The partnership with Predixion Software, a leading developer of a cloud-based predictive analytics platform, will help providers quickly gain actionable insights and recommend interventions at the frontlines of care. Predixion enables business analysts and non-technical users to access predictive analytics at the point of decision. As part of the partnership, Premier and Predixion will co-develop new predictive solutions for health systems as they build care management models to improve population heath, such as accountable care organizations (ACOs).
The first solution being implemented is a data-driven app, powered by Predixion and part of Premier's population management analytics suite, that delivers real-time risk scores to providers on patients at risk for readmission while they are still in the hospital. Considered the most accurate solution for predicting and preventing readmissions, the app also provides targeted interventions for each patient at risk, enabling hospital staff to quickly provide needed care before patient discharge.
"The work behind preventing readmissions starts in the hospital. It is essential that hospitals identify patients with the highest risk and begin post-acute care planning before they are sent home," said Keith J. Figlioli, Premier senior vice president of healthcare informatics and member of the Office of the National Coordinator's Health IT Standards Committee. "Our partnership with Predixion provides healthcare organizations with valuable, accurate predictive capabilities that are integrated with the data and analytics our members use, enabling them to effectively manage population health, improve quality and outcomes, and lower costs."
Potentially preventable readmissions cost the healthcare industry an estimated $25 billion annually. Healthcare organizations can also incur costly penalties of up to 3 percent of their total revenues from the Centers for Medicare & Medicaid Services (CMS) when patients with certain diagnoses are readmitted within 30 days.
"Actionable risk stratification initiatives are a crucial step in improving the health of communities and reducing costs," said Simon Arkell, CEO, Predixion. "We are thrilled to be partnering with Premier to support its vast network of healthcare organizations in managing population health."
PremierConnect's population management analytics suite improves health and reduces costs by preventing unnecessary procedures, readmissions and emergency department visits. It helps providers see a more complete picture of patient care, with a better understanding of outcomes and total cost. The suite also helps providers communicate with patients in a more efficient and timely manner, and become more engaged in their own health.
As part of the partnership, Premier will incorporate Predixion's readmissions solution, as well as other newly developed predictive applications into its data warehouse and business intelligence capabilities in PremierConnect Enterprise.
All Premier services are available in PremierConnect, which aggregates patient data on 1 in 3 U.S. hospital visits and approximately $41 billion in annual provider purchases. It also enables real-time member interactions across the nation.
Since 2010, Premier has been named to the InformationWeek 500 annual listing of the top technology innovators in the nation. The company was designated as an early leader in population health management by KLAS in 2013. Premier also received the 2014 IBM Beacon Award, 2013 CIO 100 Award and 2012 CTO Innovation Award.
About Predixion Software
Predixion was founded on the belief that predictive analytics have the power to create a smarter, safer and healthier world – and that access to that power should not be limited. To achieve this vision, Predixion developed Predixion Insight™, a cloud-based analytics platform, to enable and expedite the deployment of predictive analytics into a wide variety of production environments. Predixion specializes in the "Last Mile of Analytics™"— that is getting the power of predictive insights to the front lines where decisions are made. More than 200 companies worldwide rely on Predixion to make better decisions every day. For more information visit www.predixionsoftware.com.
About Premier, Inc.
Premier, Inc. (Nasdaq:PINC) is a leading healthcare improvement company, uniting an alliance of approximately 3,000 U.S. hospitals and 110,000 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.