Initial areas of focus include aligning physicians, optimizing
finances and collaborating with affiliated medical groups
CHARLOTTE, N.C.--(BUSINESS WIRE)--
Premier Inc. (NASDAQ: PINC), a leading healthcare improvement company,
is launching a new performance improvement collaborative to help health
systems navigate the integration and alignment of employed and
affiliated medical groups while optimizing overall practice performance.
Leveraging Premier’s® proven collaborative methodology,
supported through advisory expertise and unparalleled business
intelligence, the Physician
Enterprise Collaborative seeks to help medical groups identify
margin improvements equivalent to 5 to 7 percent of professional net
patient revenue (cash collections of billing activity).
As they manage cost and quality imperatives, health systems are
employing or becoming affiliated with greater numbers of physicians.
However, health systems often find the transition difficult, as
integration with physicians requires training, cultural adoption of new
management structures and pacing to ensure clinicians do not feel burned
out by the transition. All of these investments add up and can often
result in losses for the health system. Recent
figures from the American Medical Group Association suggest
integrated health systems saw their median loss per physician increase
from $211,000 in 2016 to $243,000 in 2017 and studies
have shown that more than 54 percent of physicians experience at least
one sign of burnout.
“With the transition to value-based care, physician organizations are
focusing more on network strategy, and therefore, the size of the
medical group is increasing as we see more practice and system
acquisitions occurring,” said Chris Smedley, vice president of physician
enterprise solutions at Premier. “The current challenges are being
compounded by this growth as medical group leaders must address new
market competitors, evolving organizational and governance models,
quality and pay-for-performance measures, compensation plan redesign,
increasing complexities in the regulatory environment, declining
reimbursement, limited resources and new operational challenges as we
begin to change the way that we deliver care in a value-based payment
environment.”
Designed by more than 20 health systems, Premier’s Physician Enterprise
Collaborative will bring health system and clinical leaders together to
challenge perceptions and practices related to medical group
performance. Leveraging the power of peer-to-peer learning, data-enabled
decision making and innovation, participants will develop, pilot and
evaluate new cost, quality and service-related improvement solutions.
Cohorts within the Collaborative will address the unique needs of
academic, community and large national systems. Premier collaboratives
have consistently performed substantially better than matched cohorts of
other organizations.
“Our differentiation is not just our proven collaborative methodology,
it is also our business intelligence platform that will enable
data-driven decision making. Since most clinical and administrative
leaders utilize our software to manage their day-to-day operations, it
is far more accurate than surveyed data when conducting benchmarking and
comparative analyses,” said Smedley. “Our physician practice performance
management solution is built on timely scheduling, billing, payroll and
general ledger data, making it one of the industry’s most reliable data
sets for practice management.”
Officially beginning in June 2018, Premier’s
Physician Enterprise Collaborative builds on the legacy of its
proven methodology for performance improvement, enabling providers to
learn from top performers, share data and outcomes, and accelerate and
sustain quality, efficiency, cost and safety innovations across their
organizations. Premier operates more than 10 performance improvement
collaboratives, ranging from bundled payments to quality improvement.
About Premier Inc.
Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company,
uniting an alliance of approximately 3,900 U.S. hospitals and health
systems and approximately 150,000 other providers and organizations to
transform healthcare. With integrated data and analytics,
collaboratives, supply chain solutions, and consulting 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.
Forward-looking statements of Premier Inc.
Matters discussed in this release that are not statements of historical
or current facts, 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.