Yes, set the cell as a RANGE object one time and then use that RANGE object in your code:
Sub RangeExample()
Dim MyRNG As Range
Set MyRNG = Sheets("Sheet1").Cells(23, 4)
Debug.Print MyRNG.Value
End Sub
Alternately you can simply store the value of that cell in memory and reference the actual value, if that's all you really need. That variable can be Long or Double or Single if numeric, or String:
Sub ValueExample()
Dim MyVal As String
MyVal = Sheets("Sheet1").Cells(23, 4).Value
Debug.Print MyVal
End Sub