VACs are expanding the number of stakeholders they include and metrics they consider. Suppliers must prove the value of their product on multiple fronts by proactively showing margin impact, clinical outcomes, appropriate use cases, and how the product will impact other clinical processes.
Some VAC leaders meet with and encourage clinicians to use approved products. It’s important to engage leaders to ensure a product sees wide-spread use, even after a contract is signed.
VACs are just a one part of overall value analysis. In this larger value analysis process, staff gather and review product data over several weeks or months.
The process typically begins when a clinician or supply chain rep identifies a product to purchase. This product sponsor fills out a brief intake form that covers why they want the product, what they currently use, and certain product specifications. Value analysis staff then examine internal and external data sources, such as outcomes from peer-reviewed journal articles or clinical use data from their EHR. VACs also seek the opinions of end user clinicians.
VACs may decide to run a trial if they cannot find enough data or the VAC wants to better understand how the product performs within organization-specific processes. While a trial lengthens the value analysis process, it’s also a chance to generate additional product data for suppliers’ future commercial efforts.
After the product is studied (and potentially tested), it’s subject to evaluation at a VAC meeting, which typically occurs monthly. The committee reviews key findings and votes to accept or reject the product. Some VACs also determine product pricing and purchasing quantity, and many play an ongoing role in ensuring clinicians comply with their decisions.
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