Premier Inc. (NSDQ:PINC) said today 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 Charlotte, N.C.-based 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.
“We are excited to have the opportunity to continue working with a large group of hospitals to spread evidence-based healthcare improvements across the nation. Premier’s HEN will work to build on its accomplishments and achieve the goals of reducing preventable HACs and readmissions over the next year. These hospitals are committed to co-creating solutions that transform healthcare by transparently sharing data, outcomes and resources. We look forward to seeing the innovations they generate in the next round of this collaboration,” Premier performance partners senior veep Wes Champion said in prepared remarks.
During Premier’s participation in previous rounds the company said it contributed to the lowering of medical complications by 32% and 30-day readmission rates by 6%.
The contract began yesterday and runs until next year, the company said. Premier expects the contract will add $7 million in revenue for its 2016 fiscal results.