ECRI Institute's CapitalNavigator Helps Hospital Leaders Stretch Complex Medical Technology Budgets

PLYMOUTH MEETING, Pa., June 22, 2017 /PRNewswire-USNewswire/ -- CapitalNavigator, a new capital budgeting service from ECRI Institute, simplifies and expedites the decision-making process for planning medical technology purchases and projects at hospitals and health systems.

ECRI Institute's technology experts examine capital requests, participate in budget committee meetings, and offer unbiased insights and recommendations, enabling hospital leaders to prioritize and justify costly projects based on clinical and strategic objectives.

"Health systems are financially strapped, so they're constantly trying to spend less and get more for each department. Our technical expertise and independent judgment give hospital leaders confidence to do that, especially when making contentious decisions on expensive medical technology requests," says Thomas E. Skorup, MBA, FACHE, vice president, Applied Solutions Group.

CapitalNavigator budget reviews address clinical appropriateness and effectiveness, implementation needs, return on investment, standard of care and regulatory issues, obsolescence, and industry trends.

Working with a 17-hospital health system, ECRI Institute and hospital leaders achieved millions in savings. With ECRI Institute's expert insights, the organization saved more than $600,000 by choosing a single-plane electrophysiology lab over a bi-plane lab. It also saved $2 million by delaying investment in a second surgical robot, and more than $3 million by avoiding investment in a CyberKnife^® system.

CapitalNavigator clients receive a customized decision-support model preloaded with their capital budget requests on ECRI Institute's proprietary TruVu™ platform. The interactive visualization tool makes it possible to weigh variables, blind requests, and play out "if/then" scenarios to see the impact of budget decisions.

To learn more about CapitalNavigator, please visit www.ecri.org/capitalbudget or contact ECRI Institute by telephone at (610) 825-6000, ext. 5160; by e-mail at [email protected]; or by mail at 5200 Butler Pike, Plymouth Meeting, PA 19462-1298, USA.

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About ECRI Institute
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, interventions, and processes are best to enable improved patient care. As pioneers in this science for nearly 50 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 an Evidence-based Practice Center by the U.S. Agency for Healthcare Research and Quality. ECRI Institute PSO is listed as a federally certified Patient Safety Organization by the U.S. Department of Health and Human Services. ECRI Institute convened and operates the Partnership for Health IT Patient Safety, a multi-stakeholder collaborative. Find ECRI Institute on Facebook (www.facebook.com/ECRIInstitute) and on Twitter (www.twitter.com/ECRI_Institute).

SOURCE ECRI Institute

Related Links

http://www.ecri.org