University of Louisville Hospital Partners with Premier Inc. to Drive High-Value Care
CHARLOTTE, N.C. (Jan. 8, 2018) — The University of Louisville Hospital (UofL Hospital), an academic teaching and research hospital, has partnered with Premier Inc. (NASDAQ: PINC), a leading healthcare improvement company, to drive high-value care delivery using Premier’s customized bundle of enterprise-wide performance improvement and supply chain services and analytics offerings.
The only Level 1 trauma center in the region, UofL Hospital includes the UofL Brown Cancer Center, with teams specializing in treating cancers of the central nervous system and a nationally accredited stroke center. UofL Hospital’s multi-year agreement with Premier includes access to Premier’s group purchasing services, as well as robust clinical and financial outcomes data and analytics from the PremierConnect® performance improvement platform. These analytics also complement UofL Hospital’s access to Premier’s clinical surveillance solution, powered by TheraDoc®, which it has used since 2008.
“The healthcare environment is ever-evolving, which is why we continue to remain focused on our mission of providing high-value care.” said Chris Graff, chief financial officer of UofL Hospital. “Premier’s extensive knowledge and next-generation analytics, as well as this unique opportunity to partner with other academic health systems, will help us build the skills and capabilities needed to succeed in today’s value-based payment world.”
Leveraging Premier’s comprehensive performance improvement and supply chain services, UofL Hospital will be able to safely drive reductions in the cost of care, examine care delivery utilization and variation patterns, compare outcomes against peers, understand and optimize performance under value-based purchasing, and prioritize areas for next generation performance improvement.
“Academic health systems are tasked with the unique purpose to provide exceptional care to their communities, while educating healthcare professionals and leading innovation,” says Andy Ziskind, MD, senior vice president of academic health system strategy at Premier. “The University of Louisville Hospital is a pillar in the community and we look forward to supporting their mission of improving health through research, education, clinical care and community service.”
The financial terms of the enterprise-wide agreement were not disclosed. The partnership is not expected to materially impact Premier’s fiscal 2018 financial results.
About University of Louisville Hospital
UofL Hospital, an academic teaching and research hospital, is at the heart of the Louisville Metro area in downtown Louisville. UofL Hospital offers a second-to-none cancer center, world-renowned trauma team and a uniquely streamlined, nationally accredited stroke center – the latest innovations in a history of world-class care. For more information visit https://uoflhospital.org/.
Forward-looking statements
Matters discussed in this release that are not statements of historical or current facts, such as UofL Hospital’s anticipated use of Premier’s performance and supply chain services at expected levels, as discussed herein, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as “believes,” “belief,” “expects,” “estimates,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. Forward-looking statements may include comments as to Premier’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Premier’s control. More information on potential factors that could affect Premier’s financial results is included from time to time in the “Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Premier’s periodic and current filings with the SEC and available on Premier’s website at investors.premierinc.com. Forward-looking statements speak only as of the date they are made. Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date.