Reimagining Savings: Getting Past Price Thinking

The one thing we find that is holding back hospital supply chain/value analysis practitioners from receiving the full savings and quality benefits of clinical supply utilization management is “price thinking.” Too often, the first thought that comes into a value analysis team member’s mind when they evaluate a new or existing product, service, or technology is, “What is its cost and can we standardize on this product, service, or technology?” instead of thinking about the total lifecycle cost of this new or current product, service, or technology.