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New PriceGuide 4.0 from ECRI Institute Helps Hospitals Rein in Supply Costs
Date:9/14/2011

PLYMOUTH MEETING, Pa., Sept. 14, 2011 /PRNewswire-USNewswire/ -- ECRI Institute®, an independent nonprofit that researches the best approaches to improving patient care, announces the release of PriceGuide 4.0, the latest generation of its PriceGuide™ membership advisory service for the procurement of medical-surgical supplies and implants.  

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

"The 4.0 platform adds a whole new level of interactivity and functionality for our PriceGuide members," states Tim Browne, Director of ECRI Institute's PriceGuide service. "We've been able to deliver enhanced comparison data for better benchmarking," adds Browne.

In addition to viewing benchmarks against the PriceGuide national low, average and high price, members may now customize their benchmarks by comparing against like facilities based on annual spend, hospital vs. healthcare system, bed size and region.  The new "date slider" tool allows members to customize the time frame for data utilized for benchmarking, giving more concise analytics.

"PriceGuide 4.0's pricing and technology data, spend analytics, and other custom reporting tools allow for smarter, safer buying decisions based on price and clinical efficacy," says Anthony J. Montagnolo, Executive Vice President and Chief Operating Officer, ECRI Institute. "Faced with limited resources and increasing supply costs, hospital executives and supply chain professionals need objective, evidence-based market intelligence to inform and substantiate their supply purchasing decisions," adds Montagnolo.

The enhanced PriceGuide 4.0 database includes comparative pricing on more than 1 million unique medical-surgical supply items and implants, submitted by ECRI Institute's PriceGui
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SOURCE ECRI Institute
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