In today's cost-conscious environment, executives are increasingly interested in return on investment. That's why SIMUL8 enables you to estimate profitability, measure clinical quality and outcomes, and to perform scenario analysis.
The Institute of Medicine (IOM) has estimated that $130 billion per year are wasted on inefficient processes. Lean and Six Sigma programs are clearly the most logical next step in reducing cost, but quantifying the financial impact of a particular project is challenging. SIMUL8's profitability tools allow you to measure the cost of poor quality and process inefficiencies. Using the Scenario Manager, you can also quantify the impacts of proposed changes on other important metrics such as quality, access, and patient satisfaction.
Facing a multitude of high priority programs with limited resources, Lean and Six Sigma directors must prioritize. But with so many "squeaky wheel" projects, what is the best way to allocate resources? With SIMUL8's value stream mapping tool, simulation can provide insight into the inter-related nature of performance improvement projects. By looking at different combinations and schedules for the project portfolio, Lean and Six Sigma program directors can be sure that they are optimizing their own efforts.
At the start of every Lean or Six Sigma project, you establish a project charter and set a measurable goal for improvement. But how do you know what the right target is? Does it matter if the project improves performance by 30%? 50%? Simulation can answer this question by determining what performance level is necessary in order for the process will achieve capability.