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SVS launches key valuation study
The Society for Vascular Surgery (SVS) is undertaking a new study to take an objective, qualitative and quantitative approach when assessing the importance and financial impact of vascular services to health systems.
SVS members have said that the lack of identity for vascular services as a leading service line represents a fundamental threat to the specialty. In many markets, health system administrators are unaware of the importance of vascular surgery, its impact on patient safety and the value of the support it provides to many other service lines within an organization.
“Our goal is to develop materials to educate hospital and healthcare system leaders on the infrastructure and programmatic scope of services required to deliver high-value vascular care. We want to inform administrators of all the elements—visible and invisible —that are part of the service line,” said SVS President Kim J. Hodgson, MD.
The SVS is partnering with Sg2, a nationally recognized healthcare strategy and analytics company. Sg2 will utilize its data assets, analytics and experience to complete the project. SVS members have been asked to supply information for various study components, including a survey distributed in December.
This valuation study complements the SVS branding initiative now in progress, said Hodgson. “The branding initiative explains who we are and what we do—what sets us apart from other medical professionals. And the valuation project quantifies our value to our institutions.
“Our hope is that if we can illustrate our concrete, real worth to a hospital or institution with reliable data, it could help increase our voice, impact and compensation,” he said. “It could help solidify our identity and standing to the general public and help stave off competition from other physicians.”
The SVS Valuation Work Group will update members as the study progresses.