Why and How You Need to Monitor Multiple Value Analysis Metrics in a Single Dashboard to Ensure VA Success

business, technology, statistics and people concept - close up oI would think most value analysis coordinators, managers, or directors are tracking some metrics (e.g., savings, VA meeting attendance, and projects completed) on a spreadsheet, but there comes a time when this vital information turns out to be too cumbersome, unwieldly, and non-user friendly to be helpful.

 

That’s when a single dashboard that can hold, accumulate, and then display all of this vital information for all to see can save the day. However, this will require a database that you rent, buy, or develop to do so! Yet, it is mission critical to have these VA metrics displayed in an easy-to-read format at your healthcare organization.

 

What Metrics Should You be Tracking with Your VA Dashboard?

 

The following is a short list of the metrics that we either recommend to our clients or our clients are already employing to measure, manage, and control their value analysis program:

 

VA Program Savings Goal for FY

Status of all Projects by Team

Percentage Goal Saved to Date

Total Implemented Savings to Date

Average Savings per Project

Projected Remaining Savings for FY

Last Year’s Avg. Savings per Project

Projected & Implemented Savings

VAT Category Savings to Date

Project’s Shortfall this FY (if any)

Active vs. Completed Projects

Project’s Shortfall Percentage

Attendance (%) at VA Meetings

Attendance (%) for Team Leaders

Imagine these metrics being automated in real time on your systems and you not having to crunch a dozen or more spreadsheets together to keep this going. The time has come for your hospital to up its value analysis key performance game!

Posted in: FREE eNewsletters

About the Author: