Summary: ECRI has launched the Healthcare Market Insights platform to help healthcare leaders make strategic decisions on purchasing, utilization, and inventory. The platform leverages comprehensive data to enhance efficiency and cost savings across the industry.
Key Takeaways:
- The platform transforms data into actionable insights, supporting informed decision-making for healthcare leaders.
- ECRI’s new platform provides unmatched capabilities in capturing market trends and projecting cost-saving opportunities across the healthcare sector.
ECRI is expanding its decision support services by launching the Healthcare Market Insights platform. The platform aims to equip healthcare leaders to make strategic decisions on purchasing, utilization, and inventory—ultimately driving cost savings and enhancing efficiency.
Transforming Data into Actionable Insights
The Healthcare Market Insights platform harnesses the latest tools to transform data into actionable insights. It automatically tracks progress and identifies holistic market trends by category nationwide. This innovative approach is designed to support healthcare leaders in making more informed, data-driven decisions.
“In our mission to make healthcare safer and more affordable, data transparency is key,” said Marcus Schabacker, ECRI president and CEO. “For nearly 40 years, we have supplied our healthcare partners with industry-leading, data-informed recommendations that give them the confidence to make informed decisions that impact the lives of patients entrusted to their organizations’ care. It’s a legacy we are proud to build upon through this new platform, which brings even more cost-savings and quality control opportunities within reach.”
Comprehensive Data Foundation
The platform is built upon the largest independent GPO-agnostic dataset in the Americas, including proposed and actual spend from more than 3,000 facilities, and leading safety, clinical evidence, and functional equivalent data. It compares holistic market trends based on price, market share, market shifts, and the entry of new products, pinpointing opportunities to improve spending on safe medical devices, capital equipment, and supplies.
“All healthcare providers strive to enhance patient outcomes while reducing costs. To do this safely, leaders need comprehensive datasets and technology to uncover hidden opportunities to streamline and boost efficiency,” said Stuart Morris-Hipkins, chief solutions officer at ECRI. “Only ECRI provides comprehensive, forward-looking projections fueled by data that capture not just spending within one facility or in one category, but across every category in the entire market. The platform’s capabilities are truly unmatched in the industry.”
