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Evidence-Based Value Analysis: Using Scientific Evidence to Drive Quality and Reduce Costs

April 3, 2012

Offering Strategies to Improve Traditional Value Analysis

Most hospitals and healthcare systems already use traditional value-analysis processes that incorporate pricing and standardization strategies to the purchase of consumables, devices, and, in particular, physician preference items to drive down costs and improve efficiency. To improve the utilization and clinical value hospitals realize from their purchases, we advocate an evidence-based approach that includes an evaluation of effectiveness and safety, operational impact, and return on investment, both clinical and financial. When championed by key physicians and C-suite executives, this process can be highly successful.

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