Integrating Value Analysis Into Healthcare Operations
Every healthcare provider has the same outcome in mind. That is to provide their patients with life changing, quality care that is unparallel to any other. There is no doubt that though all hospitals, clinics, and health facilities strive toward reaching the best care that they can provide, some do so in a more efficient and effective way than others.
Value analysis is a concept that is not foreign to the healthcare industry, but that has gained importance over the past few decades. The idea of value analysis revolves around reducing clinical costs, while maintaining and improving upon the care that patients receive. Doing so takes careful consideration as to how and where costs can be cut, which can be difficult without knowledge of medical markets. Not only does value analysis look at reducing expenditures, but also at how physicians and administrators can increase productivity and performance. Setting and attaining goals and objectives, and ensuring communication runs smoothly across all levels of the operation are other factors that contribute to value analysis.
Clearly, value analysis cannot be conducted by just one, or a few individuals. For most healthcare providers, compiling a value analysis team is the only way that an organization can ensure every aspect to the process is carefully looked over. Procured Health, a leader in clinical resource management technology, believes value analysis teams are essential to a hospital or clinic’s overall success, simply because in order to run an efficient business, a careful look needs to be taken at every every piece of the puzzle, every step of the way.
One of any value analysis team’s main priorities should be researching the value of the purchases an organization has made, and comparing products to see if there is a way to find the same device or application for a lesser fee. Medical markets are not usually transparent, so careful consideration is needed to be sure that a decision made is one that will not compromise the quality of the care a patient will receive because of alternative medical equipment. Improving on costs directly correlates to patient care, as funds can be better used elsewhere to benefit patients.
Setting performance indicators is another way that value analysis teams can be sure that physicians are using best care practice protocols in their work. By tracking performance, people are held accountable for their actions and can set goals to work towards in order to provide quality care. If there is an area that needs improving, value analysis will point out the area before a problem arises later on.
Value analysis teams often have a difficult job managing reports, expenditures, and performance indicators while compiling research to determine where improvements can be made. To alleviate some of the complications that come with integrating different parts of an organization across many systems, Procured Health has created comprehensive systems to streamline the process. A Value Analysis Team Dashboard is one way to improve on the organization of the value analysis team’s responsibilities. The Dashboard lays out specific metrics that can be customized by any healthcare provider, resulting in a one-stop platform for financial, clinical, and operational details to be kept. EvaluationPRO is another comprehensive system that incorporates objectives, decision making strategies, best care protocols, and side-by-side comparisons to easily analyse where improvements can be made.
To learn more about the importance of value analysis in the healthcare industry, visit http://procuredhealth.com/.