Virginia Mason Medical Center Value Analysis Project Improves Standardization and Amerinet Contract Compliance, Results in $766,000 in Cost Savings

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Amerinet member Virginia Mason Medical Center (VMMC) recently established formal cross functional value analysis teams in several different areas of the facility, which resulted in improved standardization and Amerinet contract compliance, and a documented savings of $766,000.

Amerinet member Virginia Mason Medical Center (VMMC) recently established formal cross functional value analysis teams in several different areas of the facility, which resulted in improved standardization and Amerinet contract compliance, and a documented savings of $766,000.

VMMC initiated the project to enhance the product value analysis function under the leadership of Bill Knight, value analysis manager. “Although the concept of the value analysis team was not novel, the degree of involvement of the clinical arenas was innovative,” said Knight. Value analysis teams (VATs) were established in areas including operating room, lab, GI/endoscopy, IR/radiology, nursing and the regional medical centers. The teams include members from each specific area plus the “core four”: the value analysis manager, a physician advisor, clinical product review specialist and a contract utilization analyst (an employee of Amerinet affiliate Health Resource Services).

A standard agenda was established for each team and each product was assessed according to several different criteria. Previously, almost every clinical area had its own product assessment teams with only peripheral supply chain involvement. The new, comprehensive value analysis teams allowed supply chain to be an equal partner in decisions regarding new products. The collaboration of physician and clinical champions fully addressed clinical efficacy aspects and also brought a level of credibility to product choices.

“Collaboration was integral to the success of the teams. The involvement of physicians and clinical staff from the beginning allowed everyone to fully engage, understand the needs of each stakeholder and fully align goals,” said Knight.

The value analysis teams improved standardization and Amerinet contract compliance, leading to a documented cost savings of $766,000. This also decreased inventory and increased quality and safety of product usage. The teams also respond to product safety issues and are able to identify similar, higher quality products without increased expenses.

Read the full success story.

About Amerinet
As a leading national healthcare solutions organization, Amerinet collaborates with acute and non-acute care providers to create and deliver unique supply chain solutions through performance improvement resources, guidance and ongoing support. With better product standardization and utilization, new financial tools beyond contracting and alliances that help lower costs, raise revenue and champion quality, Amerinet enriches healthcare delivery for its members and the communities they serve. To learn more about how Amerinet can help you successfully navigate the future of healthcare reform, visit http://www.amerinet-gpo.com.

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Evan Danis
Amerinet
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