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Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. Improving the safety, quality, and cost-effectiveness of healthcare.

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Presentation on theme: "Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. Improving the safety, quality, and cost-effectiveness of healthcare."— Presentation transcript:

1 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. Improving the safety, quality, and cost-effectiveness of healthcare

2 PriceGuide PriceGuide The complete information service for the procurement of medical-surgical supplies and implants. Consists of the Following: PriceGuide Database Quotation Analysis Custom Technology Analysis

3 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. What can PriceGuide do for you? Members could potentially save between $500,000 and $1,000,000 across all product categories when the membership has been used to its fullest potential. PriceGuide provides the necessary product and pricing information to assist us in benchmarking, reducing, and leveraging current and proposed supply contracts. -PriceGuide member

4 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. PriceGuide automatically compares what you are paying for single-use medical products, including medical- surgical supplies, implants, and consumables, with prices paid by other hospitals. You can analyze your pricing by supplier or product category. PriceGuide Database

5 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. ECRIs PriceGuide national low price is the lowest price members have submitted for an item within the past twelve (12) months. The national average price represents the average of all of the prices members have submitted for an item within the last twelve (12) months. The average price is calculated by using pricing from two (2) or more member facilities. Usage figures and rebates are not taken into consideration in the calculation of the PriceGuide low and average prices. PriceGuide Database

6 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. PriceGuide Database PriceGuide Database ECRI's online database for benchmarking supply costs. PriceGuide members voluntarily submit copies of their item files to ECRI on a quarterly basis. Members are asked to check that the data submitted is not in violation of any agreements with third-parties.

7 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. PriceGuide Database Member Reports Allows members to benchmark existing supply costs against national low and average cost. Top 100 Savings - top 100 items with the greatest potential for savings Suppliers Analysis - top suppliers with the greatest potential for savings All Suppliers by Savings Analysis - all suppliers listed with potential savings displayed for each All Items - all items that were cross-referenced from members item master files, listed with potential savings displayed for each

8 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. Top 100 Savings PriceGuide Database Member Reports

9 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. All Suppliers by Savings Analysis PriceGuide Database Member Reports

10 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. PriceGuide Database National Reports Online reports assist members to evaluate proposed pricing and help to identifying the greatest potential for savings. National Category Analysis – locates alternate suppliers for potential savings National Item Details Analysis – displays all pricing that makes up the PriceGuide national low and national average price National Supplier Analysis – allows members to evaluate proposed pricing potential for supply purchases

11 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. National Category Analysis PriceGuide Database National Reports

12 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. National Item Details PriceGuide Database National Reports The region from which the price originated, member ID, load date, price, annual usage, and unit of measure are specified for each price received.

13 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. National Supplier Analysis PriceGuide Database National Reports

14 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. ECRI standardizes the supplier names, catalog numbers and descriptions for all items it categorizes. Item descriptions are verified against vendor and manufacturer data as well as data submitted by our member facilities. ECRI maps all standardized items displayed in the PriceGuide database to the Universal Medical Device Nomenclature System (UMDNS) taxonomy system for medical devices and medical-surgical supplies.Universal Medical DeviceNomenclature System (UMDNS) (ECRI will map the standardized data to your facilitys item master file FREE of charge.) Standardized Data PriceGuide Database

15 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. Benefits & Features Reduce purchase cost on single-use products Find lower-priced medical products Increase return on your supply investment Identify areas of cost-savings and support current/potential purchasing decisions Benchmark cost against companies your size regionally and nationally Assess pricing for medical/surgical supplies, physician preference items, and office supplies Members may now run the PriceGuide National Category Analysis on over 2,000 UMDNS product categories including: cardiac valves, pacemakers, drug-eluting stents, orthopedic hips and knees and many more!UMDNS product categories PriceGuide Database

16 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. PriceGuide Quotation Analysis PriceGuide hospital members may request an unlimited number of quotation analyses during the course of their membership. Within each quotation analysis, ECRI will benchmark the proposed price against both the PriceGuide national low and average price and calculate the annual potential savings.

17 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. PriceGuide Custom Technology Analysis PriceGuide hospital members may request up to 6 Custom Technology Analyses during the course of their membership. Each Custom Technology Analysis offers a comparison of multiple products from assorted suppliers and provides the member facility with purchasing recommendations for safe and effective products. ECRI conducts controlled testing within its testing laboratories to provide a comparison and recommendation to the member facility. Members of PriceGuide may also access and download copies of previously completed Custom Technology Analyses to use in their decision making process.

18 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. What our members say… Our first vendor negotiation using the PriceGuide database netted us a cost savings of nearly half a million dollars, and we anticipate additional savings. In the past we have used consultants to mine savings opportunities. Their identified opportunities have never been attainable. Because ECRI does not have a vested interest in identifying savings, I have a greater confidence in the identified opportunities. ECRIs PriceGuide services gives our Corporate Contracts and Purchasing staff the ability to negotiate better deals and make informed decisions, which has resulted in significant cost savings to our organization. PriceGuide is an extremely effective tool, which allows us to benchmark supply costs and effectively supports our Value Analysis Program. ECRIs PriceGuide database and technical staff consultations have become a standard within our contracting and procurement responsibilities. All of my buyers use PriceGuide on a daily basis. PriceGuide gives us a pricing benchmark on either the national or regional levels. We have been able to lower our acquisition costs of products enough that subscribing to ECRI pays for itself.

19 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. ECRIs Strict Conflict of Interest Rules No financial interestNo financial interest in the sale of any medical technology No royalties, gifts, finders fees, or commissionsNo royalties, gifts, finders fees, or commissions from the medical device or pharmaceutical industries No ownership of stockNo ownership of stock in, or consulting work for, organizations in such industries No advertisingNo advertising accepted

20 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. Become a PriceGuide Member Today! Get the competitive edge with PriceGuide to make sound purchasing decision by pinpointing savings. Custom reports Personal assistance Comparative pricing data Online member reports Database of 200,000 single-use medical products Valuable negotiating power Independent, unbiased information Take a Free Demo of PriceGuide Contact us today. Telephone: +1 (610) , ext Fax: +1 (610)

21 Copyright © 2006 ECRI. A NONPROFIT AGENCY. All Rights Reserved. Increase the return on your supply investment today. Europe Telephone: +44 (1707) Fax: +44 (1707) Middle East Telephone: or Fax: Southeast Asia Office Telephone: Fax: ECRI Headquarters, United States Telephone: +1 (610) , ext Fax: +1 (610)


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