A number of criteria are considered during the identification, review and selection of a new product or technology at Premier, including, but not limited to:
- Clinical impact
- Cost effectiveness
- Physician preference
- Environmental impact
- Breakthrough potential
- Member input
Premier’s product selection process is designed to be:
- Standardized, but flexible. Many factors go into the ultimate selection of a product for contract. The best available clinical and market knowledge and expert review give Premier member hospitals the information they need to make sound product choices.
- Evidence-based. Products must be FDA-approved and demonstrate that they perform what they are designed to do in a safe and effective manner. A number of resources are used to gather information about products, including: randomized controlled trials published in peer-reviewed professional journals, case studies, market guides or product comparisons, field trials, clinical staff surveys, quality monitors, customer satisfaction data, and financial data. In addition, Premier’s Safety Institute may evaluate product-related information/data involving patient and worker safety as well as environmental issues.
- Metric driven. The functionality of a product must be able to be objectively measured.
- Transparent. Premier’s ultimate goal is to assure that all suppliers and products are considered and evaluated in a consistent, timely and fair manner, regardless of the size of a company, the breadth of its product line, or its relationship with Premier.
- Dynamic. Premier’s product planning process is shaped by the ever-changing needs of its members.
- Diversity friendly. Partnering with Premier does not necessarily mean you must be capable of supplying your products nationally. Opportunities exist for suppliers who are regional and in some cases local in scope. Premier encourages interest from diverse suppliers, including small businesses and those owned by veterans, women and minorities.
- Interdependent. No product evaluations or contracting decisions are made in a vacuum. Premier relies on the input of its members for decisions regarding new product categories and individual contracts. Member-based committees comprised of clinicians and others regularly meet to review new products and proposed contracts.
- Ethically driven. Premier fully endorses and supports the healthcare group purchasing industry Code of Conduct, which underscores the commitment of our organizations to help healthcare providers deliver the best in quality healthcare at a reasonable cost, and to do so in a way that is ethical and fair to all participants in the healthcare marketplace.