Not-for-profit research firm ECRI Institute has introduced the SELECT Capital Budget Tool, to enable hospitals to create standardized preliminary equipment "wish lists," which is a first step in building an annual capital budget.

The tool is an enhancement of ECRI's capital technology advisory services that more than 2,500 hospitals use. The tool helps build a wish list that relies on actual and accurate prices paid, enabling hospitals to avoid contacting vendors for list price quotes, according to the firm.

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