I can’t count the times I have seen value analysis teams waste time, money, and resources because they haven’t received advanced training in value analysis strategies, tactics, and techniques. Instead of taking less than 90-days to complete their value analysis projects, they sometimes take years, if they ever get their projects finished. They ignore savings opportunities because they believe they are too hard to investigate or implement, or they are uncomfortable challenging their clinicians’ bad behavior, habits, and practices. Thereby, costing their healthcare organizations millions of dollars annually in lost, ignored or discarded opportunities. It doesn’t need to be this way!
Fully developed, trained, and motivated value analysis teams are like “savings machines”. You couldn’t stop their savings from flowing, even if you tried! This is because they have acquired the appropriate skill sets through training to make their VA job easy, productive, and profitable. We train our clients’ value analysis teams to use our 6-Step Value Analysis Funneling process which ensures that their value analysis team members approach each and every value analysis study the same way. That’s why they complete 97% of their VA projects on time, within the budget, and within 90-days!
When you consider that a one hour meeting of your value analysis team costs your hospital about $500, you want them to be as productive and profitable as possible. This cost doesn’t even consider the time (3, 7 or even 11 hours) it takes for your team members to investigate new products or revisit existing products that have utilization misalignments, failures or anomalies in your spend.
If you think training is costly, just think of the cost of not training your value analysis teams: A cost in time, a cost in inefficiency, a cost in productivity, a cost in lost opportunities. Can you really ignore that training is the answer to most or all of your value analysis challenges? I know from personal experience that training is the “magic bullet” for your value analysis success.