Inflow Health’s software aggregates financial and operational data from physicians in medical groups to “perform precise calculations that pinpoint exactly where improvements can be made,” Premier said.
“Given today’s public policy environment, providers have a real need for solutions that can help them better manage the complex world of physician practice economics. InflowHealth’s solution gives physicians unique insights into their financial, operational and strategic performance, allowing them to identify opportunities for improvement and guide practice budgeting and strategic investments. These are central capabilities for managing any successful practice, only growing in importance as physicians start to explore clinically integrated networks and alternative payment models, such as bundled payment and shared savings,” Premier senior veep Wes Champion said in prepared remarks.
Premier said Inflow Health and its employees will become part of Premier’s performance service business.
Charlotte, N.C.-based Premier said it didn’t expect the acquisition to have an impact on its fiscal 2016 results.
“We’ve used our years of industry experience to design data-driven tools that effectively capture the extreme nuances of operating physician practices, at the specialty level. These solutions provide a level of depth, transparency and accountability that physicians have not had in the past,” InflowHealth prez David Olson said in a press release.
Last week, Premier said it won a $9.3 million contract from the Centers for Medicare & Medicaid Services to take part in the 2nd round of the Hospital Engagement Networks in the Partnership for Patients initiative.
The goal of the program is reducing preventable readmissions to hospitals by 20% and reducing hospital-acquired conditions by 40%, the company said. The program is part of a larger overall framework established by the Affordable Care Act to refine healthcare services to provide better care and lower costs.