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At the Cost, Standardization Focus stage of a hospital’s value analysis process, technological standardization has commenced, but it is limited to a small number of similar products. With the goal of waste reduction, the process begins a gradual movement from chaos to a more transactional approach. Stakeholders from different departments begin to collaborate in decision-making, […]
The New Product Approval, Cost Focus stage of a hospital’s value analysis process is characterized by a basic standardization around commodities. Cost and volume become the primary decision-making factors. Even if a hospital at this stage has a value analysis team or professional on hand, the process will be immature, and the prime considerations will […]
Demand-Driven Focus is the first — and least mature — stage of a hospital’s value analysis process. This stage is a vestige of the days when health systems were able to determine both the technologies they used to deliver care and the prices they charged patients. Value analysis in this model is characterized by a […]
Laparoscopy, the current standard method of practice in abdominal operations, uses rigid scopes. The method is considered minimally invasive; when compared to open procedures, it results in smaller incisions, less bleeding, shorter recovery time, and less post-operative pain. Contrasted with rigid procedures, flexible endoscopy is performed via access to natural body orifices rather than incisions, […]
American hospitals and health systems must balance financial pressures, technological innovation, and the ever-changing expectations of their patients, professional staff, and regulators. Whether a hospital can adapt to these demands depends in large measure on its ability to assess value. Hospitals and even different departments within the same hospital tend to exhibit a variety of […]
According to the National Cancer Institute, in 2018 an estimated 266,000 women were diagnosed with breast cancer, and nearly 41,000 women died from the disease. Now the U.S. Food and Drug Administration (FDA) has proposed amending current mammography regulations issued under the Mammography Quality Standards Act of 1992 (MQSA). Most of today’s mammography regulations are […]
Healthcare organizations tend to classify capital equipment service contracts into different categories. Service contracts may be the responsibility of the purchased services team or of the capital procurement team, or have their own division within the Supply Chain. The most mature Supply Chain departments have their own maintenance agreement division responsible for all external service […]
Mergers & Acquisitions have altered the healthcare landscape dramatically over the past decade, and the activity continues to accelerate and evolve. M&A in healthcare has become an essential reality with the transition to value-based care, and Supply Chain plays an integral part in executing the strategy and capitalizing on the newly created value related to […]
Everyone knows that to succeed in your job, you can’t do it alone. Collaboration with others leads to all success, whether producing innovation, growing a business, or reducing costs. While people talk about how collaboration is the key to success, one question comes to mind: How do you make cross-departmental collaboration occur when there is […]
Since its founding in 1989, Hayes, Inc. has set the standard in the healthcare industry for evidence-based, clinically sound processes that improve the quality and the cost-effectiveness of healthcare delivery. For proof of the efficacy of this approach, consider an article that appeared in March 2019 in JAMA Network Open, a publication of the Journal […]
The first bioresorbable vascular scaffold (BVS) stent to enter the market was Abbott’s ABSORB, a drug-eluting polymer stent that received CE Mark approval in 2011 and FDA approval in 2016. However, this was a short-lived stent, and Abbott ended U.S. sales in September 2017. According to an AHA/ASA Journals report, “Three-Year Outcomes With the Absorb […]
As healthcare continues to move toward data-driven decision-making on all fronts, hospital operations and business processes are no exception to this trend. The industry is shifting to value-based payments and episode-based payments, and hospitals and health systems are required to look at their overall spending and costs associated with rendering various services more closely than […]
Infant security—along with proper identification within the healthcare setting—is a standard of care. Best practice guidelines include an abduction prevention plan, parent education, the elimination of published birth notifications, a visitor checkpoint with issued photograph/name identification, current photograph/name badges with unique identifiers worn by all staff, controlled access to nursery and postpartum floors, baby and […]
(This is the final installment of a six-part series examining the role of clinical evidence in capital planning.) Let’s consider a hypothetical 400-bed acute care hospital in Phoenix. With a well-respected cardiothoracic program serving the community’s large and growing population of aging retirees, the CEO has decided to pursue AHA/ACC accreditation as a Cardiovascular Center […]
(This is the fifth installment of a six-part series examining the role of clinical evidence in capital planning.) It’s important to understand the objectivity, validity, comprehensiveness, and usefulness of any clinical evidence being relied upon during the capital evaluation process. Objectivity: Papers based on research studies that have been cherry-picked to support a particular position […]
