The Emergency Care Research Institute reduced costs for a 10-hospital system by over $7 million with its predictive replacement planning service.
The PRP service analyzes ECRI data alongside equipment use data to provide a roadmap for medical equipment management, maintenance and replacement, according to an Aug. 27 news release from the institute.
ECRI tailored its PRP service to an unnamed 10-hospital system and projected $7.4 million in savings across four categories: ultrasound systems, point-of-care equipment, critical care ventilators and hospital bed equipment.
The PRP service can reduce inventory costs, improve patient care and optimize inventory investments, ECRI said in the release.