ECRI Institute Releases New Market Analytics Tool for Use with Tablets, Other Mobile Devices

ECRI Institute announces the release of its new SELECTplus Market Analytics tool, one of several innovative decision-support products and enhancements being rolled out in 2015. The tool’s interactive, mobile platform puts the power of analytics directly into the hands of busy supply chain professionals with detailed, customizable views of trends in the medical technology marketplace.

Hospital supply chain and value analysis teams can drive strategic technology decisions with bigger, better data than in the paJennifer Myers, VP SELECT Health Technology Services, ECRI Institutest using this latest enhancement to ECRI Institute’s SELECTplus™ advisory service.

“Our comprehensive market research application in this new, mobile-friendly platform allows users to track, trend, and compare technologies, manufacturers, and models all on one interactive graph-in a value analysis meeting, in the OR, in a coffee shop, or anywhere,” says Jennifer Myers, ECRI Institute’s vice president of SELECT health technology services. “No one else offers this level of accurate, detailed market research data on medical technologies all in one online platform.”

Colorful, presentation-ready graphs show purchasing trends, market share, popular models and manufacturers, as well as configuration analyses and line item price benchmarking. Supply chain directors and other health technology purchasers are now able to share vital data on the spot, filtering by region, facility type, and bed-size.

“The SELECTplus Market Analytics tool lets us view financial, quality, user satisfaction, and system configuration data across multiple vendors,” says Jon Reiners, CMRP, director of materials management, Community Hospital in McCook, Neb. “The price benchmarking gives us the upper hand in vendor negotiations.”

Other key features include:
• Comparative data on functionally similar devices and models, plus pricing on popular technologies and service contracts
• Filters on categories relevant to the user, including trade-ins, used equipment, group buy-ins, and promotional deals
• Comparative service contract data, including pricing, level of service, point-of-sale versus post warranty, and OEM versus third-party pricing
• An online capital budgeting feature to build multiple normalized budgets in one place, from an enterprise-wide capital budget to smaller renovation projects   

Source: ECRI Institute