ECRI Chosen by International Horizon Scanning Initiative (IHSI) to Establish Groundbreaking Data Repository of Promising Medicines
ECRI, an independent, nonprofit health services organization that provides technology solutions and evidence-based guidance to healthcare decision-makers worldwide, has been chosen to develop the first large-scale International Horizon Scanning Database of new and promising pharmaceutical products. The contract was awarded by the International Horizon Scanning Initiative (IHSI), a multi-nation European group.
Under the terms of the multi-year contract, ECRI will develop, curate, and maintain a database of pharmaceuticals expected to enter the European market within the next two and a half years. ECRI will also create IHSI High Impact Reports which will provide critical insights and information about new medications that show highest potential to disrupt the market.
Both the database and High Impact Reports are expected to level the playing field for stakeholders involved in the decision-making process for the pricing and reimbursement of pharmaceuticals, and may consequently aid potential price negotiations.
“By applying our deep expertise and unbiased objectivity, ECRI will build a high-quality system that IHSI can rely on for the most accurate understanding of the future impact of healthcare technology and drugs,” says Marcus Schabacker, MD, PhD, president and chief executive officer of ECRI. “We look forward to improving access to innovative, safe, and effective medicines for millions of people worldwide.”
ECRI is uniquely qualified to provide horizon scanning services due to its current work with the Patient Centered Outcomes Research Institute (PCORI) and previous work with the Agency for Healthcare Research and Quality (AHRQ) to build and maintain the first U.S. Healthcare Horizon Scanning System.
ECRI brings significant experience in assessing new treatment models, procedures, and technologies with potential to cause significant disruptions in one or more areas of healthcare. ECRI has a track record of building high-quality healthcare information systems and has worked with government agencies, medical associations, and industry bodies since 1968. ECRI serves more than 5,000 customers worldwide.
“ECRI’s independence, evidence-based approach, and advanced use of data science, artificial intelligence, and technology make ECRI an ideal partner,” says Marcus Guardian, general manager, IHSI.
The Belgium-based IHSI launched in 2019 with the aim of pooling resources into the large-scale collection of data on upcoming pharmaceuticals. Eight European countries, representing 73 million people have committed to supporting IHSI, and there is significant interest from several nations further afield. Within these eight countries, national expert bodies collaborate to make IHSI the key vendor of open source, reliable data to support informed decision-making.