hospital value analysis

Important Lessons for Continued Results with Purchased Services Value Analysis Teams

Purchased Services

Important Lessons for Continued Results with Purchased Services Value Analysis Teams

A great way to focus your Purchased Services Cost Reduction and Sustainability Program is to utilize a value analysis team to review, analyze, and monitor your purchased services on an ongoing basis. Even though you may have some contract managers already given the responsibility to facilitate the contracting process, you can still gain high savings and overall functional value from your purchased services with a team approach. Following are some important lessons to consider when deploying a purchased services value analysis team that have been proven to work for me and my firm for the past 29 years in working with hospital purchased services.

Three Major Cost Savings Beyond Price Elements for Your Purchased Services Program

Purchased Services

Three Major Cost Savings Beyond Price Elements for Your Purchased Services Program

Most organizations look at purchased services only from a contract price standpoint to the value provided by the vendor. This keeps the negotiations and transactional aspects of the vendor relationship very simple in the purchased services side of supply chain. Now with group purchasing having valued contracts in the purchased services space, this only enhances the contract price savings for supply chain professionals. I guess this means our job is done with purchased services, right? Or are there still major dollars being left on the table? The answer is yes, because you can still look beyond price to save even more, and you don’t have to wait until the contract renewal process to go after these savings.