3 Tips to Improve Your Value Analysis Workflow
Value Analysis is a complex process with so many moving parts. Here are some effective ways to save you time and headaches:
1. Divide & Conquer: Use Subcommittees
Using one large value analysis committee to evaluate and make approval decisions around all new products is ambitious for any hospital. Many facilities have found that dividing the value analysis committee into various subcommittees based on hospital departments (Cardiology vs. Neurology) or type of product under review (Class I vs. Class III) can make value analysis more manageable for all parties involved. Managing fewer, relevant products helps the team remain engaged in the process.
2. Seek Out Opportunities to Standardize
Often times, one new product can replace several currently in use by a hospital, sometimes across several departments. These cases hold notable savings opportunities as purchasing a higher volume of one product often results in a discount by vendors and distributors. Sharing product approval decisions across departments can aid in higher utilization and cost savings for your facility.
3. Connect Team Members with One Tool
Those involved in value analysis should have access to all conversations around new product reviews. Communication is key in making value analysis decisions, with multiple factors to consider and valuable insights from many different people. A solution like GreenLight Medical makes communication and product information available in one place, preventing multiple modes of communication and data access (email, Microsoft SharePoint, spreadsheets).
GreenLight Medical is here to manage the unnecessary complications that can arise within new product review. GreenLight is a free, digital, all-in-one, cloud solution to enable online collaboration between hospital staff, physicians, and medical suppliers.
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