At Baxter, we pride ourselves on being at the forefront of efforts to embed Value Based Procurement (VBP) approaches into health services across the UK. VBP has the potential to support restoration, recovery and innovation within a hospital system and help to deliver better patient outcomes, stronger partnerships with suppliers and tangible savings. These long-term partnerships go beyond the traditional procurement of product, looking more at improving clinical outcomes and reducing waste along the continuum of care.
Many people have an interest in VBP but are not sure where to start. In April 2021, Baxter produced a paper,(available here) to share our learning and experiences in embedding VBP, including challenging some of the perceptions faced along the way. We are also committed to collaborating with procurement professionals and thought leaders to consider how VBP can and should evolve and how it can potentially be used within NHS Trusts, particularly as the NHS recovers from the COVID-19 pandemic.
So, how does Value Based Procurement work?
Many Trusts are simply not sure where to start when it comes to Value Based Procurement and forming value-based partnerships. With this in mind, we have created a short animations to help demonstrate what is possible with VBP, address common questions and explain the introductory steps in adopting VBP.
Animation : Why is now the right time
This animation was created to explain the introductory steps in adopting VBP.