AHRMM SME Podcast with Joseph Jang

AHRMM Podcast

This is the AHRMM Subject Matter Expert Podcast hosted by Justin Poulin. Tune in every month as we speak with Industry Experts to highlight success stories and solutions from the field that advance the healthcare supply chain. And now, Justin Poulin with this month’s Expert… Guest: Joseph Jang, Partner @ Pathstone Partners Topic: How to drive and scale change & impact (cost savings & margin improvement) to your organization - Intro - Driving Change - Key Formula - (1) Addressable Spend x (2) Yield x (3) Speed to Value * 1 – Increase Addressable Spend - 30% of spend is represented by traditional supply chain areas of influence (clinical supplies, implants, distribution) - We need to leverage power of informal networks to scale change; supply chain teams are brokers of networks - Benefit of increasing addressable spend? Diversification effect; every category represents a different risk vs. reward ratio; stock market vs. mutual fund approach * 2 – Increase Yield & Results - Definition: How effective are we in driving results with what’s given? - We need to pursue a multi-value lever approach beyond price to drive results - Benefit: Leverage resides with you as the organization + optionality * 3 - Speed to Value - Definition: How quickly can we drive results with what’s given in an annual time period? - Fuel vs. Friction Concept - Benefit: Increase your speed by up to 2x by removing psychological barriers (friction) to adopt and scale change - Scaling Change – Two key concepts * Every successful change effort takes the form of the S- Curve; we need to find the early adopters and mavens to let your change effort spread like wildfire * Forgetting Curve – supply chain leaders need to give themselves more credit! Constantly communicate progress and wins or change efforts will be forgotten