Hospital Engagement Network to participate in second round of CMS’ Partnership for Patients; approximately 450 hospitals avoided 58,102 readmissions and saved $749 million in first three years
CHARLOTTE, N.C. — Premier, Inc. (NASDAQ: PINC), a leading healthcare improvement company, has been awarded a contract from the Centers for Medicare & Medicaid Services (CMS) to participate in the second round of Hospital Engagement Networks in the Partnership for Patients initiative.
The Partnership for Patients initiative is focused on reducing preventable readmissions to hospitals by 20 percent and reducing preventable hospital-acquired conditions (HACs) by 40 percent. Premier has received approximately 500 letters of intent from hospitals to participate in its Hospital Engagement Network (HEN) for the second round of the program.
In the first three years of the program, Premier worked with approximately 450 hospitals participating in its HEN to reduce medical complications by 32 percent and all-cause, 30-day readmission rates by 6 percent. Specifically, Premier HEN hospitals avoided 58,102 readmissions and 19,760 adverse events, and saved nearly $750 million.
“We are excited to have the opportunity to continue working with a large group of hospitals to spread evidence-based healthcare improvements across the nation,” said Wes Champion, senior vice president of Premier Performance Partners. “Premier’s HEN will work to build on its accomplishments and achieve the goals of reducing preventable HACs and readmissions over the next year. These hospitals are committed to co-creating solutions that transform healthcare by transparently sharing data, outcomes and resources. We look forward to seeing the innovations they generate in the next round of this collaboration.”
The Partnership for Patients and participating HENs are part of an overall framework established by the Affordable Care Act to deliver better care and spend dollars more wisely. Since the launch of the Partnership for Patients, the vast majority of U.S. hospitals and many other stakeholders have joined the collaborative effort and delivered results. The Department of Health and Human Services has estimated that 50,000 fewer patients died in hospitals and approximately $12 billion in healthcare costs were saved as a result of a reduction in HACs from 2010 to 2013. Nationally, patient safety is improving, resulting in 1.3 million adverse events and infections avoided in hospitals in that time period. This translates to a 17 percent decline in HACs over the three-year period.
In round two of the program, Premier’s HEN will continue working at the regional, state, national and health system level to develop learning collaboratives for hospitals and provide a wide array of initiatives and activities to improve patient safety, as well as spread best practices to other providers. Premier will work with HEN participants to:
- Conduct intensive training programs to teach and support hospitals in making patient care safer;
- Provide technical assistance to hospitals so they can achieve quality measurement goals; and
- Establish, implement, and improve the system to track and monitor hospital progress in meeting the Partnership for Patients’ quality improvement goals.
The $9.3 million contract began September 24, 2015, and runs through September 23, 2016. The contract is expected to contribute approximately $7.0 million in revenue to Premier’s fiscal 2016 financial results. The company plans to update guidance accordingly during its Investor Day on October 6, 2015.
About Premier Inc.Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of approximately 3,750 U.S. hospitals and more than 130,000 other provider organizations. With integrated data and analytics, collaboratives, supply chain solutions, and advisory 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; as well as Twitter, Facebook, LinkedIn, YouTube, Instagram and Premier’s blog for more information about the company.
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