Leader in providing comprehensive care accessing Premier’s full suite of integrated supply chain, technology and performance improvement services
The 401-bed healthcare system’s acute care hospital, University Medical Center of Princeton (UMCP), has consistently earned accolades for clinical quality, safety and patient satisfaction and has engaged Premier for assistance in further enhancing its efforts.
UMCP earned The Joint Commission’s designation as a Top Performer for Key Quality Measures® for three years in a row and recently received an “A” from The Leapfrog Group, a nonprofit dedicated to improving the safety, quality and affordability of healthcare. Overall inpatient satisfaction at UMCP currently ranks in the top 1 percent of hospitals in New Jersey.
Under the multifaceted contract, PHCS will access Premier’s integrated supply chain, performance and technology services system-wide. This is the first time Premier has partnered with PHCS.
“In today’s environment of shrinking reimbursements and other financial challenges, we are searching for innovative ways to become more cost-efficient while we continue to provide outstanding clinical care,” said Barry S. Rabner, PHCS president and CEO. “We believe working with other hospitals, academic institutions and research facilities within Premier’s alliance will help us identify new efficiencies while improving the already exceptional care we provide.”
PHCS will leverage Premier services that are designed to help lower the cost of care, deliver continuous quality improvement and drive operational efficiencies. These services include:
- One of the largest group purchasing organizations, which includes products and services across approximately 1,900 contracts, including 30 percent of the nation’s hospital purchasing volume for medical supplies and pharmaceuticals across;
- Advisory services to identify opportunities for enhanced resource utilization to reduce costs;
- Premier’s full suite of quality, safety, labor and supply chain performance improvement analytics.
Premier also will support PHCS’s Value Analysis Program, a previously existing initiative in which teams of clinical, financial and operational staff members work together to introduce or standardize supplies, devices, services and technologies.
“Using integrated data to stop harm and infections, and eliminate unjustified variation is becoming a prerequisite to success,” said Susan DeVore, Premier president and CEO. “Princeton HealthCare System is an industry leader in providing comprehensive services to succeed in these areas. We look forward to working with them to help further their mission of continually improving care quality and service for the patients and communities they serve.”
All Premier services are available in the PremierConnect® integrated technology and social networking platform. The platform aggregates patient data on 1 in 3 U.S. hospital discharges and approximately $41 billion in annual provider purchases. It also enables real-time member interactions across the nation.
The terms of the agreement were not disclosed. The partnership between PHCS and Premier was previously announced during Premier’s fiscal 2014 third quarter results conference call on May 12, 2014.
About Princeton HealthCare System
Princeton HealthCare System is a comprehensive, integrated healthcare system that strives to anticipate and serve the lifelong needs of central New Jersey residents, including acute care hospital services through University Medical Center of Princeton, behavioral healthcare through Princeton House Behavioral Health, rehabilitation, home care, hospice care, ambulatory surgery, a primary and specialty medical practice, and fitness and wellness services. For more information, visit www.princetonhcs.org.
About Premier Inc.
Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of approximately 3,750 U.S. hospitals and more than 130,000 other provider organizations. 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 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 the PHCS’s continued use of Premier’s supply chain and performance 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.