ECRI Institute announces new white paper on value analysis
Editor's Note The ECRI Institute on July 31 announced a new free white paper titled, “Value Analysis: Best Practices for Navigating the Evidence Maze. The white paper features three case studies that show how hospital value analysis committees can use the PICOTS (patients, intervention, comparators, outcomes, time frame for follow-up,…
Cost data persuade surgeons to be more frugal
Surgeons usually don’t have a high awareness of costs, partly because they haven’t had an easy way to know them. An unfortunate byproduct of this lack of knowledge can be higher OR costs. “Imagine what it’s like if, when you go to the grocery store, there are no price tags,…
ECRI Institute announces release of CrossCHEQ
Editor's Note ECRI Institute on June 6 announced the release of CrossCHEQ, its new service that offers unbiased guidance on equivalent alternatives for medical-surgical supplies and implants. By comparing key performance indicators, buyers can assess opportunities for standardization and better respond when products are out of stock or recalled. The…
Preference card cleanup projected to cut costs across departments
Fine-tuning physician preference cards to reduce instrument use and sterilization is a well-known way to cut costs, but one that is often hard to implement. At Bassett Healthcare (Cooperstown, New York), we had success with a simple intervention involving collaboration with nearly 50 surgeons across multiple departments. We reviewed more…
AHA asks CMS to suspend VBP pain questions
Editor's Note The American Hospital Association (AHA) on April 29 asked the Centers for Medicare & Medicaid Services (CMS) to suspend their pain-related questions in the Value-Based Purchasing (VBP) Program until concerns are addressed that the questions may contribute to the opioid epidemic, AHA News Now reports. The AHA says…
Committee saves over $1 million through cost conscious initiatives
Creating a “Cost Conscious Culture Committee” helped Maine Medical Center (MMC) in Portland shave more than $1.8 million in operating costs from the beginning of 2014 to the end of 2015. Not only that, but during 2015, MMC’s perioperative services leaders were also involved in a $40 million expansion project…
ECRI Institute launches ‘Rate This Model’ tool
Editor's Note ECRI Institute (Plymouth Meeting, Pennsylvania) on January 21 launched its new “Rate This Model” user review and rating tool for hospital equipment purchases. The tool enables OR managers to share their opinions and assign ratings on the performance of medical technologies. The new interactive feature looks and acts…
Fine print in supply contracts often holds keys to cost savings
When it comes to buying medical-surgical supplies, quality, safety, and physician comfort are foremost—but that doesn’t mean price is no object. Even though ambulatory surgery center (ASC) staff often lack materials management expertise, they can achieve cost savings in several ways, especially if they brush up on terms used in…
Device manufacturers strengthening product guarantees
Editor's Note Faced with weak demand and falling prices, manufacturers are improving their product warranties and adding cost-sharing guarantees to compensate hospitals if their medical-surgical devices don’t perform as expected, Reuters reports. Among the companies offering the new guarantees are Medtronic, Johnson & Johnson, and St Jude Medical, which have…
Contract management is a challenging but critical component of cost control
Loopholes in supply contracts can wreak havoc with a supply budget, but attention to detail and proper terminology can help OR managers take charge instead of being charged unnecessary fees. “Not managing your agreement will cost you 12% to 25% of the spend or 100% of any savings achieved,” Girard…
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