Knowledge Center

How to assess the total procedural value through a clinical and economic lens.

Are you winning the battle against rising purchased services costs and surviving financially in a post-COVID environment?

Value Analysis programs are charged with evaluating products and services while balancing cost, quality, and outcomes in the decision. The quality of the products and the outcomes from using the products cannot be compromised, but today’s environment within healthcare dictates that cost is a significant factor influencing the decision. Unfortunately, the identified savings is not always realized in the anticipated time frame or to the full extent. Every week an initiative is delayed or not fully implemented results in lost dollars that cannot be recouped.

As hospitals restructure to gain sustainability in an era of reform, it is crucial for supply chain leaders to work collaboratively within health systems and identify new opportunities for cost reduction in areas that generate savings and improve outcomes. This webinar focuses on key lessons and best practices using case studies from leading hospitals and health care systems that have successfully aligned their supply chain and strategic vision.

Budget Impact Analysis (BIA) is a type of analysis that can bridge organizational gaps to help improve coverage decisions for new products or procedures. Because a BIA can be adjusted to meet the goals of a particular population with particular needs, it can also improve the value and the quality of healthcare. This type of analysis can help Supply Chain leaders and their collaborative value analysis teams to make local adoption decisions in a timely manner.

The perioperative services administration at Massachusetts General created a rigorous and rapid approach to raising the level of cost awareness among its nursing, surgical technician, and surgical staff. In this webinar, the leadership team shares how they used data capture to assess supply use and how they changed the culture in their hospital to be more cost aware.

Yankee Alliance facilitated an Orthopedic Total Joint Collaborative in order to identify opportunities for quality improvement and cost reduction, resulting in documented savings of over $8M. In this webinar, the collaborative approach is reviewed as well as the methods deployed to achieve savings, including implant and reimbursement benchmarking, contract strategies, and perioperative supplies utilizing data analysis.

Although suppliers and providers may hesitate at a partnership approach, it is possible to collaborate on total cost of ownership. Learn from the diverse experiences of expert providers and suppliers in the field as they identify the variables that make a successful partnership, where pitfalls can happen, and steps to overcome challenges.

A panel of three leading experts in the value analysis field candidly share information regarding the state of value analysis when they entered the field, their experiences during the evolution of value analysis to its current state in their respective organizations, and their thoughts on the future state of value analysis as well as lessons learned along the way.

Advocate Health Care developed a provider-supplier partnership that reduced re-admission rates and improved quality of care inside and outside of the hospitals. This webinar discusses elements of the collaborative research, the clinical economic baseline and outcome, as well as how the quality improvement program components lead to better care process.