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Value Analysis Program for Cost-Effective Healthcare Improvement

The UTMB Value Analysis Program aims to reduce costs and enhance performance by optimizing product utilization and standardization. The program covers Nursing Products, Consumables, MICU, SICU, Billing Reimbursement, and more. Through a structured evaluation and approval process, the program ensures the incorporation of cost-effective solutions to maintain or uplift patient care standards.

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Value Analysis Program for Cost-Effective Healthcare Improvement

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  1. UTMB Value Analysis Program Objective: Reduce costs and improve performance through cost-effective utilization and standardization of products/devices, equipment, new technology and related processes while maintaining or improving the quality of patient care

  2. New Value Analysis Structure Nursing Products & Routine Consumables Cost Management Team MICU, SICU, BICU, ISCU, Nursing Education, OB/Gyn, Med/Surg, Transplant, Oncology, Hemodialysis, ACE, Pediatric, ED, Clinics, Respiratory, Pathology, TDCJ ICU, TDCJ Med/Surg, TDCJ Clinics, Epidemiology CES, Data & Analytics, Clinical Purchasing, Value Analysis, Materials Management, Administration Supply Management Team CMT Facilitators, Value Analysis, Data & Analytics, Clinical Purchasing, Billing Reimbursement

  3. Product/Equipment Evaluation and Approval Process Phase Requirements Outcomes “DEMO” • Follow vendor policy for appointment and venue • May not be used on patient • Coordinated at Department Level • If an evaluation is desired, follow evaluation process • If not pursuing further, notify vendor “Dog & Pony Show”. Held in Conference/Break Room/Office. No clinical use. Vendor rep may or may not be present. • New Product Request form/cost analysis fully completed and submitted to Value Analysis for O.K. to evaluate • Vendor Release Form Completed • May not be evaluated without V.A. approval • Coordinated at CMT level • “Evaluation” Purchase Order created “EVALUATE” • Request form/cost analysis reviewed at CMT level • Follow decision grid for approvals • Products @ “no charge” or Funding approval required Involves clinical/patient use. Vendor may or may not be present. • Completed evaluation • Cost justified, clinically acceptable • Decision approval @ appropriate Value Analysis level • Request denied may be resubmitted after 12 months • Product added to “Approved Product List” • Coordination with Clinical Purchasing for acquisition • If applicable, discontinue use of product replaced “ACQUIRE” Clinical Evaluation/Cost Analysis completed and product or equipment submitted for Approval.

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