5 Things to Support Hospital Value-Based Purchasing

The necessity to address Hospital Value-Based Purchasing has surpassed the office of the hospital CEO. It's the responsibility of all aspects of the industry including manufacturers, distributors and others. Reaching that hospital decision maker with your solution is nearly impossible. They’re laser focused on VBP for the survival of their institution. The rest of the industry needs to be just as focused.

The Department of Health and Human Services definition:

“The Hospital Value-Based Purchasing (VBP) Program is a Centers for Medicare & Medicaid Services (CMS) initiative that rewards acute-care hospitals with incentive payments for the quality of care they provide to people with Medicare.”

As manufacturers, distributors, and service providers, the responsibility is on you to improve the quality and performance of every product or service that crosses the doorway of a healthcare institution. Your reputation and business viability depend on it.

What will it require to support Hospital Value-Based Purchasing? Content, Education, Resource Development, and quality products and services. All of which need to improve patient outcomes.

Is your product solving a need and providing solutions? Do you talk about it where clinicians and patients are seeking answers? Providing good content, is the first step to becoming a trusted resource for your customers.

Aligning your sales and marketing teams in 5 key ways to promote growth is a great foundation. This team alignment needs to work cohesively, as opposed to the traditional marketing/sales functions.

Start with these 5 Things Your Business Should Be Doing To Support VBP:

1. Reduced HAI’s = Improved patient outcomes and decreased unreimbursed expense

   1. Developing products that reduce cross-contamination and infection

   2. Implementing education for clinical staff

2. Product Consolidation = Cost Effective Inventory Management

   1. Cost effective packaging (larger increments per pkg)

   2. Promotion of best practices for product consolidation shipments

3. Product Comfort = Patient Satisfaction

   1. Develop products focused on patient comfort for improved compliance

   2. Educational support for clinicians and patients focused on ease of use and patient comfort

4. Education = Improved Patient Outcomes

   1. Utilizing social media for easy access

   2. Quick response and accessibility for both clinicians and patients

   3. Provide educational support immediately

5. Capital Equipment Product quality = Reduced Maintenance Costs

   1. Example of a content rich title, that provides valuable information: 5 critical must haves for your ventilator operations. Develop clearly defined content that educates.

   2. Brand reputation is based on product and service performance. The manufacturers of a top quality product, known as a work horse, will educate on - talk about - all the information that supports the product performance.

KBK Communications was co-founded by a veteran of the medical manufacturing industry. We are focused on supporting manufacturing, distribution, and service providers in healthcare. At KBK, we pride ourself on our unique approach to prospect and lead generation, sales training, and corporate alignment across all departments and leadership in the healthcare field. We help by listening, educating, and delivering qualified leads with a clear plan for follow up and growth.