New Modern Healthcare index tracks medical technology prices

Spending on medical technology, supplies and devices is a key driver of escalating healthcare costs in the U.S. To assist healthcare executives in monitoring how much they're spending on these items, Modern Healthcare has partnered with the ECRI Institute to develop the Modern Healthcare/ECRI Institute Technology Price Index.

The TPI is a monthly index of the prices hospitals and other providers pay for medical technology, supply and device items. Specifically, the TPI will track 30 items:

• The Top 10 supply items by total spending.
• The Top 10 most expensive capital items.
• The Top 10 most popular capital items.

Three separate indices will report the average price paid for an item, the change in price for that item from the previous month and the change in price for that item from the same month one year ago. An interactive chart will allow readers to track price changes of any item or multiple items over time. The ECRI Institute, based in Plymouth Meeting, Pa., will supply the data for the TPI based on price information reported to it by its member organizations.

The TPI will be available for free to all registered users of ModernHealthcare.com starting Feb. 13. To access the TPI, go to modernhealthcare.com/TPI.

For more information on the Modern Healthcare/ECRI Institute Technology Price Index, please contact the Modern Healthcare research department at 312-649-5459 or research modernhealthcare.com.