Academic health system engages Premier to drive enterprise-wide improvements in quality and costs

CHARLOTTE, N.C.--(BUSINESS WIRE)-- The University of Virginia Health System (UVA), a 600-bed academic medical center serving the Commonwealth, Mid-Atlantic and beyond, has signed a multi-year agreement with Premier Inc. (NASDAQ: PINC), a leading healthcare improvement company, to access total cost and quality management services, and integrated data and analytics to improve performance across its organization.

“UVA is a world-class academic healthcare institution whose mission aligns with Premier’s goals of improving care and reducing costs,” said Susan DeVore, president and CEO of Premier. “As a leading provider of technologically-advanced, groundbreaking care, we aim to support and enhance UVA’s status as a leading healthcare provider of choice.”

Ranked among the nation’s top hospitals, UVA has partnered with Premier to use a bundled enterprise-wide performance improvement and supply chain service offering, which includes group purchasing services, as well as robust data and analytics from the PremierConnect^® performance improvement platform. PremierConnect integrates clinical, financial and outcomes information, enabling providers to view care delivery utilization and variation, compare effectiveness, prioritize areas of improvement, and project performance on value-based payment models across the continuum. UVA will also engage Premier’s industry-leading consultants to improve quality, reduce care delivery costs, and drive and sustain efficiencies across its organization.

“Our work with Premier will strengthen our mission of providing excellent, innovative and superlative quality care to our patients,” said Richard P. Shannon, MD, executive vice president of health affairs at UVA.

UVA is a member of America’s Essential Hospitals, which represents more than 300 hospitals dedicated to caring for the vulnerable and training the nation’s healthcare workforce. Premier has an exclusive partnership with America’s Essential Hospitals to drive new advances in care quality, costs and population health at essential hospitals.

Andrew Ziskind, MD, senior vice president of academic health system strategy at Premier, said, “Academic health systems are grounded in their commitment to research, teaching, clinical care and service to their communities. As these institutions undergo a transformation to excel in value-based care and population health management, they need the right data, analytics and solutions. Premier’s extensive experience, robust work with healthcare stakeholders, integrated technology assets and reputation are unmatched in helping academic health systems improve quality, reduce care delivery costs and succeed in alternative payment models.”

The financial terms of the enterprise-wide agreement were not disclosed. The partnership is not expected to materially impact Premier’s fiscal 2018 financial results.

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.

Forward-looking statements
Matters discussed in this release that are not statements of historical or current facts, such as the University of Virginia Health System’s anticipated use of Premier’s supply chain and performance services at expected 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 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.

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Source: Premier Inc.