Value Analyst

Required Skills

1. Embodies the Memorial Health System Performance Excellence Standards of Safety, Quality, Integrity and Stewardship that support our mission, vision and values:

• SAFETY: Prevent Harm – I will put safety first in everything I do.  I will speak up, without fear, on matters of patient and colleague safety.  I will take action to create an environment of zero harm.

• QUALITY: Improve Outcomes –  I will continually advance my knowledge and skills.  I will seek out continuous improvement opportunities.  I will deliver evidence-based care that leads to excellence in outcomes.

• INTEGRITY: Show respect and Compassion  – I will respect others and show compassion.  I will behave honesty and ethically.  I will be accountable for my attitude, actions and health.

• STEWARDSHIP: Reduce Waste – I will use resources wisely and maintain financial stability.  I will work together to coordinate care and services across the health system.  I will promote healthier communities.

1. Obtains and negotiates bids on clinical and non-clinical supplies, which may impact multiple hospitals, departments, or processes. Identifies and collaborates on contract parameters, such as cost, market share and/or spend commitment, rebate incentives, and other related metrics. Determines the appropriate language and develops the contract (typical scope: up to $10M per individual project or up to $50M by contract portfolio.) Annual spend on drugs, supplies and contracted services is $400M for the health system.

1. Obtains clinical and non-clinical service agreements to be utilized across health system affiliates and departments. Negotiates pricing, level of service, and contract parameters such as warranties, performance guarantees, and other related metrics.  Coordinates with Contract Manager on legal review of agreements.

1. Obtains and analyzes clinical and non-clinical capital equipment quotes from all health system affiliates. Reviews with System Leadership Team to standardize equipment across the health system.  Negotiates pricing and contract parameters such as warranties, performance guarantees, and other related metrics.

1. Collaborates with System Leadership Team. Plans, develops materials for, and facilitates multi-disciplinary value analysis team meetings with the objective of identifying, implementing, and tracking performance of cost reduction initiatives for the health system.  Provides ongoing customer service to assigned departments.

1. Consults with executive leaders regarding requests for purchase of equipment and/or services. Researches and documents request specifications and conducts feasibility studies and reimbursement analyses as appropriate.

1. Analyzes and determines which requests require a Request for Proposal (RFP) and identifies which suppliers will be targeted. Develops and/or modifies RFP template language based on project scope and requirements. Develops a project plan with critical milestones and monitors the plan to ensure all steps are completed in a timely fashion.

1. Develops parameters for external bids, as necessary, and performs the necessary research to identify possible suppliers based on approved criteria and defined customer specifications, such as service needs, cost, relationship history, performance requirements, and supplier reputation and service orientation.

1. Uses a variety of software and analytical tools to perform complex data and cost analyses relating to new and/or revised contracts. This includes calculating projected fixed and variable costs, depreciation, and salvage.

1. Develops and maintains a wide variety of reports for utilization analysis, cost reduction opportunities, and product/capital/service identification and comparison purposes. Analyzes these reports and leads value analysis teams at the department level to assist with cost savings and product standardization.

1. Makes recommendations to executive leaders regarding identified trends or product utilization observations.

1. Collaborates on negotiation with potential suppliers in developing contract language, including performance and/or product guarantees, price tiers, and service metrics.

1. Tracks contracts’ service coverage period with supplier and monitors expiration dates to allow time for contract renewal or reevaluation.

1. Monitors ongoing provider performance for changes in cost, service, and utilization trends.

1. Secures the necessary review and approval for bid requests and contracts before implementation.

1. Keeps abreast of developing trends in product development, pricing strategies, and legislation affecting contracts within assigned area of responsibility.

1. Monitors and implements necessary strategies with assigned departments to assure that non-file purchases meet materials departmental standards.

1. Performs other related work as required or requested.

The intent of this job description is to provide a representative summary of the major duties and responsibilities performed by incumbents of this job.  Incumbents may be requested to perform tasks other than those specifically presented in this description.