California-based health system builds on Premier partnership to align supply chain practices with value-based care goals
CHARLOTTE, N.C.— Adventist Health, a faith-based, non-profit integrated health system serving communities on the West Coast and Hawaii, is leveraging Premier Inc.’s (NASDAQ: PINC), technology and services to undertake a major strategic supply chain optimization initiative aligned with its value-based care delivery goals.
A member of Premier for nearly 25 years, Adventist has engaged Premier’s team of industry-leading consultants to foster more effective management of its supply portfolio and reduce non-labor expenses, as well as accelerate the development of an innovative, world-class supply chain model. As part of the effort, Adventist will also be implementing service line analytics capabilities via the PremierConnect® performance improvement platform to pinpoint and prioritize opportunity areas. These new services build on and complement Adventist’s ongoing relationship with Premier in the areas of group purchasing; performance improvement collaboratives; and financial, operational and quality analytics in PremierConnect.
"Premier has been an exceptional supply chain partner as we have worked to reduce costs and drive out waste across our system,” said Bill Wing, President at Adventist Health. “We are transforming Adventist Health from the traditional fee-for-service model of care to a value-based approach. That approach creates a business model for us to invest in building healthier communities and healthier people instead of just more healthcare. To succeed in that vision, we are looking for every opportunity to reduce the cost of providing care, without compromising quality. Premier has been an integral part of helping us develop one of the top performing supply chains in the nation. We believe their expertise can help us take the necessary steps to evaluate and refine our purchased service spend. Every dollar we can save on operations creates an opportunity for us to reinvest in our mission and our communities. We look forward to seeing what we can accomplish together."
Premier’s unique service line analytics automate the integration of supply chain and pharmaceutical spend, utilization trends and clinical outcomes information to target operational improvement opportunities with the largest return on investment while maintaining or improving quality. Coupled with Premier’s expert consulting services and years of industry experience, Adventist now has the capabilities to build a best-in-class supply chain with a decision-making infrastructure that supports its comprehensive care delivery and operational redesign strategy.
“Today’s high-value healthcare landscape demands that providers adopt a holistic approach to their financial, operational and care delivery models,” said Leigh Anderson, President of Performance Services at Premier. “Adventist has excelled in this new healthcare environment as a top performer, continuously adapting to deliver high-quality, low-cost care to its communities. We are thrilled to support them in this endeavor as they create a supply chain system that complements their care delivery model and thrives in a value-based market.”
The financial impact of the agreement was not disclosed.
Matters discussed in this release that are not statements of historical or current facts, such as Adventist Health anticipated use of Premier’s performance and supply chain 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.
About Premier, Inc.
Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of approximately 4,000 U.S. hospitals and health systems and approximately 165,000 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 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.