Premier Inc. Acquires 100 Top Hospitals® Program
February 22 2023 - 7:45AM
Business Wire
- Program will enable the company to recognize top-performing
hospitals and health systems nationally for quality, safety and
service line excellence.
- Purpose and methodology of the program tightly integrates with
existing PINC AI™ analytics, benchmarking and performance
improvement collaborative measures.
- Strong program brand and widespread participation will broaden
PINC AI™ reach to new customers, allowing the company to set
industry standards for operational excellence, as well as
consulting and technology tools that enable better community health
outcomes.
Premier Inc. (NASDAQ: PINC) acquired the 100 Top Hospitals®
program from Merative (formerly IBM Watson Health). The program
will be integrated within PINC AI™, Premier’s technology and
services brand.
Launched in 1993 by Truven Health Analytics, the primary purpose
of the 100 Top Hospitals program is to inspire hospital and health
system leaders to pursue higher performance and deliver added value
to their patients and communities. The program develops and
provides scorecards derived from nationally recognized metrics and
is published annually by Fortune as the 100 Top Hospitals, 15 Top
Health Systems and 50 Top Cardiovascular Hospitals.
“For years, the 100 Top Hospitals program has set the standards
for care quality and outcomes,” said Michael J. Alkire, President
and Chief Executive Officer of Premier. “Consumers view the annual
rankings to help determine providers of choice, while payers use
the data to select health system partners for value-based care and
direct-to-employer contracting. Because objective measures of
performance are so critical, we believe this acquisition will
cement PINC AI™ as a trusted one-stop-shop for healthcare cost and
quality improvement. We believe we can build on the program’s
strong legacy as an honest, objective evaluator of performance,
while leveraging our expertise to enhance and expand non-biased
measurements to make a bigger impact across a broader swath of
health systems.”
In addition to the rankings, the 100 Top Hospitals program also
provides organizational leaders with access to custom reports,
technology to accelerate improvement and expert-led engagements to
optimize performance.
“The acquisition of the 100 Top Hospitals program tightly aligns
with the PINC AI™ technology suite, consulting expertise and
performance improvement collaboratives, all of which will work
synergistically to enable health systems nationwide to deliver
better outcomes and lower costs,” said Leigh Anderson, Premier’s
President of Performance Services and the leader of PINC AI™.
“Because of the tight alignment with our mission to improve the
health of communities, we anticipate that we will be able to
rapidly integrate the 100 Top Hospitals within the PINC AI™
platform. In addition, we believe the program’s broad reach and
strong brand recognition will enable us to build relationships with
non-member health systems.”
Effective immediately, PINC AI™ will own and maintain the 100
Top Hospitals program branding, trademarks, web domains, scorecard
methods and historic data. The program will remain 100 percent
objective, scorecarding eligible facilities based on publicly
available data, regardless of group purchasing organization (GPO)
affiliation or technology partnerships. Scorecards will continue to
be published by Fortune.
Forward-looking statements
Statements made herein that are not statements of historical or
current facts, including, but not limited to, those related to the
success of this acquisition, 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 the Company 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 the Company’s beliefs and expectations as to future financial
performance, events and trends affecting its business and are
necessarily subject to uncertainties, many of which are outside the
Company’s control. More information on potential factors that could
affect the Company’s financial results is included from time to
time in the “Cautionary Note Regarding Forward-Looking Statements,”
“Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” sections of the
Company’s periodic and current filings with the SEC, including
those discussed under the “Risk Factors” and “Cautionary Note
Regarding Forward-Looking Statements” section of Premier’s Form
10-K for the year ended June 30, 2022 as well as the Form 10-Q for
the quarter ended December 31, 2022, made available on the
Company’s website at investors.premierinc.com. Forward looking
statements speak only as of the date they are made, and the Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information
or future events that occur after that date, or otherwise.
About PINC AI™
PINC AI™ is the technology and services platform of Premier Inc.
(NASDAQ: PINC). With more than 20 years’ worth of cost, quality and
operational data gleaned from 45 percent of U.S. hospital
discharges, 812 million hospital outpatient and clinic encounters
and 131 million physician office visits, the PINC AI™ platform
provides actionable intelligence to help advance industry research,
support improved financial performance and outcomes, and enable
success in new, alternative payment models. PINC AI™ offerings rely
on advanced analytics to identify improvement opportunities,
consulting services for clinical and operational design, and
workflow solutions to hardwire sustainable change. The PINC AI™
platform is also the data engine powering Premier’s newest brands –
Remitra® and Contigo Health®. With a leading network of provider
organizations, the PINC AI™ platform accelerates ingenuity and
serves as a large-scale innovation catalyst in healthcare. PINC AI™
offerings and capabilities can be followed on Twitter and
LinkedIn.
About 100 Top Hospitals®
For more than 28 years, the 100 Top Hospitals program has been
producing annual, quantitative studies designed to shine a light on
the nation’s highest performing hospitals and health systems.
Research is based on clinical, operational and patient
perception-of-care measures that form a balanced scorecard. To
increase understanding of trends in specific areas of the
healthcare industry, the program includes:
- 100 Top Hospitals: Annually recognizes the 100 top-rated
hospitals in the nation based on a proprietary, balanced scorecard
of overall organizational performance, and identifies those
hospitals that also excel at long-term rates of improvement in
addition to performance.
- 50 Top Cardiovascular Hospitals: An annual study
introduced in 1999 that identifies hospitals demonstrating the
highest performance in hospital cardiovascular services for four
important patient groups: heart attack, heart failure, coronary
artery bypass graft and percutaneous coronary intervention.
- 15 Top Health Systems: An annual study introduced in
2009 that provides an objective measure of health system
performance overall and offers insight into the ability of a
system’s member hospitals to deliver consistent top performance
across the communities they serve, all based on our national health
system scorecard.
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version on businesswire.com: https://www.businesswire.com/news/home/20230222005267/en/
Investor Contact: Angie McCabe Vice President, Investor
Relations 704.816.3888 angie_mccabe@premierinc.com
Media Contact: Amanda Forster Vice President, Public
Relations 202.879.8004 amanda_forster@premierinc.com
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