Message from AHVAP President-Elect

I have come across a few discussions where it was stated that value analysis in healthcare is a slow, cumbersome process — with decisions taking as long as eight to nine months. My firm belief, however, is that this delay isn’t a failure of the value analysis methodology itself but rather an indication of a poorly executed process. When done correctly, value analysis is a streamlined, data-driven, and collaborative tool for optimizing decision-making and enhancing both quality and cost outcomes.

Delays in the value analysis process are often symptoms of larger systemic issues. This may include a lack of stakeholder engagement. Without engaged stakeholders at the table early on, decisions may get stalled or revisited later, prolonging the process. There may be an issue with access to good, reliable data. When teams don’t have timely access to the right data — on costs, outcomes, IFUs, or market comparisons — analysis can drag out as data is manually collected. There may be inefficient workflows at play. These processes can easily get bogged down by unclear roles, redundant steps, or analysis paralysis. Finally, there may be an over-reliance on traditional systems. Many healthcare organizations still use outdated tools or siloed operations, leading to inefficiencies.

To ensure value analysis projects move quickly without sacrificing quality, organizations should adopt modern approaches and tools to streamline their workflows and boost decision-making efficiency.

• Early Engagement and Alignment of Stakeholders: Ensure that all relevant stakeholders — clinical, financial, and operational — are brought into the conversation from the very beginning. Establish cross-functional teams with clear roles and responsibilities and set shared objectives to align goals.
• Leverage Analytics and AI-Driven Tools: Having the right analytics can significantly enhance the speed of decision-making by providing trend information, identifying cost-saving opportunities, and projecting clinical outcomes. AI-driven tools can also help analyze large volumes of data quickly, offering insights into product performance and usage.
• Adopt a Criticality-Based Framework: Not every value analysis project requires the same level of scrutiny. Implementing a tiered framework where smaller, less complex decisions are fast-tracked while larger, high-impact projects undergo more detailed analysis can help move projects through the pipeline more efficiently. This allows organizations to prioritize high value projects and avoids unnecessary delays on routine decisions that could be addressed more quickly.
• Implement a Centralized Platform: Many delays in value analysis stem from fragmented communication and siloed data systems. Implementing a centralized platform can give teams access to relevant data, streamline collaboration, and reduce bottlenecks. These platforms allow everyone to view the same up-to-date information, enhancing transparency and speeding up decision-making.
• Set Clear KPIs and Benchmarks: To drive a sense of urgency, healthcare organizations should establish clear key performance indicators (KPIs) for the speed of their value analysis processes. KPIs could include the average time to complete an analysis, time to achieve ROI on decisions, or the number of fast-tracked projects completed each quarter. Benchmarking against peer organizations or setting internal improvement goals can help maintain momentum and ensure continuous process improvements.
• Create a Value Analysis Task Force: Form a specialized, agile team of experts who are dedicated to accelerating high-priority value analysis projects. This Task Force could consist of clinical, financial, and operational professionals who are skilled in rapid project execution. They would focus on high-value projects with tight timelines, ensuring that decisions are made quickly and efficiently without compromising on thoroughness.

The perception that value analysis takes too long isn’t an inherent flaw of the process itself — it’s a reflection of poor execution. By adopting strategies like stakeholder alignment, leveraging analytics, implementing digital tools, and creating agile teams, healthcare organizations can drastically reduce the time it takes to complete value analysis projects.

Speeding up the value analysis process is not just possible, but critical in today’s fast-evolving healthcare environment, where timely decisions can lead to significant cost savings and better patient outcomes.

Sincerely,

Anne Marie Orlando, MBA, RN, RCIS, CVAHP™, FACHDM, PNAP, FAHVAP
President-Elect, Board of Directors
AHVAP