Capital Equipment Track: How to Best Integrate Value Analysis into your Capital Equipment Processes
Date & Time
Monday, February 20, 2023, 2:30 PM - 3:30 PM

While value analysis (VA) on the clinical side of healthcare has received much attention and made great strides in the recent past, value analysis related to the capital process has received significantly less attention but presents a substantial opportunity for further rigor in developing cost reduction and process efficiency gains. This discussion will explore the importance of bringing supply chain and value analysis professionals and processes into equipment planning, RFI/RFP, and contracting processes and to share several situations where not applying VA principles had dramatic negative impacts on facility operations.


Learning Objectives:

1. Summarize the importance of a value-based mentality for capital projects as opposed to price-based thinking when working with vendors.

2. Explore ways value analysis principles can be useful in the predesign and renovation phases of projects.

3. Identify how well established VA processes of evaluating long-term value and costs often find things that third-party equipment planners won’t worry about.

4. Analyze the potential benefits of bringing a value analysis mindset to facilities decisions as well as capital.