ECRI Blog

Use a Predictive Replacement Plan to Create a Better Capital Replacement Process—and Include these 6 Questions

We all know the adage, the squeaky wheel gets the oil. It can even apply to your hospital’s capital budget planning exercise.

Capital requests include both replacement items for existing equipment and new or additional purchases, and the process tends to move quickly. Unfortunately, the loudest voices usually get the bulk of the available capital dollars, and smaller departments often are left out.

A Predictive Replacement Plan, or PRP, can streamline this process and provide objective recommendations regarding the replacement of capital equipment in a systemic manner.

A PRP is a deep dive into the capital medical inventory of a health care institution which is then used to develop and coordinate an unbiased 5 or 10-year replacement schedule, based on multiple objective factors, including organizational goals and patient needs. It is not based solely on the age of the equipment or the subjective desire or influence of a department director or physician. A PRP is based on multiple objective factors including device recall data, OEM support, part availability from OEM and aftermarket sources, changing technologies, device utilization, and clinical needs of the clinician.

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Topics: Health Devices, Supply Chain, Equipment Planning, Technology Assessment, ECRI, Evidence-based decision making, Leadership, Vaccines, Inventory, predictive replacement planning, Thought Leadership

Use Inventory Standardization to Improve Your Safety and Recall Alerts Program

Posted by Edward Nuber, Director of Marketing, ECRI on Nov 18, 2021
To make good decisions efficiently, organizations need good data.

We’ve all heard the idiom that one should “compare apples to apples; not apples to oranges. But what if you are not calling all of your apples by the name apple, or oranges by the name orange?

Or, here’s another way to think about it: Having mismatched data is like having an unorganized closet—you can’t find anything when you need it, you waste time searching, lose money in new purchases, and the closet gets messier as time goes on.

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Topics: Evidence-based decision making, Inventory Standardization, Product Recalls, data, Dirty Data, Inventory, predictive replacement planning

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