Procedure Finder National Trending Offers Medical Device Providers an Unprecedented View of Market Changes, According to Millennium Research Group
TORONTO--(BUSINESS WIRE)-- Millennium Research Group (MRG), the global authority on medical technology market intelligence, announced today that it has launched Procedure Finder National Trending, a dynamic, web-based source of hospital procedure volumes that allows medical device manufacturers to stay aware of changes and trends in procedure volumes that affect their product markets.
Procedure Finder National Trending provides clients with MRG-defined procedures or code-level estimates based on ICD-9, CPT and HCPCS claims information provided by approximately 350 hospitals nationwide. Previously, most procedure volume information available was updated annually, with lags as long as 18 months. After a lengthy development process, MRG can now provide its clients with timely information, updated regularly, at the level of reliability MRG demands of all of its products.
“Without accurate and recent procedure volume information, it’s difficult to make effective business decisions in this industry,” said MRG vice president, Ken McLaren. “Device manufacturers need to know whether the number of devices they’re selling is consistent with the size of the market. But physicians are constantly adopting new practices, changing their procedures and responding to new reimbursement schedules from insurers. The mix of procedures can change quickly and unexpectedly. If it takes as long as a year to detect that change, certain devices could be left behind. With Procedure Finder National Trending, companies can stay on top of those trends.”
Over 60 key procedures types relevant to the medical device market are available for the cardiovascular, orthopedics, oncology, urology and gastrointestinal markets.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources, Inc.
Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at www.DecisionResourcesInc.com.
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INDUSTRY KEYWORDS: Health Biotechnology Hospitals Medical Devices