ECRI launches Healthcare Market Insights platform with unmatched data transparency

ECRI is expanding its decision support services by adding new comprehensive market insights. The Healthcare Market Insights platform equips health care leaders to make strategic decisions on purchasing, utilization, and inventory – ultimately driving cost savings and enhancing efficiency.

The platform harnesses the latest tools to transform data into actionable insights. It automatically tracks progress and identifies holistic market trends by category nationwide.

“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 health care 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.”

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 health care 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.”

ECRI clients have identified more than $13 billion savings opportunities annually through the combined capital and supply dataset. ECRI has analyzed nearly $74 billion in supply and capital spend over the past year. More than 3,000 U.S. hospitals and health systems are members of ECRI’s strategic sourcing and supply chain programs. Learn more about the Healthcare Market Insights program.