PLYMOUTH
MEETING, Pa., June 25,
2024 /PRNewswire/ -- ECRI, one of the foremost
independent healthcare and patient safety nonprofits, launched a
new AI-powered tool – SurgiSmartIQ – that equips healthcare
providers with unprecedented insights into primary hip and knee
implant utilization, clinical use variation, and pricing data for
primary joint orthopedic procedures.
Nearly 1.3 million primary total joint arthroplasty procedures
were performed in 2019, according to Agency for Healthcare Research
and Quality reports. As the population ages, primary hip and knee
replacement procedures are among the fastest-growing procedures.
With demand and costs on the rise, coupled with changes in patient
dynamics and surgeon preference, healthcare leaders have struggled
to get a clear picture of price and clinical use utilization and
variation.
According to ECRI's supply chain experts, the cost of implants
can quickly balloon driven by the variety of manufacturers,
components, and ancillary products on the market. All these
elements drive complexity in supply chain management and reduce the
ability to truly manage variation.
ECRI launched SurgiSmartIQ to deliver near time information on
actionable cost savings opportunities, clinical variation, and
procedure and contract compliance information. SurgiSmartIQ pulls
from the world's largest GPO-agnostic healthcare price benchmarking
database for capital and supplies from over 3,000 healthcare
facilities.
SurgiSmartIQ identifies all combinations of components used by
orthopedic surgeons, associated costs, and usage trends. The tool
generates comprehensive reports of savings opportunities based on
price benchmarking, product utilization, and standardization
opportunities. By including all the device components and
accessories at the construct level, plus major manufacturers'
rebates and inventory purchase discounts, SurgiSmartIQ reveals the
complete, total cost of orthopedic procedures.
"There is truly nothing like this on the market today," said
Marcus Schabacker, ECRI President
and CEO. "Until now, it has been impossible for leaders in
orthopedic care to access this level of insights in implant
selection, preference, utilization and cost. Other tools that
provide some price benchmarking only pull data from certain GPOs,
omitting massive data sets required to make informed purchasing
decisions. We have already helped clients identify millions of
dollars in savings across large health systems and surgery centers
with SurgiSmartIQ."
"In our mission to make healthcare safer, more equitable and
more affordable, data transparency is critical," added Schabacker.
"Through SurgiSmartIQ, ECRI can identify where orthopedic practices
and hospitals are overpaying for supplies and uncover trends in the
use of implants and accessories."
To learn more or to request a demo, email
clientservices@SurgiSmartIQ.com.
ABOUT ECRI
ECRI is an independent, nonprofit
organization improving the safety, quality, and cost-effectiveness
of care across all healthcare settings. With a focus on technology
evaluation and safety, ECRI is respected and trusted by healthcare
leaders and agencies worldwide. ECRI is the only organization
worldwide to conduct independent medical device evaluations, with
labs located in North America and
Asia Pacific. ECRI is designated
an Evidence-based Practice Center by the U.S. Agency for Healthcare
Research and Quality. ECRI and the Institute for Safe Medication
Practices PSO is a federally certified Patient Safety Organization
as designated by the U.S. Department of Health and Human Services.
Visit www.ecri.org.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ai-powered-analytics-and-insights-bring-transparency-to-primary-hip-and-knee-orthopedic-surgery-costs-302181962.html
SOURCE ECRI