Within three months of enlisting ECRI Institute, a 250-bed community hospital identified and achieved $250,000 in savings on approved product requests. The hospital also identified $30,000 in proposed spend when a new product request was denied following ECRI Institute's determination that there was no clinical evidence to support the technology.
Prior to signing on, the hospital would take up to 100 hours to research 10 product requests. By passing this responsibility on to ECRI Institute, the hospital had more time to focus on a spinal implant standardization project, which resulted in $2.1 million savings.
The hospital gained a stronger value analysis infrastructure by establishing a transparent, more defensible rating scale for new product requests, enabling them to deny products that did not rate high enough.
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