Premier Inc. is significantly expanding its data analytics capabilities by acquiring Healthcare Insights LLC for $65 million.
The deal is the latest analytics buy for Premier, which in recent days also bought CECity, which offers physicians software platforms supporting performance analytics and support for performance measurement and improvement, care coordination, quality reporting programs, continuing medical education, back office functions, maintenance of certifications and registry reporting.
Healthcare Insights has more than 7,500 users of its technology across 200 facilities that are associated with 94 delivery systems—49 of which don’t currently have a relationship with Premier, so that opens significant business opportunities.
Premier, which operates a large data warehouse that members contribute to, conducts analytics on behalf of its members as an outsource service, taking data, cleaning it, benchmarking and delivering back results, says Keith Figlioli, senior vice president of health informatics.
Premier’s latest acquisition also follows other recent notable buys from other health information technology companies. These include Emdeon picking up Altegra Health for $910 million, IBM buying Merge Healthcare for $1 billion, and Health Catalyst acquiring Health Care DataWorks for an undisclosed sum.
Also See: Why IBM Wants to Buy Merge Healthcare
Premier’s enterprise warehouse and analytics platform support cost, quality, labor and enterprise resource planning analytics, among other services. Now the company picks up Healthcare Insights’ budgeting analytics ranked as the best over four years by vendor research firm KLAS Enterprises, as well as service line analytics, such as clinical financial management, operations and productivity analysis.
Service line analytics enable assessment of the true cost of a service, such as understanding whether cardiology services across an enterprise are profitable, Figlioli says. Healthcare Insights also offers labor analytics that Premier will fold into its own labor analytics line.
This article courtesy of Information Management's sister brand, HealthData Management.
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