Total Value Management: The Evolution of Value Analysis

How health systems mature from event-based decisions to a value-focused culture of collaboration.

A white paper by:

Dee Donatelli, MBA, BSN, CMRP, CVAHP
Director, Value Analysis Consulting, TractManager

Mark Kestner, MD
Chief Medical Officer, TractManager

Winifred Hayes, RN, PhD
Founder, Hayes, Inc.

Kristin Stitt, DNP, APRN-BC
Value Analysis Consulting Manager, TractManager

The first in a multipart series on managing total value within the healthcare system, this paper describes the five phases of decision-making maturity at work within the modern health system.

To learn more about how TractManager can partner with your facility to reach financial, compliance, and patient care goals, visit www.tractmanager.com today.

Total Value Management: The Evolution of Value Analysis

Abstract:

The modern American health system is an extremely complex environment characterized by a state of constant flux. Driven by both healthcare reform and technological innovation, financial pressures are changing the way care is delivered. As a result, health systems are realizing that to have a reasonable discussion about value, they must evolve operational processes.

The stakes couldn’t be higher: those who succeed will demonstrate a commitment to measuring and improving upon patient outcomes, while those who fail will negatively impact their organization’s strategic, financial, and clinical objectives.

As important as any other function within the health system, the measurement of value plays a large role in whether a hospital will adapt. That adaptation will depend upon an ability to evaluate and improve upon the maturity and integration of value- adjacent decision-making processes.