Premier, Inc. Acquires EMR-Agnostic Platform IllumiCare

What You Ought to Know: 

– Premier, a Technology-driven healthcare efficiency enchancment firm introduced its acquisition of IllumiCare, a healthcare Technology agency famend for its EMR-agnostic platform. This strategic transfer considerably expands Premier’s capabilities within the medical resolution assist (CDS) house by integrating IllumiCare’s real-time medical and monetary information on the level of care.

– The acquisition goals to empower suppliers to make optimum medical choices whereas concurrently managing prices, finally lowering hospital stays, easing administrative burdens, and bettering affected person outcomes. Monetary phrases of the transaction weren’t disclosed.

Enhancing Scientific Determination Help with Monetary Visibility

IllumiCare, headquartered in Birmingham, AL, has constructed a powerful status for enabling higher medical choices by offering real-time information on remedy prices on to suppliers. Its flagship product identifies inpatient remedy and diagnostic use that’s unlikely to supply medical profit based mostly on established medical requirements. Crucially, IT attributes the precise provide value to the ordering supplier, making actual prices clear on the level of care. This distinctive method facilitates upstream interventions in formulary and order units and delivers extremely focused “nudges” to clinicians.

“Hospitals are battling rising prices and shrinking margins,” mentioned David Zito, Premier’s President of Efficiency Companies. He added, “IllumiCare’s real-time value attribution capabilities might be a sport changer, differentiating Premier in a aggressive CDS market with a wiser, extra sturdy CDS answer. Collectively, we may help create monetary efficiencies for just about any supplier, in any medical setting, whereas serving to them ship care that’s higher and safer for sufferers”.

Affect Throughout the Care Continuum

The IllumiCare platform is already utilized by over 82,000 suppliers, together with impartial physicians and ambulatory networks, and is appropriate with greater than 50 EMR techniques throughout the care continuum. This broad compatibility considerably extends Premier’s present CDS Technology, permitting the mixed entity to assist Health techniques and clinically built-in networks:

• Shut care gaps
• Enhance coding accuracy
• Help outpatient danger seize
• Optimize medical trial recruitment
• Achieve value-based cost fashions 

Put up-Acquisition Plans

The mixed answer is anticipated to supply suppliers a extra sturdy, turnkey answer with a demonstrated return on funding of as much as 10 to 1. Premier plans to start advertising the acquired answer below its Stanson Health model this summer season. The newly mixed capabilities might be formally debuted at Premier’s annual Breakthroughs Convention and Exhibition, scheduled for July 15-17 in Nationwide Harbor, MD.