Plymouth Meeting, Pa.-based ECRI Institute launched a new capital budgeting service, CapitalNavigator, to facilitate the decision-making process for capital expenditures related to medical technology.
CapitalNavigator enables hospital leaders to prioritize and defend large technology expenditures by providing a team of technology experts to examine capital requests, participate in budget meetings and offer unbiased insights.
The new service will address budget concerns regarding clinical effectiveness, implementation needs, return on investment and any regulatory issues.
"Health systems are financially strapped, so they're constantly trying to spend less and get more for each department. Our technical expertise and independent judgment give hospital leaders confidence to do that, especially when making contentious decisions on expensive medical technology requests," Thomas E. Skorup, vice president of ECRI's Applied Solutions Group, said in the press release.