Pennsylvania Hospital's Challenge
A large Pennsylvania hospital with more than 300 beds and specializing in high-demand services such as cardiovascular and cancer treatments faced the daunting challenge of rising technology costs. This scenario is common in the healthcare industry, where healthcare organizations must balance cost containment with quality patient care. The hospital's goal was to optimize supply chain operations and reduce costs while maintaining, if not improving, patient outcomes.
ECRI's strategic solutions
To address these challenges, the hospital's supply chain manager integrated ECRI's decision support tools throughout their operations. This integration includes:
ECRI's Supply Dataset: A comprehensive analytical tool that provides insight into spending patterns and helps identify standardization opportunities that significantly reduce costs. ECRI's Capital Dataset: Provides market intelligence reports with comparative product ratings to facilitate informed sourcing decisions. ECRI Clinical Evidence Assessment: Provides a critical assessment of clinical evidence to ensure that the products used are not only cost-effective, but also clinically effective.
Impactful results and savings
We hired ECRI's services and immediately saw great results.
Spending analysis focused on spine products helped the hospital streamline its vendor list from 13 to 8 companies, achieving savings of $250,000. In another example, ECRI clinical evidence supported a transition to new, more affordable joint implants without compromising clinical outcomes. For beds and stretchers, the hospital was able to standardize its suppliers, significantly reducing costs per unit.
Explore ECRI's supply chain solutions
ECRI's approach combines rigorous scientific methodology with an extensive database of clinical evidence and market data, making us a trusted partner for healthcare providers.
Price Benchmarking: ECRI's tools allow facilities to benchmark spending against national averages and identify variances and savings opportunities. Standardization process: ECRI helps institutions reduce variation and negotiate better terms with fewer vendors by identifying functionally equivalent products. Utilization Review: Through detailed analysis, ECRI identifies areas where products are underused or overused, providing data-driven insights for better resource allocation. Identification of Functional Equivalents: ECRI's Functional Equivalence Category Cross-Reference Report helps healthcare facilities quickly address supply chain disruptions by identifying equivalent and substitute products across more than 340 important categories. Helpful.
ECRI's unique position in the market
What sets ECRI apart in the healthcare industry is our commitment to independent, evidence-based analysis. Unlike other organizations that are associated with specific manufacturers or suppliers, ECRI's recommendations are based solely on data and proven effectiveness. This objectivity is critical to healthcare providers who rely on ECRI's guidance to make important decisions about patient care and financial responsibility.
Conclusion: ECRI as a cultural foundation in medical decision making
ECRI, an independent, nonprofit organization, plays a critical role in improving the quality, safety, and cost-effectiveness of health care through technology-enabled decision support services. ECRI specializes in comprehensive clinical evidence and market intelligence to help healthcare facilities navigate the complexities of medical technology and supply chain management. The organization's expertise has not only led to significant cost savings, but also improved quality of patient care by ensuring medical decisions are supported by reliable scientific evidence. Ta. ECRI's impact on healthcare supply chain management is significant, demonstrating its value as a trusted advisor to the healthcare sector.
ECRI promises healthcare providers looking to transform their supply chain strategies to not only control costs but also improve standards of patient care through informed, data-driven decision-making. We offer partnerships.
Learn how ECRI can help you optimize your supply and capital purchases and safely save millions of dollars annually.
