Simplify the New Product Decision-Making Process for New Products

Standardize and automate the decision-making process using workflow software.

“We need masks now!” The new healthcare environment surrounding the COVID-19 pandemic has forced healthcare organizations to simplify and speed up the decision-making and purchasing processes for new products. With staff working remotely, committees need to be able to review information, discuss the options, and make collaborative decisions in a virtual environment.

A large healthcare organization can receive 40–50 new product requests per month. Committees must evaluate vast amounts of product information to make the right decision regarding each request. When done manually, product evaluation and decision-making can take several months. That’s too long to wait when staff and patients need personal protective equipment (PPE) and other medical equipment immediately.

You need a simpler, faster decision-making process. Value Analysis—a systematic approach to reviewing new technology—holds the key. An effective value analysis process, powered by workflow technology, helps you make objective purchasing decisions based on hard evidence, not subjective opinions.

RELATED WHITE PAPER: Total Value Management: The Evolution of Value Analysis

You can simplify the new product decision-making process by taking these steps:

Follow a standardized, organized, stepwise decision-making process that everyone can understand and visualize. Providers and other key stakeholders need to be able to see where the request is in the decision-making process. Automated workflow technologies standardize your value analysis decision-making process and provide transparency and visibility.

Automate the intake of new product requests. Providers should be able to submit their requests electronically. Streamline the request screening process by asking the right, standard intake questions: Is the product FDA-approved? Is the vendor certified? Suppliers should also be able to electronically submit the product information you request.

Include the right people in the decision-making process. Experts and clinicians who will be using the requested product should be involved. An orthopedic surgeon is probably not the best person to evaluate a new pacemaker, but that surgeon may be the right clinician to review new imaging technology. Automated workflow routes information to the right group of people to evaluate each new product request.

Gather and organize decision-support data efficiently. Your value analysis team will need to collect a lot of information—such as clinical evidence, safety data, cost, and contract information—from many sources. Project management software automatically generates tasks, requesting specific documentation/reports from particular people, in the right order. One expert may need to review certain information (coming from another source) before providing related data.

Store decision-support data in a central, electronic repository. Your decision-makers need easy access to vital information, so they can review it at their convenience and engage in virtual discussions. They shouldn’t have to wade through their inbox to find the relevant report or wait until next month’s committee meeting.

Take advantage of workflow automation. Workflow software automates the decision-making process, distributing the right product data to key stakeholders, who engage in virtual discussions and collaborative decision-making.

MedApproved, TractManager’s workflow software, automates the decision-making process so you can make the right decisions, faster. MedApproved packages and organizes decision-support data in one workflow platform, simplifying the distribution of the right information to the right people.

Are you ready to take the next step in your decision making process?  Download TractManager’s white paper, “Total Value Management: The Evolution of Value Analysis” to learn where you are on the Value Analysis Maturity curve.

Author:

Dee Donatelli

Vice President, Professional Services

Dee Donatelli joined TractManager in 2018 as the director of Value Analysis Consulting.

 

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