Healthcare Value Analysis Bridges the Gap Between Clinical Staff and the Supply Chain
VA professionals can assist a healthcare institution ’ s infection preventionist ( IP ) and clinicians with managing products around key clinical imperatives , healthcare-acquired infection ( HAI ) reduction efforts , as well as initiatives built around cost reduction and utilization issues .
— Gloria Graham , DNP , RN , CVAHP
By Kelly M . Pyrek
One of the lessons learned during the COVID-19 pandemic is the importance of onboarding medical products properly , ensuring that busy clinicians are prepared to implement these patient-care devices and commodities , especially under the duress of a public health emergency . Value analysis ( VA ) professionals are key colleagues to infection preventionists and healthcare epidemiologists and other hospital stakeholders because of their ability to bridge the gap between clinical staff and the supply chain process .
Healthcare value analysis is the art and science of using evidence-based data , professional experience , and an understanding of the cost / quality continuum to guide a healthcare institution ’ s clinical staff in the product selection process and assist with the resolution of quality concerns . And as the Association of Healthcare Value Analysis Professionals ( AHVAP ) explains , “ Healthcare value analysis contributes to optimal patient outcomes through an evidenced-based systematic approach to review healthcare products , equipment , technology and services . Using recognized best practices , and in collaboration with organizational resources , value analysis evaluates appropriate utilization , clinical efficacy , and safety issues for the greatest financial value .”
Those principles and practices were shared recently through a series of sessions that were part of AHVAP ’ s virtual annual conference , held in late October , to educate healthcare stakeholders from all across the spectrum , as well as value analysis professionals , who are dedicated to serving clinicians and multi-disciplinary teams to ensure optimal patient outcomes through clinical efficacy of healthcare products and services .
Gloria Graham , DNP , RN , CVAHP , past-president of AHVAP and chair of AHVAP ’ s Industry Business Education Collaborative ( IBEC ) Committee , in a session called “ Value Analysis 101 ,” presented an introduction to VA principles , explaining that as a discipline , VA was introduced in the 1940s , at a time when World War II was raging and resources were limited – not unlike what the healthcare industry and others were experiencing during the early onset of the COVID-19 pandemic . Graham explained that General Electric engineer Lawrence Miles is generally credited for establishing VA during his search for ways to substitute materials and products for the manufacturing process . Through his analysis , he determined that the substitution materials and products were more than adequate in terms of their quality , cost and overall value . This led over time to the creation of a more systematic process for procurement , known as “ value engineering ,” according to Graham . Miles defined VA as “ a complete system for identifying and dealing with he factors that cause un-contributing cost por effort in products , processes or services .”
In the early 1990s , Graham said , VA was introduced into healthcare at a time when the sector was seeing sweeping changes in reimbursement models , where facilities were moving away from the concept of fee-for-service . “ It was then that people were beginning to see the potential benefits of VA for healthcare ,” Graham said .
Value analysis encompasses value , function and cost , and the classic formula is value equals quality divided by cost . During chaotic upheaval of the healthcare reimbursement system , healthcare facilities saw that VA could offer them shelter from the storm . According to Graham , the key drivers for the crossover of VA into healthcare included a change in reimbursement , insurance , and utilization , as well as evolving delivery models . “ Value analysis has become the foundation for healthcare to navigate the changing landscape ,” Graham commented .
Today , healthcare VA is comprised of strategic elements and is more than just bringing in new products .
“ VA is in the forefront more than ever , with VA professionals