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PREMIER INC (PINC)
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Premier Inc. : Announces Inaugural Members in SURPASSTM

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07/12/2018 | 11:52pm CEST

By a News Reporter-Staff News Editor at Information Technology Newsweekly -- Premier Inc. (NASDAQ: PINC), a leading healthcare improvement company, has announced 11 health systems to serve as core members of its SURPASSTM highly committed purchasing program (Synergizing for Unparalleled Results in Procurement and Strategic Sourcing).

SURPASS is a unique collaboration for Premier® member health systems, designed to drive compliance and scale for the purchasing of clinically efficacious products across their systems in order to achieve best-in-market pricing. The 11 core health system members represent $8.4 billion in annual supply chain purchasing, with more than 30,000 acute care beds across 24 states and two U.S. territories.

"To achieve the next level of cost transformation within the supply chain, hospitals and health systems are leaving no stone unturned," said David Hargraves, Senior Vice President of Supply Chain at Premier. "Coupled with a focus on standardization and costs, what differentiates this program from others is that we are approaching discussions with suppliers with a very specific and detailed focus on clinical effectiveness - ensuring the foundation of all purchasing will be centered on supplies and products that demonstrate a difference in boosting outcomes and delivering value."

The SURPASS model seeks suppliers that compete to offer the absolute best price possible, linking them with participating members that commit to scaling purchasing to these high-value, high-commitment contracts. This member-led group will help to drive evidence-based supply chain decision-making, including being active participants in negotiations, clinically vetting the products and supplies, and determining which suppliers are awarded contracts.

"We're excited to be included in this core group of health systems that are actively pursuing smarter healthcare supply chain strategies, helping us secure optimal pricing on products that deliver the most value in terms of improved patient outcomes," said Shaun Clinton, CMRP, Senior Vice President of Supply Chain Management at Texas Health Resources. "Extending our intelligent product decisions into a new, highly committed program - based not just on acquisition cost, but also on total cost of care - help us redeploy funds to invest in the care and the talent we need to meet consumer demands."

Keywords for this news article include: Business, Premier Inc.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2018, NewsRx LLC

(c) 2018 NewsRx LLC, source Technology Newsletters

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Financials ($)
Sales 2018 1 639 M
EBIT 2018 464 M
Net income 2018 349 M
Debt 2018 -
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019 20,17
EV / Sales 2018 3,03x
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Average target price 38,2 $
Spread / Average Target 2,2%
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NameTitle
Susan D. DeVore President, Chief Executive Officer & Director
Richard J. Statuto Chairman
Michael J. Alkire Chief Operating Officer
Craig S. McKasson CFO, Principal Accounting Officer & Senior VP
Leigh Anderson Chief Information Officer & Senior Vice President
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