Premier acquires healthcare technology firm IllumiCare
Premier has expanded its clinical decision support (CDS) capabilities with the acquisition of healthcare technology company IllumiCare, known for its electronic medical record (EMR)-agnostic platform.
This platform integrates clinical and financial data to aid providers in making cost-effective clinical decisions.
The financial details of the transaction have not been disclosed.
IllumiCare is based in the US and helps improve clinical decisions by providing real-time data on treatment expenses.
Its flagship product identifies inpatient medication and diagnostic use that may not benefit patients, based on medical standards, and reveals the actual supply costs to the ordering provider.
This approach encourages interventions in formulary and order sets and delivers targeted 'nudges' to clinicians at the point of care.
Premier Performance Services president David Zito said: “IllumiCare’s real-time cost attribution capabilities will be a game changer, differentiating Premier in a competitive CDS market with a smarter, more robust CDS solution.
“Together, we can help create financial efficiencies for virtually any provider, in any clinical setting, while helping them deliver care that is better and safer for patients.”
The acquisition is set to enhance Premier's existing CDS technology, further enabling health systems and clinically integrated networks to reduce care gaps, enhance coding accuracy, optimise clinical trial recruitment, support outpatient risk capture, and succeed using value-based payment models.
Starting this summer, Premier plans to market the acquired solution under its Stanson Health brand.
IllumiCare CEO G T LaBorde said: “We want providers focused on the patient while technology works behind the scenes to point out the ancillary effects of choices when they are directly relevant. Our combined solution will offer providers a more robust, turnkey solution, with a demonstrated return on investment of up to ten to one.”
"Premier acquires healthcare technology firm IllumiCare" was originally created and published by Hospital Management, a GlobalData owned brand.
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