Leveraging Supply Chain Leadership to Build Organizational Advantages 3) Value Analysis
As we continue our overview of AHRMM’s roundtable discussion it is becoming more evident that members of the supply chain have the unique ability to make significant contributions to organizational cost reduction goals. One way of doing this is through an emphasis on value analysis. Value analysis and standardization committees are being increasingly used to address supply cost containment.
Key to these committees is multidisciplinary representation including CFO’s, medical staff, risk managers along with supply chain professionals. However having the right people is only the first step, it is just as essential to equip these groups with timely and accurate data around supply utilization.
When equipped with the right data, members of these groups are positioned to drive immediate results by:
1. Optimizing on hand inventory and PAR levels
2. Standardizing and managing physician preference items
3. Increase procedure profitability by projecting costs compared to reimbursements
Mobile Aspects supply management technology couples accurate, real-time data with intuitive reporting and analysis tools. With this information, supply chain professionals receive a transparent view of supply utilization patterns. As an example, the aging report pictured above provides a view of how efficiently inventory is being used. Access to this data allows decision makers the ability to slice the data down to item location and usage by case levels. New York Presbyterian Hospital is just one example of how data provided by Mobile Aspects iRISupply system can be used to achieve cost reductions. Within Cardiothoracic Surgery the organization was able to reduce on hand inventory levels, saving $230,000 by adjusting par levels and optimizing purchase patterns.
As economic pressures to make healthcare more sustainable continue to mount care providers are beginning to implement supply chain strategies targeted at creating value. Mobile Aspects has made it a priority to provide healthcare organizations the data and tools necessary to manage their costs and align in their goals to create value through heightened supply chain management.