Premier Inc. has a front-row seat to the health-care industry's battle against Covid-19.
The pandemic took many by surprise. It exploited weaknesses within health-care systems, highlighting some of the industry's decades-long problems. The virus spread quickly, and it became nearly impossible to get in front of it. Covid-19 also left health systems running dangerously low on critical personal protective equipment, or PPE.
Charlotte-based Premier (NASDAQ: PINC) stepped in to help. The company forms an alliance of more than 4,000 U.S. hospitals and health systems and about 175,000 other providers. It moved quickly to help solve supply issues and implemented technology to give health-care providers more of an edge over the virus.
At the same time, Premier was navigating its own changes. It eliminated dual-class ownership, moving all shareholders to Class A common stock. The firm also amended contracts within its group purchasing organization, a group of businesses with collective buying power that negotiates discounts on bulk supplies. The changes were meant to remove complexity in the company's structure, stemming from going public seven years ago.
Premier is set to release its latest quarterly earnings on Tuesday.
Susan DeVore, CEO of Premier, has watched her company and the rest of the industry make progress on Covid-19. However, the fight is far from over. The Charlotte Business Journal talked with DeVore this week about how the company continues to tackle these challenges, what needs to change and how Premier is positioning itself for the future.