HERE’S HOW WE WORK
Value Capture offers a different model, one that provides a pathway to profound change and continuous improvement.
Today, many health systems are charged with cutting costs. While a common reaction is to reduce staff, services and procedures, the common results are reduced performance, safety and satisfaction. To make matters worse, the financial woes continue.
The Goal: Perfection
We teach a leadership framework that inspires, unleashes and equips your staff to close the gap between their current performance and a target of ‘perfect.’ This quest for excellence has proven to have a remarkable outcome – the elimination of waste and excess costs. With this approach, drawn from the world’s most successful organizations and honed in healthcare by our principals, you will capture value for your patients, employees and bottom line – on a continuing basis.
The Process: Embedding Improvement
Our process is customized according to the needs of each client. It typically starts by helping you identify and articulate one or two values-based goals, set at the level of perfect. An example might be the goal of perfect patient or staff safety, which you can focus on one unit, one hospital or an entire health system. For many clients, we’ll then help you deploy a problem-solving infrastructure capable of moving more rapidly toward those goals. It will also help shift your culture and develop the capability to move many other important measures house wide. This requires embedding improvement into everybody’s daily work, rather than having improvement as a separate function that feels added on to work.
To make sure the same skills are being used to drive the core metrics of your business, we also help your team use them to redesign core service “pathways” or “value streams,” end to end. We follow these classic steps to process redesign:
We teach you and your leaders to systemically eliminate all error and waste by equipping everyone to redesign work processes and providing you with the problem solving experience and structure necessary to continually improve.
We guide you and other hospital leaders in each sequential step of process redesign, helping hit defined outcomes and transferring necessary skills so that leaders can replicate results in scalable fashion through the involvement of the entire workforce.
Finally, we’ll help you ensure that your daily management system fully aligns management with improvement by everyone, every day, toward your top level goals.
Our underlying philosophy is that the people who do the work are the people best positioned to improve the work, given the proper support and structure. Further, much faster rates of improvement and higher levels of performance are possible when everyone in the organization is aligned for daily improvement, versus the specialized silo approach common to most organizations.
Value Capture Transformation Model
HERE’S WHAT WE EXPECT TO HAPPEN
- Problems and waste related to lack of coordination are rapidly reduced.
- Setup is in place for more rapid system redesign. This initial phase alone can produce a 15:1 return on investment in large institutions and a $10,000 per bed benefit in all institutions, depending on service lines.
- Quality outcomes approach perfect with a corresponding long-term outcome of 30-50% reduction in non-personnel costs.
- You and other leaders have the experience necessary to begin to replicate results in scalable fashion through the involvement of the entire workforce.
- You and other leaders also use our support to ensure that your management system evolves to be fully compatible with your value-creation framework, in order to sustain and accelerate gains.
SOME OF OUR RESULTS AT A GLANCE
Here are examples of the value we’ve been able to help capture for organizations like yours:
- Elimination of CLABs and dramatic reduction of other infections, resulting in 80 fewer deaths and $8 million benefit to the bottom line
- 66% drop in safety incidents reaching a patient or a staff member achieved in one year
- 80% drop in infection rate, with $6.5 million benefit to the bottom line
- 24% drop in OSHA recordable injuries, including 94% drop in highest risk department
- 50% reduction in medication errors while reducing operations costs by $500,000
- Eliminating hunting and fetching for equipment, saving 11 FTE in nursing time, while reducing equipment maintenance costs
- 80% drop in IV drug waste
- $1.3 million reduction in pharmacy inventory, while reducing stock-outs 84%