Healthcare Value Analysis & Cost Optimization Manager

Baptist Memorial Health Care Corporation; Memphis (TN); On-site; USD 85,000 - 105,000; Full time

Job summary

Baptist Memorial Health Care Corporation is seeking a seasoned Value Analysis/Supply Chain professional to support product standardization, utilization, and expense management at the facility level in Memphis. The role involves evaluating product requests, guiding policy updates, and coordinating with clinical and administrative staff to optimize costs and outcomes.

The ideal candidate has 5 years in healthcare, a BS, and strong analytical and presentation skills, with experience in supply chain

Qualifications

• 5 years of work experience in health care.
• Bachelor's of Science Degree (BS) required.
• Supply Chain experience preferred.
• Experience in cost containment and expense management.
• Strong analytical and presentation skills.
• Proficiency in Microsoft Office tools; Access preferred.

Responsibilities

• Utilizes product selection guiding principles to evaluate new product requests.
• Streamlines the new product entry process per timelines.
• Facilitates value analysis teams and annual goals for utilization.
• Evaluates standardization opportunities using ERP data and leadership input.
• Reviews policies related to product utilization standardization.
• Maintains cost saving tracking and communicates budget adjustments.
• Interacts with clinical staff to gather feedback for product decisions.
• Ensures safety, regulatory, and epidemiology issues before product selection.

Skills

Cost containment

Expense management

Analytical skills

Presentation skills

Project management

Interdepartmental collaboration

Microsoft Office

Education

BS; RN

Tools

MS Access

Microsoft Office (Word, Excel, PowerPoint)

Job description

Overview

Job Summary

This role is responsible for, providing support for product standardization, utilization and expense management at the facility level. Assesses and recommends best practices, and process improvement to optimize utilization and/or reduce costs.

Responsibilities

• Utilizes the product selection guiding principles to evaluate all new product requests
• Streamlines the new product entry process with adherence to established timelines.
• Facilitates product utilization teams in developing and implementing annual goals and objectives.
• Evaluates and prioritizes standardization and/or utilization opportunities using information obtained via the ERP system, manufacturer and third-party data and discussions with administrative leadership, physicians and staff.
• In conjunction with the product utilization teams, reviews and revises policies and/or procedures in relation to product utilization standardization.
• Evaluates performance of product team members based on established team member responsibilities.
• Effectively manages and provides value analysis information by maintaining a detailed cost saving tracking system.
• Interacts with direct patient care staff to ensure appropriate feedback is received before product decisions are made (e.g., physicians, nurses, radiology technologists, medical technologists, and other ancillary staff).
• Interacts with applicable departments to assure all safety, regulatory and epidemiology issues are addressed prior to product selection.
• Collaborates with others to develop and implement a plan to monitor outcomes as related to product standardization.
• Communicates institutional budget adjustments as a result of cost savings.
• Coordinates implementation of educational activities related to product utilization with appropriate departments and physicians.
• Analyzes follow-up reports to determine ongoing effectiveness of standardization / utilization efforts.
• Serves as an information resource for critical data related to supply expense management.
• Collects, analyzes and communicates information related to product conversions, financial performance and product standardization.
• Acts as a liaison between Corporate Supply Chain and Baptist entities related to product introductions, compliance measures and product failures.
• Acts as a resource to facility departments regarding the most cost-effective acquisition, utilization and effectiveness of resources and supplies.
• Ensures proper communication processes are in place to support structured product evaluation, introduction and standardization efforts.
• Evaluates impact of new technology adoption and effect on supply expense.
• Collaborates with Supply Chain contracting to affect acquisition cost and make recommendations for future contract activities.
• Encourages supply formulary adoption and adherence through value analysis team meetings and relationships with department directors.
• Acts as liaise with Baptist System Clinics to ensure product standardization as necessary to facilitate expense management.
• Acts independently and make decisions on emergent problems and issues expeditiously, while considering needs of various stakeholders.
• Analyzes available financial data and reports relative to assigned department(s), assuring compliance with approved budgets, and controlling costs.
• Must supplement knowledge base with available resources within and outside the organization in order to affectively accomplish various duties.
• Assures that assigned department(s) are appropriately using and safeguarding all organizational resources to include proper use of materials, supplies, equipment, and furnishings, human and financial resources.
• Completes, and/or is responsible to assigned department(s) for establishing, maintaining, and safe-guarding records, files, reports, etc.This includes assisting managers in developing data systems and data management, conducting surveys, audits, and studies – as appropriate and as assigned.
• Performs other duties as necessary and/or assigned.

Specifications

Experience

Minimum Required

• 5 years of work experience in health care required.

Preferred/Desired

• Supply Chain experience preferred.

Education

Minimum Required

• Bachelor's of Science Degree (BS) required.

Preferred/Desired

• BS; RN

Training

Minimum Required

Preferred/Desired

Special Skills

Minimum Required

• • Experience in cost containment and expense management activities. • Experience with large, multi-level organizations and the ability to work effectively in a geographically diverse environment.• Proven management skills, including program planning and development, project management, performance and quality management. • Computer competency – Microsoft suite – (Word, Excel, and PowerPoint) required. Access preferred • Excellent interpersonal relationship skills and the ability to drive consensus in a decentralized environment. • Strong presentation skills; ability to give oral presentations to Physicians and Clinicians, Senior Administrators and Peer groups. • Understands inter-workings of all supply-chain management activities and provides direct implementation supervision of contracts which are clinically sensitive in nature. • Must possess and develop strong analytical skills to perform “what if” analysis and to address the numerous issues and scenarios involved in proposed programs and processes. Information must be gathered, researched, analyzed and presented in an objective, non-biased “third party” manner.

Preferred/Desired

Licensure

Minimum Required

Preferred/Desired