“One of the biggest advantages of AI for value analysis practitioners, as I see it, is AI’s ability to automatically sift through vast data, create custom analytics, and search out intelligence to uncover unseen savings or quality and safety issues that have been concealed from your view in the past.”
Value analysis is already a powerful tool to identify savings opportunities at your healthcare organization through functional analysis, life cycle analysis, and supply utilization management. Now, with artificial intelligence (AI), a whole new world of savings, quality, and safety gains can be achieved. This is why 68% of business executives believe the benefits of generating AI outweigh the risks, according to Gartner.
One of the advantages of AI for value analysis practitioners is that you will be able to gain insights into your data without human intervention. This will enable you and your value analysis teams to have better, more accurate data-based decisions. For instance, AI will enable you to scan all of your expenses in light speed to determine where there are supply utilization misalignments in your supply streams that are now hidden from your view.
Another advantage of AI is greater efficiency and productivity gains by removing time-consuming manual work. You will be able to delegate tasks such as generating savings reports, project management oversight, and ongoing communication with stakeholders without human involvement, thereby freeing up your time to perform more important work (e.g., training, planning, educating department heads, surveying customers etc.). As you become more familiar with AI, it will help you move into the digital age without hassle or loss of productivity since it will perform like your automobile’s cruise control.
One of the biggest advantages of AI for value analysis practitioners, as I see it, is AI’s ability to automatically sift through vast data, create custom analytics, and search out intelligence to uncover unseen savings or quality and safety issues that have been concealed from your view in the past. This will ensure that no savings or quality and safety issues are lost in a data maze.
These opinions I share with you today are based on SVAH’s own investigation, tests, and business models created by AI for our clients’ benefit. I can say without reservation that we at SVAH are blown away by AI’s possibilities in the future of value analysis and supply chain management.
| About Robert T. Yokl, Founder & Chief Value Strategist for SVAH Solutions |
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| Robert T. Yokl is President and Chief Value Strategist at SVAH Solutions. He has four decades of experience as a healthcare supply chain manager and consultant, and also is the co-creator of the Clinitrack Value Analysis Software and Utilizer Clinical Utilization Management Dashboard that moves beyond price for even deeper and broader clinical supply utilization savings. Yokl is a member of Bellwether League’s Bellwether Class of 2018. https://www.SVAH-Solutions.com https://www.SavingsValidator.com |
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