The
Value Analysis Manager
reflects the mission, vision, and values of NM, adheres to the organizations Code of Ethics and Corporate Compliance Program, and complies with all relevant policies, procedures, guidelines and all other regulatory and accreditation standards.
The Value Analysis Manager (VAM) is responsible for driving organization-wide product and service change, and serves as an internal advocate of NMs product/service standardization/utilization initiatives working through and effectively managing traditional barriers to improvement, analyzing to identify problems, formulate alternative solutions, understanding cost models, and determining clinical acceptability. This individual will coordinate new product or service introduction, trials and overall change initiatives on behalf of end users at all NM facilities which will requiring traveling to all locations.
The Sourcing and Contracting Departmental mission is to ensure the preservation and improvement of the quality of patient care while reducing or maintaining costs and risks related to the procurement and the use of products and services at all NM business units and facilities through collaborative efforts and effective communication by a mode of service line steering teams and specialty sub-committees.
Responsibilities:
Consulting/Utilization Analysis:
- Leads and manages multi-disciplinary project teams/clinical specialty committees responsible for product/service introductions, value analysis and utilization review consistent with NM policies and procedures.
- Develops strategies and identifies process improvements that are focused on substantial supply/service cost reduction, standardization and utilization, while maintaining or enhancing quality.
- Oversees opportunities and develops qualitative/quantitative analyses and methodologies for product/service utilization and cost reduction efforts focused on cost containment, utilization, waste reduction, and overall cost per service.
- Reviews and assesses applicable financial, clinical, and operational data, as well as evidence based literature to assist teams in evaluating new supplies and new technology, using evidence based clinical data, benchmarked best practices and data driven analysis.
- Supports new product/service requestor in preparation of information/presentations and facilitates meetings between staff, physicians, and other appropriate parties in support of projects.
- Develops and maintains collaborative relationships with clinical, administrative, and healthcare system executives and staff to ensure effective, results-oriented project outcomes.
- Documents identified and implemented cost savings initiatives and audits projected utilization and actual spend.
- Participates in developing new programs, training efforts, product/service trials, departmental or organizational goals and projects, etc.
Communication/Advocacy:
- Serves as a clinical liaison to executive leadership to maintain and communicate Key Performance Indicators (KPI) for clinical and financial performance measurements related to value analysis.
- Facilitates communications and applicable clinical literature to support product utilization, product conversions and additions, trials and committee activities.
- Records and prepares product and service utilization reports and updates.
- Introduces and educates departments and end users regarding applicable sourcing/procurement/ analytical tools that assist with tracking product requests, monitor spend/utilization, and product information.
- Promotes NMHC philosophy for implementing supply chain cost improvement initiatives, new product and service introductions and organizational goals.
Product and Service Screening:
- Serve as intermediary between Strategic Sourcing Managers and end users, helping to screen and analyze new product introductions.
- Coordinate inservicing with end users for new product introductions, trials and product conversions.
- Work with Group Purchasing Organization(s) to identify cost savings opportunities, program initiatives and best practices.
Additional Functions:
- Assist the department in developing new opportunities, monitor existing strategic contracts to enhance vendor performance and fulfillment, utilizing leveraged spend, research current contracts for deeper discounts, reducing costs while maintaining quality, and base decisions on fact analysis and market intelligence.
- Assist the department in directing a clinically focused and user driven, financially responsible product and service evaluation and selection process with a focus on utilization, waste reduction, and overall cost per service reduction.
- Deliver presentations to a variety of audiences at various levels.
- Travel during the business day to various hospitals/facilities within the system is required and some out-of-area and overnight travel may be expected.
- Additional duties as directed.
Required:
- Bachelor of Science or Bachelor of Art.
- 5+ years of relevant experience.
- Demonstrated ability to facilitate change and achieve savings goals.
- Ability to organize workload and set priorities.
- Project management experience with ability to initiate and complete projects with measurable outcomes.
- Understanding of financial analysis and quantitative/qualitative assessment data.
- Ability to organize workload and set priorities.
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Preferred:
- Minimum of three to five years of clinical (preferably in-hospital) experience.
- Masters degree in Business Administration or Health Care Management.
- Advanced skills in spreadsheet, word and presentation computer applications (PowerPoint).
- Consulting or group presentation skills.
- Strong communication skills, negotiating skills.