Company: Premier Inc.
Company Description: Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of more than 4,400 U.S. hospitals and health systems and approximately 250,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost.
Nomination Category: New Product & Service Categories - Business Technology
Nomination Sub Category: Healthcare Technology Solution
 Nomination Title: Premier Inc.'s PINC AI™
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
On August 9, 2021, Premier Inc. rebranded its comprehensive technology and services platform as PINC AI™. PINC AI™ leverages data and analytics and AI-enabled technology to deliver evidence-based insights and support quality improvements, while reducing costs.
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
With 20+ years of data from one billion+ inpatient and outpatient encounters, the PINC AITM’s data is unmatched. PINC AI™ provides actionable intelligence to advance research, improve outcomes, support improved financial performance and drive success in alternative payment models based on data from 45% of U.S. hospital discharges, 812 million hospital outpatient and clinic encounters and 131 million office visits.
PINC AI™ provides:
- Real-time clinical surveillance, AI-enabled clinical decision support, performance improvement consulting and collaboratives to improve quality, safety and outcomes
- Analytics, workforce management, integrated financial reporting, enterprise resource planning and consulting services to help lower costs and improve margins
- Forecasting and predictive analytics to help mitigate risk
- Data, machine learning and predictive modeling to indicate a clinical staff shortage within the next eight weeks and provides an early warning
- Benchmarking, physician enterprise technologies, consulting and collaboratives for care model implementation and success in value-based arrangements
- Research capabilities to help accelerate regulatory reviews and commercialization of therapies for life sciences companies
The PINC AI clinical natural language processing engine can recognize trends and understand clinician's free-text notes in real-time to help deploy evidence-based guidance at the point of care. PINC AI™ Clinical Intelligence has provided 5.4 billion+ CDS alerts to help physicians determine the best treatment. For example, Community Health Network (CHN) turned to PINC AI™ Stanson for HCC guidance enabling them to provide more accurate coding. As a result, CHN was able to obtain a positive financial impact of nearly $13 million with actionable HCC alerts.
PINC AI data fuels research by the PINC AI™ Applied Sciences (PAS) team, CDC, FDA, NIH, life sciences companies and academia. In fact, the PINC AI™ Healthcare Database coalesces 1,188+ health systems to provide data for evidence- and population-based analyses. This data helped uncover disparities in COVID-19 and maternal and infant health outcomes and is essential in generating real-world evidence to support advanced therapies.
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Healthcare organizations utilize PINC AI™ to further strategic objectives and bring value to staff, patients and communities. Recent highlights include:
- The PINC AI™ platform documented $1.5 billion in validated savings, with 55% of customers seeing a ROI of 5:1 or more.
- Members of the PINC AI™Population Health Management Collaborative utilize PINC AI™ solutions to save $166B, outperforming peers.
- Premier, the U.S. Department of Health and Human Services Office on Women’s Health and 220+ hospitals leverage PINC AI™ to assess the role that health equity and social determinants have on maternal and infant outcomes, finding that Black women are 77% more likely than whites to experience an adverse outcome.
- Health systems, community organizations and patients are collaborating to co-design solutions that will advance health equity through the PINC AI™ Health Equity Collaborative, extending member opportunities to address inequities.
- PINC AI™ Stanson partnered with Grail to embed clinical decision support cues in the workflow to screen certain patients for 50 cancers, helping to save lives, improve quality and reduce costs.
- PAS is identifying patients with idiopathic pulmonary nodules to flag for intervention before disease progresses – with roughly 200,000 patients “caught” earlier. In another effort, PAS worked with GE and St. Luke’s University Health Network to introduce a patient-centric care model for breast cancer diagnosis – cutting diagnostic imaging to pathology results from 8.5 business days to less than 2.
- PINC AI™ solutions help address supply chain shortages, deliver critical drugs and provide visibility into hospital inventories, enabling members and the public sector to see availability and gaps in resources.
- PINC AI™ offerings grew nearly 30% last year, exceeding expectations.
- Premier’s ability to deliver meaningful solutions and differentiated value are reflected in the results of its annual C-suite satisfaction survey, with more than 90% of health system executives viewing Premier as a strategic partner or extension of their organization.
- Similarly, Premier achieved an all-time high net promoter score – on par with Fortune 500 companies. [REDACTED FOR PUBLICATION]
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
The PINC AI™ team takes great pride in receiving significant recognitions for quality work and leadership. Recent achievements include:
- 2021 NC TECH Awards Winner: Innovative Use of Technology, Analytics and Big Data
- PINC AI Applied Sciences team was a 2022 BWB Awards Winner: Digital Medicine
- Top 25 Women Leaders in Biotechnology of 2022 – Denise Juliano
- The CEO Forum Magazine (Healthcare Technology) – Michael J. Alkire
- Fast Company World Changing Ideas, AI and Data, 2021 Honorable Mention
- Top 50 Women Leaders in Healthcare – Women We Admire – Denise Juliano
- 40 Under 40 in Cancer Award – Erika Klump, PAS Team
There are also a number of resources that provide color on PINC AI™ its and capabilities:
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