New Value Analysis Tool Takes Confusion, Cost Out of Supply Procurement

PLYMOUTH MEETING, Pa., Feb. 1, 2017 /PRNewswire-USNewswire/ -- Deciding which medical-surgical supplies and instruments to bring into a hospital can be complicated, and even contentious. With manufacturers vying for market share, thousands of products to choose from, and multiple hospital staff owning a stake in the decision, how do medical purchasers avoid "analysis paralysis" and make the best product selection possible?

ECRI Institute now offers a solution with the release of TruVu® for Supplies, the newest addition to its broad suite of technology decision-making solutions for healthcare providers. TruVu, already proven to accelerate and improve complex decision making for the purchase of high cost capital equipment, now has expanded its functionality to include supplies, instruments, and implantable products.

"TruVu now enables hospital value analysis committees to reach consensus far more quickly and easily on their supply-side purchases, actually visualizing the value analysis process together in one common, interactive platform," states Tim Browne, director of ECRI Institute's PriceGuide service.

The TruVu tool weighs the decision criteria of all stakeholders involved in the value analysis process in real time, in one simple, shared application that shows current data specifications, financial considerations, physician preferences, and product recalls or safety issues related to a product under consideration. Users can quickly compare accurate, up-to-date price benchmarks and functional equivalency on supplies and physician preference items, and play out "if, then" scenarios to see the immediate impact of a change to a product feature on a purchasing decision. 

For example, a hospital faced with deciding among 15 different human mesh products for breast reconstruction procedures, used TruVu for Supplies to help them identify the two best products for their needs, with the greatest benefit and least risk. By standardizing on two products, the hospital simplified the selection process and took advantage of greater volume discounts.

"TruVu arms our members with the information they need to reach critical decisions together, and become more informed when entering into vendor negotiations," says Browne. 

Recent projects analyzed commodities, such as examination gowns, as well as physician preference items like shoulder replacements and mesh products.

TruVu for Supplies expands ECRI Institute's proven suite of technology decision-making tools and personalized services that help hospital leaders achieve immediate cost savings without compromising patient care. Healthcare organizations worldwide rely on ECRI Institute's nearly 50 years of experience delivering strategic, evidence-based technology management guidance from selection and purchasing to maintenance and replacement.

For more information or a demonstration of the new TruVu decision support solution, please visit www.ecri.org/truvu, contact ECRI Institute by phone at (610) 825-6000, ext. 5118; by e-mail at [email protected]; or by mail at 5200 Butler Pike, Plymouth Meeting, PA 19462.

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About ECRI Institute
ECRI Institute (www.ecri.org), a nonprofit organization, dedicates itself to bringing the discipline of applied scientific research to healthcare to discover which medical procedures, devices, drugs, and processes enable improved patient care. As pioneers in this science for nearly 50 years, ECRI Institute marries experience and independence with the objectivity of evidence-based research. Strict conflict-of-interest guidelines ensure objectivity. ECRI Institute is designated an Evidence-based Practice Center by the U.S. Agency for Healthcare Research and Quality. ECRI Institute PSO is listed as a federally certified Patient Safety Organization by the U.S. Department of Health and Human Services. Find ECRI Institute on Facebook (www.facebook.com/ECRIInstitute) and on Twitter (www.twitter.com/ECRI_Institute).

SOURCE ECRI Institute

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http://www.ecri.org