With the move to value-based healthcare, Value Analysis is becoming a strategic imperative for providers. Value Analysis is defined by the Association of Healthcare Value Analysis Professionals (AHVAP) as a “systematic process to review clinical products, equipment and technologies to evaluate their clinical efficacy, safety and impact on organizational resources.”
Value Analysis teams are at the center of financial, clinical and supply chain functions. They draw from these resources to analyze the value of products in delivering high quality, cost-effective care. As Value Analysis becomes an essential tool for providers to continue delivering patient care, it’s important to remember that it is only as good as the data used. Quality, accurate data is critical if Value Analysis is to drive quality insights and significant improvements.