Only company to achieve highest scores for value-based care, financial improvement, and strategy and growth consulting in annual industry report
CHARLOTTE, N.C. — Premier Inc. (NASDAQ: PINC), a leading healthcare improvement company, has been recognized for the second year in a row as the highest overall rated organization of all firms in the broad healthcare specific category in KLAS’s 2017 Healthcare Management Consulting report.
KLAS, a research and insights firm on a global mission to improve healthcare delivery by amplifying the provider’s voice, rated the performance of 19 established healthcare organizations and their solutions by soliciting feedback from hospitals and health systems that use their services. Specifically, Premier earned an overall score of 93.6 as a broad healthcare-specific firm, a higher score than any other organization in the 2017 report. Premier is the only company to have earned top overall recognition in all three categories in the healthcare management consulting report for two years in a row.
In addition, the report rated Premier the highest in the subcategories of value-based care, financial improvement, and strategy and growth consulting for the second year in a row.
“We greatly value our continued recognition as the leader in helping hospitals and health systems navigate new challenges and achieve success in today’s value-based healthcare environment,” said Kelly Rakowski, senior vice president of advisory and collaborative services, Premier. “Every day, we work closely with our members to support them in their ongoing journey of improvement. Armed with robust data analytics and evidence-based practices, Premier consultants are committed to helping providers gain efficiencies, reduce costs, and improve quality and population health across all settings of care.”
Respondents noted that Premier’s comprehensive array of clinical, financial and operational data and analytics, combined with its skilled and trusted experts, are unique capabilities that help them identify opportunities to increase efficiencies and standardize care across their facilities.
“I have worked with all of the big consulting firms, and they had talented people, but they never had the data that Premier has. They couldn’t identify opportunities and really drive toward the best results. Premier can do that,” noted a respondent in the report.
Another respondent said, “Premier was our trusted partner. Success with a consulting firm always comes down to the people.”
For the second year in a row, Premier achieved the highest score for providing value-based care consulting services that improve quality and patient care, reduce population risk, and deliver better patient outcomes and experiences. Premier was also a top rated firm for value-based care consulting in KLAS’s 2015 Value-Based Care Report.
Premier has extensive experience in helping providers implement value-based payment models. This includes a 100 percent success rate in helping eligible providers apply for the Centers for Medicare & Medicaid Services (CMS) Medicare accountable care organization (ACO) programs. In addition, Medicare ACOs participating in Premier’s Population Health Management Collaborative have outperformed their peers in achieving shared savings and quality improvement by an average of 57 percent since 2012.
Premier achieved the highest score for helping providers improve financial performance targeting and identifying cost saving opportunities within clinical, labor, supply chain and hospital operations – helping improve margins, standardize processes and increase efficiency. This is the second year in a row Premier has earned the highest overall score within this category. The report also recognized Premier’s work in human capital consulting.
Strategy, Growth & Consolidation
Premier earned a score of 96.7 for helping hospitals and health systems navigate through complex mergers, acquisitions and growth of their enterprises. This work streamlines decision-making, reduces operational redundancies, integrates physicians and independent practices within the health system, enhances integration between providers and payers and improves their ability to leverage growth strategies. This is the second year Premier received the highest marks on this category.
With clinical insights on 45 percent of U.S. hospital discharges, forward-thinking performance improvement collaboratives and $56 billion in annual purchasing data, Premier consultants work to meet the needs of healthcare providers as embedded partners through onsite assessments, one-on-one coaching, peer-to-peer collaboration, 24/7 on-demand data tools, and virtual education.
“Premier has played a big role in our success. When we implement their recommendations, we get excellent results,” said another respondent in the KLAS report.
Additionally, Premier was named the Best in KLAS Overall Healthcare Management Consulting Firm in the 2017 Best in KLAS report, which was a separate KLAS report published in January 2017. The 2017 report also rated Premier Best in KLAS for value-based care, financial improvement, and strategy, growth and consolidation consulting.