t happen, change won’t happen, and you will never reach the maximum performance of your supply chain expense management. If you want to up your value analysis game by uncovering hidden utilization savings, don’t stop with just tracking, trending, and observing changes in your supply spend. Start benchmarking your 350+ categories of purchase to elevate and maximize your savings results.


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Request Demo of SVAH’s Value Analysis and Utilization Tools


Tags

comparative value analysis, healthcare supply chain, Healthcare Value Analysis, hospital supply chain, Hospital Value Analysis, supply chain expense, supply spend, supply utilization, utilization management, utilization savings, value analysis analytics


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