ECRI improves value analysis decisions, helps reduce healthcare costs during COVID-19 pandemic
August 05, 2020
PLYMOUTH MEETING, PA—ECRI, the most trusted voice in healthcare, announces the release of an enhanced value analysis workflow solution that drives team transparency, clinical engagement, and improves efficiency of the medical product decision-making process. ECRI’s Value Analysis Workflow empowers supply chain leaders, value analysis teams, and clinicians to reach consensus on complex technology purchasing decisions based on sound clinical evidence.
“The COVID-19 pandemic is tightening financial pressures on an already strained healthcare system,” says Marcus Schabacker, MD, PhD, president and CEO, ECRI. “Our new value analysis workflow adds much-needed transparency, safety, and clinical evidence assurance that leaders can rely on to stretch scarce resources when selecting new patient-care technologies.”
ECRI’s Value Analysis Workflow integrates pricing and utilization analytics, evidence-based assessments, and comparative product evaluations to reduce clinical spend and enhance patient outcomes.
The cloud-based project management tool includes three major enhancements:
1. Visual workflow. Increases efficiency by providing organization-level transparency on the status of any project under consideration
2. Mobile notifications. Makes it easy for clinicians and value analysis members to review, research, and approve project tasks directly from mobile devices
3. Automated decision logic. Automatically routes supporting financial, technical or clinical evidence to the correct person for approval ensuring the right people are making the best decisions
The workflow application adds efficiency by integrating clinicians and all members of the value analysis team into the process, streamlining decisions. Hospital Sisters Health System, a multi-institutional healthcare system in Illinois and Wisconsin, shortened request turn-around times by 76 percent, reducing the time to completion to approximately 14 to 18 days.
“Unlike other workflow solutions, ECRI embeds trusted, unbiased clinical evidence analysis and guidance into our services to inform clinical decisions and improve patient outcomes,” says Karen Schoelles, MD, vice president, clinical excellence and safety, ECRI.
This latest product release enhances ECRI’s proven suite of technology decision-making tools and personalized services that help hospital leaders achieve immediate cost savings without compromising patient care. Thousands of healthcare organizations worldwide rely on ECRI’s experience in delivering strategic, evidence-based technology management guidance.
ECRI is actively assisting healthcare organizations with COVID-19 preparedness resources and services. Its public-access COVID-19 Resource Center includes best practices for infection prevention, medical device guidance on PPE, ventilators, and infusion therapies, and clinical evidence assessments on coronavirus-related treatments, therapies, and interventions. ECRI is also providing members with open access to COVID-19 recovery-related guidance, tools, and resources across its entire solution suite.
ECRI is an independent, nonprofit organization improving the safety, quality, and cost-effectiveness of care across all healthcare settings. With a focus on patient safety, evidence-based medicine, and health technology decision solutions, ECRI is respected and trusted by healthcare leaders and agencies worldwide. Over the past fifty years, ECRI has built its reputation on integrity and disciplined rigor, with an unwavering commitment to independence and strict conflict-of-interest rules.
ECRI is the only organization worldwide to conduct independent medical device evaluations, with labs located in North America and Asia Pacific. ECRI is designated an Evidence-based Practice Center by the U.S. Agency for Healthcare Research and Quality and a federally certified Patient Safety Organization by the U.S. Department of Health and Human Services. In 2020, The Institute for Safe Medication Practices (ISMP) formally became an ECRI Affiliate.