Premier Inc - Company Profile
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Business Description
Premier Inc. (Premier) is a healthcare improvement company that is an alliance of several hospitals and other providers in the US. The company offers an integrated platform of solutions that addresses total cost management, quality and safety improvement and population health management.
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R&D Overview
Premier's R&D initiatives primarily focus on investment in internally-developed software to create new and enhance existing SaaS- and license-based product offerings. The company is also involved in new product development in areas such as cost management, quality and safety, and value-based care. The R&D expenditures may fluctuate due to the timing of software development life cycles, which include new product features, functionality, new technologies, and service upgrades. Additionally, the company ensures compliance with HIPAA standards to avoid potential risks and penalties. In FY2025, the company incurred research and development expenses of US$2.6 million.
Business Segments
Overview
It develops an integrated platform called PINC AI technology platform which delivers accurate and evidence-based results that are integrated with most EMR systems, which means customers can improve their quality of care and slash their healthcare costs faster than ever before. –Its Contigo Health provides third-party administrator services and management of health benefit programmes that allow employers to contract directly with healthcare providers. Employers can also access a specialised care network through Contigo Health's centres of excellence programme. - The company's digital invoicing and payables division, Remitra, provides financial support services to healthcare product and service suppliers.
Performance
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Overview
It includes Premier’s group purchasing organisation program (GPO), speciality pharmacy offerings, and direct sourcing activities. The segment assists the company’s members in managing their non-labour expense categories through a combination of products, services and technologies. - It also provides members access to certain SaaS informatics products related to the supply chain and the opportunity to participate in its ASCEND and SURPASS collaborative. - Key products and solutions include group purchasing, speciality pharmacy, direct sourcing, SaaS informatics products and ASCEND collaborative. - It also offers speciality pharmacy business and provides traditional pharmacy dispensing services. - Premier also provides its members access to PremierConnect Supply Chain and its associated applications. Through its ASCEND Collaborative, members receive information about group purchasing programs, tiers and prices, and benchmarking metrics to assist them in identifying additional supply chain and operations cost-saving opportunities and knowledge sharing with other member participants and industry experts. - Its SURPASS Collaborative has been built upon and complements the existing ASCEND Collaborative, which enables even greater savings for members. It brings clinically led cohorts together to make decisions based on evidence about clinician and physician preference items with the goal of reducing the total cost of care materially.
Performance
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