Overview

Job Summary

Lead and oversee the clinical value analysis function within enterprise. Responsible for evaluating and optimizing the value of medical products, equipment, and services used in patient care. Primary focus will be on driving cost efficiency, improving patient outcomes, and ensuring the highest quality of care through evidence-based research.

Essential Functions

• Strategy Development: Collaborate with senior management, sourcing leaders, clinical leaders, and key stakeholders to develop the overall clinical value analysis strategy and goals aligned with the organization's mission and objectives. Define and prioritize areas of focus for value analysis initiatives.
• Clinical Product Evaluation: Lead the evaluation and analysis of medical products, equipment, and services used in patient care. Assess clinical and financial data, evidence-based research, and regulatory requirements to determine the effectiveness, safety, and cost-effectiveness of products. Collaborate with clinicians and experts to evaluate clinical outcomes, patient experiences, and the overall value delivered by various healthcare technologies and interventions. Oversee impartial new product trial and evaluation process and feedback collection.
• Cost Optimization: Identify cost-saving opportunities through comprehensive analysis of product utilization, pricing, and contracting. Provide insight to Strategic Sourcing partners to enable favorable negotiations on pricing, terms, and conditions with suppliers. Implement cost containment strategies, such as standardization of products and equipment, utilization controls, and value-based purchasing.
• Supplier Relationship Management: Establish and maintain strong relationships with suppliers and manufacturers. Collaborate with them to identify innovative solutions, evaluate new technologies, and drive improvements in product quality, safety, and cost-effectiveness. Monitor supplier performance, conduct supplier evaluations, and facilitate continuous improvement initiatives. Participate in business reviews with Strategic Sourcing partners.
• Cross-functional Collaboration: Work closely with clinical departments, finance, supply chain management, and other relevant stakeholders to understand their needs and priorities. Collaborate with these teams to align value analysis strategies with organizational objectives, clinical workflows, and patient care requirements. Develop effective communication channels and engagement strategies to foster collaboration and support decision-making processes.
• Clinical Integration: Collaborate with clinicians and care teams to ensure the seamless integration of value analysis recommendations into clinical practice. Engage in discussions with clinicians to understand their perspectives, address concerns, and facilitate consensus-building. Develop educational programs and materials to promote awareness and adoption of value-based approaches among healthcare providers. Make recommendations to appropriate functional teams regarding new product education and assist with supplier coordination.
• Data Analysis and Reporting: Establish metrics and performance indicators to measure the impact of value analysis initiatives on cost savings, quality improvement, and patient outcomes. Work with Analytics partners to analyze data to identify trends, monitor progress, and generate actionable insights. Prepare regular reports and presentations for senior leadership, highlighting key findings, achievements, and recommendations.
• Regulatory Compliance: Stay informed about relevant regulations, accreditation requirements, and industry standards related to medical products and services. Ensure compliance with applicable regulations and guidelines, such as FDA regulations, reimbursement policies, and safety standards.
• Team Leadership: Support a high-performing clinical value analysis team. Provide guidance, mentorship, and peer development opportunities to team members. Support a collaborative and inclusive work environment. Aid in guiding the team's capabilities to ensure alignment within the enterprise's clinical value analysis objectives.
• Continuous Improvement: Stay updated on industry trends, emerging technologies, and best practices in clinical value analysis. Foster a culture of continuous improvement, leveraging data analytics, technology tools, and industry collaborations to enhance the value analysis process and drive ongoing improvement in patient care delivery.
• Risk Mitigation: Develop and oversee supply risk mitigation strategies related to clinical value analysis including new item reviews, product concern report escalations, clinical input in solutions for recalls, discontinuations, and substitutions for enterprise standards.

Physical Requirements

This position requires limited regional and national travel, therefore, will be exposed to weather and road conditions.

Education, Experience and Certifications

License/Registration/Certification: RN - Issued by (Governing Body): Licensed in the state the teammate practices.

Bachelor's degree in nursing required OR 10+ years RN plus associated healthcare resource or materials management experience required.