5 Value Creation, the Leaves and Blossoms of an Organization

Value creation refers to the process of adding value to a product, service, or business that exceeds its cost of production. In other words, it is the process of creating something that is worth more than the sum of its parts.

There are many ways to create value, including:

1. Innovation: Developing new and improved products or services that meet the needs of customers in a better way than existing options.
2. Efficiency: Improving operational processes and systems to reduce costs and improve productivity.
3. Quality: Delivering high-quality products or services that exceed customer expectations and provide a superior customer experience.
4. Customer service: Providing excellent customer service and support, which can help to build long-term customer loyalty and trust.
5. Branding and marketing: Building a strong brand identity and promoting products or services in a way that resonates with customers.

Value creation is important for businesses because it can lead to increased profitability, market share, and customer loyalty. By continually finding ways to create more value for customers, businesses can differentiate themselves from their competitors and build a sustainable competitive advantage.

In healthcare, value is the intersection between quality, access, and cost.

Examples of value add services within Respiratory Care:

• Health system partners with local school to launch Respiratory Therapy program
• Respiratory Therapists are embedded into Emergency departments with expanded practice
• Respiratory Therapists become part of a vascular access team
• Pulmonary Navigation that connects patients to necessary post acute services
• Embedding Respiratory Therapists into Medical Non-ICU units as partners with providers, nursing, physical therapy, pharmacy, etc…
• Proving inpatient sleep studies

In the field of Respiratory Care, the goal is to provide a qualified Respiratory Therapist in a way that improves quality and maintains or reduces expenses. Therefore, when developing a new process, program, or service it is imperative that the administration walks through the strategic planning process carefully to ensure that Respiratory Therapy resources are being deployed as a value add to patient care.

Experience design and management is the process of designing and managing the overall experience that customers, employees, or stakeholders have with a product, service, or organization. It involves understanding the needs, preferences, and expectations of these groups and designing experiences that meet or exceed those expectations.

Experience design and management encompasses various aspects of an organization, such as marketing, branding, customer service, product development, and operations. It aims to create a seamless and positive experience across all touchpoints and interactions that customers, employees, or stakeholders have with the organization.

Here are some key steps involved in experience design and management:

1. Research and Understand the Target Audience

• Conduct research to understand the needs, preferences, and expectations of the target audience.
• Analyze customer feedback, social media comments, and other data sources to gain insights into what customers want and need.

2. Define the Experience

• Define the experience that the organization wants to deliver to its customers, employees, or stakeholders.
• Identify the key touchpoints and interactions that the target audience will have with the organization.

3. Design the Experience

• Use design thinking and other user-centered design methodologies to create experiences that meet or exceed the expectations of the target audience.
• Consider all aspects of the experience, including visual design, user interface design, content, and messaging.

4. Implement the Experience

• Implement the designed experience across all touchpoints and interactions with the target audience.
• Train employees and other stakeholders to deliver the desired experience.

5. Monitor and Improve the Experience

• Monitor the experience to identify areas of improvement.
• Use customer feedback and other metrics to track the success of the experience and make adjustments as needed.

Effective experience design and management can help organizations differentiate themselves from their competitors, increase customer loyalty and satisfaction, and drive business growth.