ECRI Institute Launches Market Analytics Tool to Help Hospitals Make More Informed Capital Purchasing Decisions

Detailed pricing data and member interest charts provide medical equipment market intelligence

PLYMOUTH MEETING, Pa., July 6, 2011 /PRNewswire-USNewswire/ -- ECRI Institute®, an independent nonprofit healthcare organization that researches the best approaches to improving patient care, today announces the launch of its S+ Market Analytics Tool, the latest enhancement to ECRI Institute's SELECTplus™ healthcare technology advisory service. The new price benchmarking and trending database provides at-a-glance market intelligence to help hospitals and health systems select and procure the best capital equipment for their needs. It includes unlimited consultation with ECRI Institute's staff of technology analysts, biomedical engineers, clinicians and researchers.

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"This new interactive database is a significant enhancement to our service. It's the first market analytics tool of its kind to help hospitals and systems make faster, more informed capital purchasing decisions," states Jennifer Myers, ECRI Institute's Vice President of SELECT Health Technology Services. SELECTplus is a capital technology decision support service used by more than 2,500 hospitals and health systems worldwide.

"Whether purchasing new or replacing existing capital, hospital executives and purchasing professionals need the best market insight they can get," says Anthony J. Montagnolo, Executive Vice President and Chief Operating Office, ECRI Institute.  "S+ Market Analytics arms them with accurate, unbiased and evidence-based pricing and technology data to help substantiate purchasing decisions that now are often elevated to the C-Suite," adds Montagnolo.

The new S+ Market Analytics tool makes it easier for healthcare organizations to see purchasing trends, prices paid, and market share based on data submitted by SELECT member hospitals. At-a-glance charts and powerful drill-down data sets provide detailed market intelligence on medical technology, including:

• Member interest graphs and trends
• Most popular models and manufacturers
• Pricing and discount trends
• Configuration analyses and line item price benchmarking
• Benchmarking of service contracts

For more information about ECRI Institute's S+ Market Analytics, or to request a demonstration, contact Jennifer Myers at (610) 825-6000, ext. 5287, or email [email protected]. To learn more about ECRI Institute, contact us at [email protected], (610) 825-6000, or 5200 Butler Pike, Plymouth Meeting, PA 19462.

ECRI Institute (www.ecri.org), a nonprofit organization, brings the discipline of applied scientific research to discover which medical procedures, devices, drugs, and processes are best, all to enable health care organizations to improve patient care. As pioneers in this science, they pride themselves in having the unique ability to marry practical experience and uncompromising independence with the thoroughness and objectivity of evidence-based research. ECRI Institute is designated as a World Health Organization Collaborating Center for Patient Safety, Risk Management, and Healthcare Technology and 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