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Modern Healthcare and ECRI Institute Launch New Technology Price Index
Date:3/28/2012

PLYMOUTH MEETING, Pa., March 28, 2012 /PRNewswire-USNewswire/ -- Escalating healthcare costs and diminishing returns require today's hospital leaders to scrutinize every dollar they spend on medical technology, supplies, and devices. To assist decision makers in monitoring pricing changes for key technologies, Modern Healthcare and ECRI Institute, an independent nonprofit that researches the best approaches to improving patient care, have developed and launched the healthcare industry's first technology price index.

(Logo: http://photos.prnewswire.com/prnh/20110112/DC29081LOGO)

"Price transparency is an essential component to controlling costs in any industry, including healthcare," said David Burda, editor of Modern Healthcare. "Our Technology Price Index adds a much needed dose of price transparency to the medical device and supply field."

The new online Modern Healthcare / ECRI Institute Technology Price Index provides a quick snapshot of average prices that hospitals and other provider organizations are paying for 30 key capital and supply items based on aggregated data from ECRI Institute member facilities. Updated prices are provided each month for expensive and frequently purchased categories of technologies, such as linear accelerators, CT scanners, cardiac ultrasound systems, heart valves, pacemakers, implants, and more.

The Technology Price Index includes the following three indices and a 12-month trending graph:

  • The Top 10 Supply Items by Total Spend
  • The Top 10 Most Expensive Capital Items
  • The Top 10 Most Popular Capital Items

Designed to help healthcare administrators quickly see upswings and downturns in the marketplace, each index includes the latest monthly average pri
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SOURCE ECRI Institute
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