The Key to a Successful and Sustainable Supply Value Analysis Program

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Strategic Value Analysis Planning

The Key to a Successful and Sustainable Supply Value Analysis Program

Thomas Carlyle once said, “Nothing is more terrible than activity without insight.” Yet, most value analysis initiatives are launched, re-launched or tweaked with much activity, but with little or no planning. Then, to everyone’s surprise, the inevitable happens a few months or a year down the road – the value analysis initiative fails to meet its stated goals and objectives. Or, worse yet, is perceived by your clinicians as a cost-cutting vehicle that is dramatically reducing the quality of the hospital or system’s products, services, and technologies. How can we avoid this activity trap?

To avoid this eventuality, it should be your goal to develop a comprehensive Strategic Value Analysis Plan (SVAP) to be utilized as a roadmap to establish, refine or reinvent your supply value analysis program. It’s important to understand that while bottom-up VA initiatives are commendable, what works best is when a hospital or system’s executive management team buys into, is committed to, and sets the tone and direction for any VA initiative. 

Based on our experience, this journey starts with finding a champion to sponsor your new or refined supply value analysis program from within your healthcare organization’s executive management team.

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