Premier Inc. recently acquired Medpricer, a software-as-a-service (SaaS) provider of technology solutions that enable hospitals and other organizations to analyze, benchmark and source purchased services contracts independent of any existing GPO affiliation.
Medpricer’s spend management platform uses machine learning to validate, compare and onboard purchased services suppliers; track and measure spend by category, supplier and facility; benchmark contracts terms to ensure competitive rates; set and manage specific savings targets; and manage contract compliance.
Medpricer operates on a vendor-paid model. Medpricer combines analytics with sourcing solutions and tracking success in a systematic scalable manner. Medpricer’s services cover the full range of Purchased Services’ needs, including:
- Procurement Spend Analytics & Compliance
In addition to Purchased Services, Medpricer also offers solutions specifically for healthcare purchasing in:
- Capital Equipment
- Construction & Renovation Projects
Together with its subsidiaries and affiliates, Premier is a leading healthcare improvement company, uniting an alliance of more than 4,000 U.S. hospitals and health systems and approximately 175,000 other providers and organizations to transform healthcare.
Premier conducts business with approximately 83% of the nation’s community hospitals, managing approximately $60 billion in supply chain spend and maintaining clinical, financial and outcomes data on more than 45% of U.S. hospital discharges. Premier is controlled by 167 U.S. hospitals, health systems and other healthcare organizations, which represented approximately 1,400 owned, leased and managed acute care facilities and other non-acute care organizations.
With integrated data and analytics, collaboratives, supply chain solutions, and advisory and other services, Premier enables better care and outcomes at a lower cost. Premier delivers value through a comprehensive technology-enabled platform that offers critical supply chain services, clinical, financial, operational and population health software-as-a-service (“SaaS”) informatics products, advisory services and performance improvement collaborative programs.
Premier’s business model and solutions are designed to provide members with access to scale efficiencies, spread the cost of their development, derive intelligence from anonymized data provided by members in its data warehouse, mitigate the risk of innovation and disseminate best practices that will help member organizations succeed in their transformation to higher quality and more cost-effective healthcare.
Premier, evolving with the market, has evolved from a group purchasing and benchmarking organization, cooperatively owned by its member-owner healthcare providers, into a mission critical partner, offering clinical, operational and administrative solutions in managing over $60 billion in supply chain spend.
The transformation of Premier has been driven by its member owners’ critical need to harness the collective power in solving their most pressing cost, quality and safety issues as they continue their evolution to value-based care.
Medpricer complements Premier’s existing services by offering a scalable technology platform and data-driven evidence designed to help users gain control over purchased services spend, regardless of GPO affiliation.