CHARLOTTE, N.C., Feb. 14, 2014 (GLOBE NEWSWIRE) -- Greater New York Hospital Association (GNYHA), one of the nation's most influential healthcare trade associations, expanded its partnership with Premier, Inc. (Nasdaq:PINC) to implement new population health analytics and advisory services across its membership base. GNYHA, a longtime Premier group purchasing partner and its largest owner member, will also collaborate with Premier on policy research.
The partnership has three components:
Analytics for population health management: Premier's PopulationAdvisor™ suite, which includes population health analytics solutions from Verisk Health, will be installed at participating GNYHA members with risk-based agreements to drive advanced insights on the costs and service use of defined patient populations. The solution manages and analyzes both claims and clinical information to help providers make better financial, operational and clinical decisions. It also helps providers:
- Improve clinical outcomes by filling gaps in care commonly associated with preventable procedures, readmissions, and emergency department visits; and
- Identify and manage current and future high-risk, high-cost patients and populations.
Advisory services for population health management: Premier will advise a collaborative of GNYHA member safety net hospitals on ways to restructure their primary care and other clinic services to better manage the health of defined populations. Premier will conduct on-site evaluations to assess baseline population health capabilities, as well as manage the collaborative. The goal of these efforts is to identify patient populations with serious multiple chronic conditions and/or overuse of services, recommend best practices for care management, and offer new solutions and processes to improve outcomes at a reduced total cost.
Policy research for inpatient services: Using Premier's proprietary database, which contains information on 25 percent of all hospital discharges, Premier and GNYHA will conduct a comprehensive study of the marginal cost of individual complications of care, such as treating hospital-acquired infections. Understanding the potential savings associated with activities to improve quality and patient safety will help hospitals strengthen those activities.
Terms of the partnership, under which GNYHA will pay Premier for the analytics, advisory services, and research over a three-year period, were not disclosed.
"This expansion of our partnership with Premier validates GNYHA's commitment to help our member hospitals in their population health journey," said GNYHA President Kenneth E. Raske. "It also affirms our faith and investment in Premier as a national leader in helping hospitals improve quality and lower costs."
According to Karen Heller, GNYHA's executive vice president for health economics, finance and outcomes research, "This partnership presents a valuable opportunity to work with Premier's outstanding consulting and research teams to offer our members concrete, practical assistance. We believe these efforts will help our members achieve the triple aim of better population health status, improved health service quality, and more efficient service delivery."
Premier's President and CEO Susan DeVore said, "Combining integrated, actionable intelligence with the power of collaboration yields insights that providers can use to anticipate and design care that meets a population's needs. We value the opportunity to expand our partnership with GNYHA and help their members better care for people across New York."
Premier's population health management offerings are accessible in PremierConnect™, an integrated technology and social networking platform. PremierConnect houses patient data on 1 in 4 U.S. hospital discharges, evidence-based best practices from 2.5 million daily clinical transactions, and $40 billion worth of annual provider purchases. Users can also interact and share information to ensure best practices are implemented nationwide.
Last November, Premier was designated by the global research firm KLAS as an early leader in population health management.
PopulationAdvisor includes solutions from Verisk Health, a global leader in healthcare risk management. Verisk Health is a subsidiary of Verisk Analytics (Nasdaq:VRSK).
Greater New York Hospital Association (GNYHA) is a trade association comprising nearly 250 hospitals and continuing care facilities, both voluntary and public, in the metropolitan New York area and throughout New York State, as well as in New Jersey, Connecticut, and Rhode Island. GNYHA is a dynamic, constantly evolving center for health care advocacy and expertise, but its core mission—helping hospitals deliver the finest patient care in the most cost-effective way—never changes. GNYHA operates the largest business enterprise of any trade association in the U.S. through its for-profit arm, GNYHA Ventures, Inc. These efforts generate billions in commerce while also delivering tremendous value for GNYHA members. Working with GNYHA, GNYHA Ventures navigates the world of business advocacy to help improve hospital operations and provide industry-leading transparency and cost reduction.
About Premier, Inc.
Premier, Inc. (Nasdaq:PINC) is a leading healthcare improvement company, uniting an alliance of more than 2,900 U.S. hospitals and nearly 100,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and advisory and other services, Premier enables better care and outcomes at a lower cost. Premier, a Malcolm Baldrige National Quality Award recipient, plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier's news and investor sites on www.premierinc.com; as well as Twitter, Facebook, LinkedIn, YouTube, Instagram, Foursquare and Premier's blog for more information about the company.
Matters discussed in this release that are not statements of historical or current facts, such as GNYHA's continued use of Premier's supply chain services, population health analytics and advisory services at current or expanded levels, as discussed herein, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as "believes," "belief," "expects," "estimates," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Forward-looking statements may include comments as to Premier's beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Premier's control. More information on potential factors that could affect Premier's financial results is included from time to time in the "Forward Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Premier's periodic and current filings with the SEC, as well as those discussed under the "Risk Factors" and "Forward Looking Statements" section of Premier's IPO Prospectus, dated September 25, 2013, filed with the SEC and available on Premier's website at investors.premierinc.com. Forward looking statements speak only as of the date they are made. Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date.
CONTACT: Alven Weil, Premier, Inc., Alven_Weil@PremierInc.com, 704.816.5797