Pressures to decrease cost while simultaneously increasing quality are leading healthcare facilities to review and revise their investment in resources – people, services, capital equipment and products. The selection of products and services used in the delivery of care has become more complicated as new technologies and increasing severity of patient illness drive a need to balance cost and quality of patient outcomes.
The overall goal of the value analysis program is to develop and implement an organized and systematic approach through value analysis to determine the value of technology, products and services, while supporting and complementing process improvement, improved outcomes, safety and quality practices, and financial stewardship for Wake Forest Baptist Health.
By utilizing a specialized multidisciplinary committee structure, the value analysis process facilitates the review of all new products and services by the primary stakeholders for clinical effectiveness, efficiency and improvements in outcomes. Product standardization across departments and facilities is maximized whenever possible.
By sharing experience, resources, and strengths in order to work together, all Wake Forest Baptist Health facilities will apply scientific and focused value analysis to determine the most appropriate products, equipment and services, necessary to meet the requirements of the patients and staff.
Through system wide collaboration, we will develop and sustain a data-driven process focusing on products, equipment, services, processes and procedures whereby product selection and utilization decisions are based on meeting the functional requirements of the customer in the most efficient manner while maintaining quality and positive patient and staff outcomes.
Value analysis teams will review requests for evaluation, to include possible trials, and the decision to adopt the product/service or not. Teams are supported by a value analysis facilitator and an executive sponsor. Products/services are reviewed with consideration of the following criteria:
- Product quality
- Impact on patient outcomes
- System impact (how wide an impact if approved – one department, whole system or certain areas)
- Product effectiveness
- Price, storage requirements, regular availability, and packaging
- Contract compliance
- Operation and repair criteria
- Benchmark information
- Necessary education and training
- Safety and OSHA considerations
- Infection control and engineering issues
- Waste stream/environmental impact
Requesting a New or Replacement Product Review
To expedite the process, please download and complete the new product request form from in the forms section of the Intranet. If you are unable to locate, reach out to anyone in the personnel list above for assistance. If you have any questions about the form, also don’t hesitate to reach out. We are here to make the process as seamless as possible.
Please note that if you have product safety or performance issues it is very important that you keep the packaging information in order for us to assist you. Be sure to leave a telephone number where you can be reached and someone will get back to you as soon as possible.