Premier, Inc. Insurance Program Continues Success: Hospitals to Receive $8.1 Million in Annual Profit Sharing
Charlotte, N.C. – October 10, 2023 – Premier Insurance Management Services, a subsidiary of Premier, Inc., (NASDAQ: PINC), a leading technology-enabled healthcare improvement company, is pleased to announce the annual profit-sharing distribution of $8.1 million to be shared among 70 hospitals and health systems participating in its excess workers’ compensation program. This significant distribution underlines the dedication of Premier Insurance, in collaboration with partner Safety National Casualty Corporation (SN), to prioritize employee safety and risk mitigation.
This year's profit-sharing distribution is a testament to the collective efforts of participating hospitals and health systems. The commitment to proactively manage losses and enhance safety protocols has enabled Premier Insurance to extend profit-sharing benefits once again to all renewing policyholders. The cumulative distribution since the program's inception 23 years ago now surpasses $45.0 million.
"While the monetary aspect of this year's profit sharing is substantial, its true significance lies in the longstanding dedication to employee safety and risk control demonstrated by both our member institutions and our exceptional partner, Safety National," said Joelle Hren, President of Premier Insurance Management Services. “I am always humbled by the collective team effort to go above and beyond for our members, helping to make this profit sharing possible.”
Safety National, an industry leader in specialized insurance and reinsurance solutions, boasts an A++ FSC XV rating from A.M. Best. The collaboration between Premier Insurance and Safety National capitalizes on the synergies of their expertise, combining exclusive coverage features with comprehensive risk management solutions that prioritize safety and customer satisfaction.
The partnership's foundation was established more than two decades ago, and it continues to thrive by providing excess workers’ compensation insurance to hospitals and health systems. Active and qualifying policyholders in the program with Premier Insurance Management Services can receive a share of the policy year profits based on the program's consistently favorable experience.
About Premier, Inc.
Premier, Inc. (NASDAQ: PINC) is a leading technology-driven healthcare improvement company, providing solutions to two-thirds of all healthcare providers in the U.S. Playing a critical role in the rapidly evolving healthcare industry, Premier unites providers, suppliers, payers and policymakers to make healthcare better with national scale, smarter with actionable intelligence and faster with novel technologies. Headquartered in Charlotte, N.C., Premier offers integrated data and analytics, collaboratives, supply chain solutions, consulting and other services in service of our mission to improve the health of communities. Please visit Premier’s news and investor sites on www.premierinc.com; as well as X, Facebook, LinkedIn, YouTube, Instagram and Premier’s blog for more information about the company.