Today’s most innovative supply chain leaders see it as their mission to equip the clinical and service line teams with accurate cost and performance information. That way, the organization can make the right purchasing decisions when it comes to medical devices and other supplies. By doing so, they are strategically positioned at the center of some of the most important clinical and fiscal decisions for the hospital. 

Our recent Spotlight publication brings to light the importance of understanding the market shift from open-heart valve procedures to transcatheter valve replacements (TVR). Information like this empowers supply chain leaders with the data necessary to approach clinicians with data that can position them as a trusted partner in the organization. As we know, cost and quality are not mutually exclusive in the healthcare industry; better quality and more efficient care is less costly in the long run and leads to improved patient outcomes.

How do supply chain leaders find the “wins” in the overlapping space between cost and quality improvements?

When considering the industry shift from open-heart to transcatheter procedures for heart valve replacement, a supply chain leader should:

  • Capture and prepare information on cost of the new device or procedure
  • Evaluate reimbursement data to determine if the reimbursement difference alone is enough to cover the device introduction
  • Approach a service line leader to collectively research the patient candidate pool and determine organizational impact of this new device/product/procedure 
  • Leverage industry research highlighting the data around patient benefits and outcomes
  • Work in partnership with service line leaders to present the corporate/company benefits of purchasing the device

Looking at all of these factors holistically helps ensure that service line and clinical staff are equipped with the right information about both cost and outcomes to make the best decisions. 

How supply chain leaders can realize these wins

Ultimately, clinical leadership will make decisions about what devices are right for the patient in any given case, as they should, but supply chain leaders have a crucial role to play. They deliver the information necessary and needed to make such an important organizational decision. If clinicians want to move forward with a new device or procedure, supply chain leaders begin their work using solutions like Curvo to benchmark device cost, determine their strategy for approaching vendors, and automate the steps around the RFP to secure competitive pricing that drives profitability for the hospital.  

To discover more about the latest trends and utilization patterns related to heart valves, including Medicare reimbursement, top performing hospitals, and how innovations like TVR are impacting the industry, download Spotlight on Heart Valves & Valve Repair!