What is Your Single-Minded Purpose in the Healthcare Value Analysis World?

By Robert W. Yokl, Sr. VP, Operations – SVAH Solutions

This may seem like a rhetorical question given we all have our defined titles, job descriptions, and assigned duties in our organizations, but how do you view yourself in your position? Forget about the activities, time you put in, and studies you have accomplished. What is the end result that you see yourself bringing about?

A simple case in point from several years back: I was picking up the President of an up-and-coming physician preference item cost management company that we were considering partnering with. On the ride from the train station to our offices, I asked him how he viewed our unique cost management and value analysis worlds. Straight away he said boldly, “We save lives!” This took me aback as I did not think of our world that way as we were mostly in the cost management and value analysis business and he was in the cost reduction of physician preference items. Just to give a little more background on the President of this firm, he was still an active Surgeon at three different hospitals in the NY/NJ area as well as owning this new venture.  

Intrigued and perplexed with his answer, I asked him how we save lives in the cost management business. Plain and simple he stated, “Hospitals need capital and healthy bottom lines to continue to add new services, new instruments, expand their operations and pay their best people. Without us helping them to keep a healthy bottom line, people are going to die!” He blew my mind and made me think on a whole new level of the purpose of why we do what we do in the value analysis world. 

What is it that fires you up to do the very challenging job of value analysis? For me, it is helping clients save big in new and advanced areas like utilization management. Most organizations are totally price focused and are not even considering utilization management savings as anything substantial. Then, I help educate them and show them where the opportunities are beyond price and there are many. They then achieve the big results without having to change a contract or go through a painful conversion but instead better utilize their supplies (what a concept!). All while maintaining the efficacy of the products or technologies we are working on. Does it get any better than this? 

As we move further into 2019, I think it is a great time to take a step back and to really ask yourself what your single-minded purpose is for performing the job of value analysis in the capacity you are in. Don’t just spew off some mantra or vision statement that somebody else wrote because that is not yours. Think about what aspects really make you excited to do what you do. Then, set your goals and objectives towards these single-minded purposes. You will then know your own purpose!