August 6

Employing Healthcare Value Analysis Analytics to Get Your Way

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Using stats, figures, or healthcare value analysis analytics to garner support for your supply chain ideas or initiatives should be a first, not a last tactic, to get your way in the hospital supply chain business. Why? Stats, figures, or analytics resonate better with busy people than just lofty words or general information.

Value Analysis Analytics Will Get Your Attention

For instance, if we told you that your hospital’s exam glove usage had increased over the last four quarters, you would probably yawn at this information. However, if we showed you a chart that reveals graphically how your exam glove usage had escalated from $1.59 per adjusted patient day to $2.62 (a 65% jump) over four quarters, we can assure you that we would get your attention. This is because using stats, figures, or value analysis analytics satisfies the human need for clarity, precision, and concreteness.  

Combine Analytics with Benchmarks

If you can combine stats, figures, or analytics with benchmarks, you now have an all-out winning formula. Back to my example, a typical benchmark for exam glove usage would be about .95 cents per adjusted patient day. In our example above, this would mean that this hypothetical hospital is really 176% higher in their glove usage than their peers. Now, this is a statistic that will get anyone’s attention! Wouldn’t you agree?

To summarize our point here, the main reason for you to employ stats, figures, or value analysis analytics is to help you to start a dialog (e.g., who, what, when, where, and why their practices are different) with your department heads and managers on their utilization misalignments. Its purpose is not to win the war of words and information, but to have them investigate these anomalies in their supply streams. 

What better way than to get your department heads and managers engaged with the stats, figures, and value analysis analytics rather than have them fight you needlessly and endlessly on principle, opinion, or their beliefs when the numbers can lead the way to success. 


Articles you may like:

4 Things You Must Do to Be Successful in Clinical Supply Utilization Benchmarking

Bridging The Supply Utilization Gap With Your Healthcare Value Analysis Program August-September 2021-Savings Now Newsletter

Healthcare Value Analysis: Diagnose Before You Prescribe A Solution


Request Demo of SVAH’s Value Analysis and Utilization Tools


Tags

advanced value analysis, healthcare supply chain, Healthcare Value Analysis, Hospital Value Analysis, value analysis, value analysis analytics


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