Most hospitals, systems, and IDNs employ some form of project management in their value analysis process. While this is a good thing, it can also cause problems if all healthcare value analysis projects are treated alike. For example, if a project only involves one or two departments such as telecommunications, why is a long drawn out project required? Can’t we fast-track these projects so we can have savings results quickly?
This is the challenge most hospitals, systems, and IDNs face when assigning projects to their VA project managers. What we suggest, since all VA projects are not created equal, is that they should be treated differently as follows:
Healthcare Value Analysis Projects to Fast Track
- Projects that have a value of less than $10,000 in savings should be fast-tracked with a 30-day deadline to speed up your value analysis process.
- Projects that only involve one or two departments should be fast-tracked for quicker results.
- Projects that have a high ROI need to be expedited quickly, if possible, to obtain a more rapid impact on your healthcare organization’s bottom line.
- Projects that can be broken down into pieces need to be given priority over getting the total project completed at one time.
Our point here is that value analysis isn’t just about savings, it’s also about SPEED! If it takes your value analysis project managers six, eight, or even 12 months to bring about savings on each and every one of your value analysis projects, this is too slow to meet the demands of your hospital, system, or IDN to generate savings now.
To sum up, we are asking you to put on your thinking cap to find additional ways to speed up your value analysis process, since tomorrow’s savings might not be enough to keep your healthcare organization afloat in these turbulent times. We know this is possible, since we see these tactics being employed every day with clients we are working with to up their value analysis game.