Navigation Links
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 PriceGuide member healthcare organizations. Hospitals can benchmark current and proposed pricing against the PriceGuide national low, average and high price for a particular item, and quickly identify where there are opportunities to negotiate for savings.

PriceGuide 4.0's interactive graphs and powerful drill-down data sets provide detailed decision support information for supply chain and materials managers, clinical administrators, value analysis teams and C-suite staff. The tool is helpful for garnering group buy-in and sharing costs across hospital departments.

With PriceGuide 4.0, member hospitals can:

  • Customize time periods for which data is being benchmarked
  • Differentiate between "hospital" pricing and "system" pricing
  • Quickly identify top suppliers with the greatest opportunities for savings
  • Analyze their total spend by supplier, manufacturer, department, category, and item
  • Compare proposed supplies and implants based on clinical effectiveness

For more information about PriceGuide 4.0, please contact Tim Browne (610) 825-6000, ext. 5118, or e-mail tbrowne@ecri.org.  To learn more about ECRI Institute, e-mail communications@ecri.org, call (610) 825-6000, or mail to 5200 Butler Pike, Plymouth Meeting, PA 19462-1298 USA.

ECRI Institute (www.ecri.org), a nonprofit organization, dedicates itself to bringing the discipline of applied scientific research to healthcare to discover which medical procedures, devices, drugs, and processes are best to enable improved patient care. As pioneers in this science for more than 40 years, ECRI Institute marries experience and independence with the objectivity of evidence-based research. Strict conflict-of-interest guidelines ensure objectivity. ECRI Institute is designated as an Evidence-based Practice Center by the U.S. Agency for Healthcare Research and Quality. ECRI Institute PSO, listed as a federally certified Patient Safety Organization by the U.S. Department of Health and Human Services, strives to achieve the highest levels of safety and quality in healthcare by collecting and analyzing patient safety information and sharing lessons learned and best practices. Find ECRI Institute on Facebook (www.facebook.com/ECRIInstitute) and on Twitter (www.twitter.com/ECRI_Institute).


'/>"/>
SOURCE ECRI Institute
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Sarasotas Roskamp Institute Releases Study Defining a Mechanism for Development of Obesity and the Metabolic Syndrome, Forerunners of Type 2 Diabetes
2. Sports Legacy Institute Announces Findings of Forensic Examinations on Wrestler Chris Benoits Brain
3. Diabetes Research Institute Invention Promotes Growth of Stem Cells into Insulin-Producing Cells
4. Spine Institute of Louisiana Offers Cervical Spine Motion Preservation as an Alternative to Fusion Surgery
5. Trana Discovery and Southern Research Institute Announce the First RNA-RNA High Throughput Drug Screening Assay Platform for HIV Antivirals
6. Video: The Arizona Heart Institute Announces the Largest Worldwide Experience with Endoluminal Grafting to Treat Thoracic Aortic Aneurysms and Related Pathologies
7. Virogenomics, Inc. Awarded $2 Million National Institute of Standards and Technology (NIST) Advanced Technology Program Grant to Develop Integrated Diagnostic Biosensors
8. The Leukemia & Lymphoma Society and Cleveland Clinic Taussig Cancer Institute Announce Groundbreaking Partnership to Accelerate Drug Approvals
9. American Meat Institute Calls WCRF Panel Recommendations on Meat Consumption Extreme and Unfounded
10. SAIC Awarded Malaria Vaccine Production Support Contract Extension by the National Institute of Allergy and Infectious Diseases
11. American Legion Anticipates Institute of Medicine Report on Gulf War Veterans
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/23/2016)... May 23, 2016 Clarifying Vision ... and Monitoring, and Vision Care What can ... are going to grow at the fastest rates? This ... 2026, assessing data, trends, opportunities and prospects. ... graphs. Discover the most lucrative areas in the industry ...
(Date:5/23/2016)... -- Experts from various countries ... role of technology in innovative healthcare ... International Conference of VPS-Penn Medicine opened in Abu ... Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture and ... provide personalized medicine and tailor-made healthcare in disease treatment and ...
(Date:5/23/2016)... , May 23, 2016   Purdue ... entered into an agreement with Egalet Corporation and ... claims. As part of the agreement the companies ... will enable all three companies to develop and ... "This agreement reflects the commitment of ...
Breaking Medicine Technology:
(Date:5/24/2016)... Colorado (PRWEB) , ... May 24, 2016 , ... ... architecture firm, announces the grand opening of ‘El Centro del Quinto Sol Wheel ... of the Pueblo ‘east side’ community to offer something special for this often ...
(Date:5/23/2016)... ... 2016 , ... On Sunday, May 15, Rockynol Retirement Community, ... living center. After 18 months of construction, the new state-of-the-art structure was dedicated ... the latest in assisted living amenities and services, offering six different studio and ...
(Date:5/23/2016)... ... May 23, 2016 , ... According to an article published May ... the birth of her son, Rockwell Lloyd Liu, and notes that gestational surrogacy helped ... “Kill Bill” star explains that, as a career oriented single woman, gestational surrogacy made ...
(Date:5/23/2016)... ... May 23, 2016 , ... In light of ... reminds pet owners that intervening at the first sign of their pet overheating ... normal body mechanisms cannot keep the body’s temperature within a safe range. Considered ...
(Date:5/23/2016)... ... May 23, 2016 , ... T.E.N., an ... nominations will be accepted May 23, 2016 through August 5, 2016 for ... Information Security Executive® of the Year, which recognizes executives who have made ...
Breaking Medicine News(10 mins):