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Premier healthcare alliance
Illinois hospital saves $3.5 million in first year partnership with the Premier healthcare alliance to improve care
Edward Hospital & Health Services also a development partner for Premier's new technology linking physician group practices to improve outcomes and finances
CHARLOTTE, N.C. (March 5, 2012) – Since joining the Premier healthcare alliance last year, Edward Hospital & Health Services has saved $3.5 million while improving clinical quality and patient safety.
Based in Naperville, Ill., Edward Hospital works with the alliance's more than 2,500 providers to deliver highly efficient healthcare. They do so by using Premier's technology and collaborative services, as well as its national purchasing network.
Premier has helped Edward Hospital identify nearly $6.2 million in savings – 250 percent of their one-year goal. Additionally, they worked with Premier field specialists to:
- Save nearly $1.13 million on exact-match med-surg and pharmacy contracts;
- Identify $970,000 in savings by standardizing and converting purchasing practices through Premier's ASCEND® (Accelerated Supply Chain Endeavor) program;
- Ensure efficient distribution resulting in $469,000 in savings annually; and
- Renegotiate food service contracts to reduce management fees and move food distribution to Premier's contracted supplier, US Foods, for a savings of more than $500,000.
Accessing severity-adjusted comparative data from Premier, Edward Hospital will also save more than $390,000 annually by eliminating off-label use of bone morphogenic proteins. The data allows them to benchmark and compare performance with top hospitals nationwide to more effectively use resources.
"Health reform has given all providers a new impetus to transform the way they deliver care," said Vince Pryor, chief financial officer at Edward Hospital. "Premier understands the nexus of cost and quality. We are pleased with our partnership to enhance ongoing efforts while maintaining our state and nationally recognized clinical quality."
Edward Hospital will continue its performance improvement efforts by using PhysicianFocus, an InformationWeek 500 technology that links physicians and hospitals across different practices and specialties to integrate care delivery.
In addition, they serve as a development partner for PhysicianFocus Ambulatory, a new product measuring quality outcomes through physician practice data to better understand the relationship between patient populations, outcomes, care and finances. PhysicianFocus Ambulatory supports clinical integration models, bringing together hospitals and physicians across different practices and specialties to improve patient-centered care.
"With Premier's help we can move beyond product price to create a culture of evidence-based practices. Maintaining top performance is always our goal," said Pryor.
Edward Hospital became an owner of the alliance to significantly reduce costs and identify opportunities for quality and safety improvement using Premier products, services and programs, including:
- Regional and national purchasing collaboratives, like ASCEND, which has helped hospitals save $56+ million by aggregating, monitoring and analyzing supply chain data to improve performance;
- SpendAdvisor® MySpend data to analyze supply spend and compare it with like organizations to find savings opportunities; and
- QualityAdvisor data to compare and benchmark clinical performance against top alliance hospitals.
About Edward Hospital & Health Services
Edward Hospital & Health Services is a full-service, regional healthcare provider offering access to complex medical specialties and innovative programming. Edward Hospital has 309 private patient rooms and 4,300 employees, including 1,350 nurses and a medical staff of 1,000 physicians, representing nearly 70 medical and surgical specialties and subspecialties. Ninety-eight percent of Edward's physicians are board certified. www.edward.org.
About the Premier healthcare alliance, Malcolm Baldrige National Quality Award recipient
Premier is a performance improvement alliance of more than 2,600 U.S. hospitals and 86,000-plus other sites using the power of collaboration and technology to lead the transformation to coordinated, high-quality, cost-effective care. Owned by hospitals, health systems and other providers, Premier operates a leading healthcare purchasing network with more than $4 billion in annual savings. Premier also maintains the nation's largest clinical, financial and outcomes database with information on 1 in 4 patient discharges. A world leader in delivering measurable improvements in care, Premier works with the Centers for Medicare & Medicaid Services. Headquartered in Charlotte, N.C., Premier also has an office in Washington. https://www.premierinc.com. Stay connected on Facebook, Twitter and YouTube.