Premier in Three Words: Health Care Efficiency

The health care industry is complex. There are many disparate members of the ecosystem that need to work together, but they are often siloed, complicating easy interaction. Premier Inc. interfaces will all members of the complex ecosystem and helps them work together smoothly.

The company started as a group purchasing organization in 1996 and over the decades have gathered billions of data points and knowledge through interaction with its over 4000 members. It therefore has expanded its global Supply Chain Services business to also include Performance Services, where members benefit from the data and the relationships Premier has built amongst the members of the health care ecosystem. The Performance Services business has developed tools that utilize its data to help its members work smarter and more efficiently. The company also has consulting services as well as an advocacy organization to liaise between its members and policymakers.

Premier’s members include both providers (large and small hospital systems and health plans) and suppliers (pharma and medical device manufacturers) of health care. It also has as members schools and universities and other organizations that can benefit from a group purchasing organization. Members also benefit from Premiers knowledge and relationships, particularly with the Department of Health and Human Services (HHS) and its subgroup, the Center for Medicare and Medicaid Services (CMS.) The company has been instrumental in educating and helping providers move to value-based health care. The company also shares input from its members with policymakers so that its members feel represented and heard. In fact, in its most recent annual survey of C-level executives, the company reported that >90% of health systems view Premier as a strategic partner. The company also enjoys a Net Promoter Score (NPS) of >70 and high renewal and retention rates (97% for its Supply Chain Services and 96% for its Performance Services, SaaS products.)

Premier understands and appreciates the challenges that members of the health care ecosystem face. With its large membership base and strong relationships, the company is uniquely positioned to help its members reduce costs, improve quality, and successfully navigate the complexities of the industry. Both of Premier’s business units, Supply Chain Services and Performance Services, help its members reduce costs of care and improve operational efficiencies, saving its members millions of dollars and improving margins, in addition to improving care.