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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Premier Inc    PINC

PREMIER INC

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Progknowse Announces Partnerships with Three Health Systems: Premier Inc.

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08/14/2019 | 05:09pm EDT

2019 AUG 14 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Progknowse Inc., a precision medicine technology company seeking to produce predictive analytics with state-of-the-art algorithms using machine learning, has announced partnerships with three leading U.S. health systems. The three health systems include LifeBridge Health in Baltimore, Maryland, Riverside Health System in Newport News, Virginia, and St. Luke’s University Health Network in Bethlehem, Pennsylvania.

Together with Premier Inc., a leading healthcare improvement company, Progknowse is working with providers to develop and operationalize predictive algorithms for precise, actionable therapeutic recommendations to improve and personalize care delivery. Progknowse is developing a clinical and genomic data set using new predictive analytics capabilities that will support precision medicine and personalized care delivery, and be compatible with the PremierConnect® performance improvement platform.

“When we started Progknowse, our mission was to use precision medicine to improve patient outcomes,” said Marshall Ruffin, MD, Progknowse’s Founder and CEO. “Our partnership with Premier and these exemplary health systems enables clinician-driven data science collaboration that helps solve the problems of predictive accuracy and risk-adjustment crucial to improving the way care is delivered in precise and personalized ways.”

Progknowse partners with high-quality health systems interested in sharing a computing architecture for predictive analytics associated with precision medicine. This includes giving access to anonymized clinical and administrative data - in ways that completely protect the privacy of individuals - to data scientists, and machine learning technologies they use, to build predictive algorithms that accurately measure and predict patient outcomes based on thousands of individual predictors.

“These kinds of innovations and strategic partnerships enable us to enhance care for the patients and communities we serve,” said Daniel J. Durand, MD, Chief Innovation Officer and Vice President of Research at LifeBridge Health. “Collaborating with Progknowse will give us access to advanced capabilities such as predictive analytics and artificial intelligence, which will in turn help ensure all patients receive care that is uniquely tailored to their biology, personal need and preferences.”

“We are thrilled to be partnering with Progknowse,” said Charles Frazier, MD, CMIO of Riverside Health System. “We enjoy working with other like-minded regional health systems to build a platform for precision medicine that is both innovative and affordable. By applying these predictive algorithms to our health data, we hope to accurately predict patients’ outcomes of a specific treatment to help patients, their families and their clinicians select best treatments for them.”

“Everyone at St. Luke’s is excited to collaborate with Progknowse,” added Aldo Carmona, MD, Senior Vice President, Clinical Integration for St. Luke’s University Health Network. “We recognize the unique opportunity to combine the power of the Premier platform and its large database with predictive machine learning models from Progknowse to facilitate precision medicine for our patients. Collaborative projects like this are critical to taking advantage of our expanding data and bringing efficient, cost-effective care to our patients.”

Progknowse leverages the PremierConnect platform to access national data sets that include de-identified clinical outcomes data on approximately 45 percent of all U.S. patient discharges. Progknowse accesses these data within a secure development space, which is used by data scientists to create predictive algorithms that advance and personalize treatment based on specific clinical, including genetic, information.

“We are very proud of our partnership with Progknowse,” said Leigh Anderson, President of Performance Services at Premier. “The Progknowse integration with PremierConnect has been seamless and the potential impact on patient care is limitless. Progknowse and Premier, working closely with our member health systems, has created a technical platform for precision medicine that will help clinicians provide more precise, accurate and safe medical care.” About Progknowse, Inc. Based in Tysons, Va., Progknowse, Inc. is an early stage precision medicine technology company producing predictive analytics with state-of-the-art algorithms using machine learning for a facilitated network of health care systems. About Premier Inc.Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of more than 4,000 U.S. hospitals and health systems and approximately 165,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost. Premier plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier’s news and investor sites on www.premierinc.com; as well Twitter, Facebook, LinkedIn, YouTube, Instagram and Premier’s Blog for more information about the company. View source version on businesswire.com: https://www.businesswire.com/news/home/20190801005058/en/

(Our reports deliver fact-based news of research and discoveries from around the world.)

Copyright © 2019 NewsRx LLC, Insurance Daily News, source Business Newsletters

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Sales 2019 1 584 M
EBIT 2019 388 M
Net income 2019 114 M
Finance 2019 117 M
Yield 2019 -
P/E ratio 2019 21,5x
P/E ratio 2020 25,8x
EV / Sales2019 1,47x
EV / Sales2020 1,64x
Capitalization 2 445 M
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