IQVIA’s Kari Miller discusses challenges that organizations face regarding quality systems. The overall goal is to provide patient safety, but industry requirements also demand compliance. Underlying quality processes includes determining the cost of quality and improving costs using supplier relationships and leverage technology.
Miller remarks, “As we look at process and product improvements, quantifying the “quality” costs to the organization is defined as the Cost of Quality (COQ). Why quantify the quality data? The COQ categorizes these costs so the organization can see how moving from a quality assurance (control and correction) focus to a focus on prevention helps to reduce the cost of nonconformances.” Read more here.
(Source: Kari Miller, IQVIA, 6/2/21)