InformationWeek Names the Premier Healthcare Alliance 30th Best Technology Innovator on Top 500 List

Premier placed third in the healthcare industry, has been among the top 100 for three years in a row

CHARLOTTE, N.C.--(BUSINESS WIRE)--The Premier healthcare alliance has placed among the nation’s 100 top technology innovators on the InformationWeek 500 list for the third consecutive year. On 2012’s list, Premier was ranked 30^th, up from 59^th last year – and third in the healthcare industry.

“What the editors looked for are unconventional approaches—new technologies, new models, new ways of grabbing business opportunities and solving complex business problems with IT.”

Premier, along with more than 25 alliance members, were named to the list for their leadership in leveraging information technology in significant and innovative ways to support alliance members.

“The InformationWeek 500 has recognized the most innovative users of business technology for 24 years, and this year’s innovations were particularly impressive,” said InformationWeek Editor in Chief Rob Preston. “What the editors looked for are unconventional approaches—new technologies, new models, new ways of grabbing business opportunities and solving complex business problems with IT.”

Premier, a provider-owned improvement alliance of 2,600 hospitals and 88,000 other care sites including 400,000 physicians, maintains the nation’s largest database of clinical, financial and outcomes information. The comprehensive database contains information from 1 in 4 U.S. hospital discharges, 2.5 million real-time clinical transactions daily and nearly $43 billion in annual purchasing data.

In collaboration with members, Premier created a first-of-its-kind efficiency dashboard identifying 15 different categories of potential savings opportunities in hospitals.

Keith J. Figlioli, Premier senior vice president of healthcare informatics, said, “Even the best performing hospitals have opportunities for big savings in healthcare, but we can’t identify them without specific measures that effectively recognize and pursue those areas of opportunity. The dashboard provides analysis to enhance efficiencies and collect the associated savings, which provides significant national implications. I’m proud to see the hard work of Premier employees and alliance members acknowledged on such a prestigious list.”

In a recent analysis, the dashboard evaluated hospitals with opportunities for savings improvement. Of those, Premier calculated the average amount of savings that could be generated each year by a typical 200- to 300-bed community hospital. Through this process, the dashboard identified five areas with the biggest opportunity for average annual savings per hospital:

• Unnecessary labor expenses of $6.18 million;
• excess readmissions of $3.83 million;
• inappropriate length of stay of $2.63 million;
• skill mix dollar variance of $2.38 million; and
• unnecessary lab testing of $2.23 million.

The efficiency dashboard is customized by hospital to give the most information possible. It pulls data from Premier's comparative database and sets benchmarks based on top quartile performance. Hospitals receive quarterly reports showing areas where their organization falls below the benchmark and the magnitude of potential savings. Measures are tracked over time to show where progress has been made quarter to quarter. And measures are being continually assessed and expanded to help zero in on further opportunities for savings.

Premier integrates all of its quality, safety, labor and supply chain apps on its PremierConnect™ technology platform. Doing so allows providers nationwide to make decisions based on a holistic combination of healthcare information. In partnership with IBM, PremierConnect is also an enabler for providers to interact as one in communities of common interest, sharing learnings, data and strategies based on thousands of patient outcomes that can be used to benefit treatment anywhere.

InformationWeek identifies and honors the nation's most innovative users of information technology with its annual 500 listing, and also tracks the technology, strategies, investments and administrative practices of America’s best-known companies.

The InformationWeek 500 ranking is unique among corporate rankings as it spotlights the power of innovation in information technology, rather than simply identifying the biggest IT spenders.

About the Premier healthcare alliance, Malcolm Baldrige National Quality Award recipient

Premier is a performance improvement alliance of more than 2,600 U.S. hospitals and 88,000-plus other sites using the power of collaboration and technology to lead the transformation to coordinated, high-quality, cost-effective care. Owned by hospitals, health systems and other providers, Premier operates a leading healthcare purchasing network with more than $4 billion in annual savings. Premier also maintains the nation's largest clinical, financial and outcomes database with information on 1 in 4 patient discharges. A world leader in delivering measurable improvements in care, Premier works with the Centers for Medicare & Medicaid Services. Headquartered in Charlotte, N.C., Premier also has an office in Washington. https://www.premierinc.com. Stay connected on Facebook, Twitter and YouTube.

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