PINC AI™ and Fortune Name the Nation’s 50 Top Cardiovascular Hospitals™
PINC AI™, the technology and services brand of Premier, Inc., announced the nation’s 50 Top Cardiovascular Hospitals™. The program identified hospitals with better outcomes, lower costs, and higher efficiency compared to peers, potentially saving lives and costs. The study's analysis revealed significant improvements in survival rates, complications, readmission rates, and costs per patient case. If all hospitals performed at this level, thousands of deaths could be prevented, complications reduced, and billions saved in inpatient costs.
The announcement of the 50 Top Cardiovascular Hospitals by PINC AI™ has significant implications for healthcare policy and hospital administration. The recognition of these hospitals is based on a comprehensive analysis of performance metrics, such as mortality rates, readmission rates, complication rates, length of stay and cost per case. These metrics are crucial for policymakers and hospital administrators as they reflect the quality and efficiency of care provided to patients with cardiovascular conditions.
From a policy perspective, the list serves as a benchmark for setting national standards in cardiovascular care. Hospitals striving for inclusion on this list may adopt best practices from top performers, potentially leading to system-wide improvements in patient outcomes and cost savings. The estimated impact, if all hospitals reached the performance levels of the top 50, suggests a significant reduction in deaths and complications, as well as substantial cost savings, which could influence future healthcare policies and funding allocations.
Moreover, the data-driven nature of the rankings highlights the importance of transparency and accountability in healthcare. It encourages hospitals to invest in data analytics and quality improvement initiatives, which can lead to better resource allocation and operational efficiencies. This, in turn, could result in improved patient satisfaction scores, further enhancing a hospital's reputation and competitive standing in the healthcare market.
The financial implications of the 50 Top Cardiovascular Hospitals list for the healthcare industry are multifaceted. The analysis showcases a direct correlation between high-quality care and lower costs, which is a critical insight for healthcare financial management. For instance, the top hospitals demonstrated up to nearly $10,000 less in total costs per patient case for certain procedures. This cost efficiency can be a major competitive advantage and could potentially influence stock valuations and investor confidence in publicly traded healthcare entities.
For investors and financial analysts, the operational efficiencies and cost savings reported by the top hospitals could indicate strong management and operational excellence. These factors are often considered when evaluating the financial health and long-term viability of healthcare providers. Additionally, the ability to deliver high-quality care at lower costs may position these hospitals favorably for negotiations with insurance companies and government payers, potentially leading to more favorable reimbursement rates and contracts.
It's also important to consider the potential for increased market share for the recognized hospitals, as patients and referring physicians may prefer institutions known for superior outcomes and patient experiences. This could lead to increased revenue streams and a stronger financial position for these hospitals, which is an important consideration for stakeholders and investors alike.
The clinical implications of the study are profound, particularly in the field of cardiovascular care. The analysis suggests that the top hospitals have significantly better patient outcomes, such as 28 percent fewer acute myocardial infarction deaths and 50 percent fewer coronary artery bypass grafting deaths. These statistics are not just numbers; they represent lives saved and improved quality of care for patients suffering from heart conditions.
From a research perspective, the methodologies employed in the study, including risk-adjusted mortality and complication rates, offer a robust framework for evaluating hospital performance. These measures account for the variability in patient populations and the complexity of cases, providing a more accurate reflection of a hospital's clinical capabilities. The emphasis on 30-day mortality and readmission rates aligns with current research highlighting the importance of post-discharge care and its impact on long-term patient outcomes.
Understanding the factors that contribute to the success of top-performing hospitals can guide future clinical research and innovation. Research efforts may focus on the interventions, care pathways and technologies utilized by these hospitals to achieve superior outcomes. Disseminating these best practices across the broader healthcare system can lead to widespread improvements in patient care and potentially inspire new clinical trials and research initiatives targeting cardiovascular diseases.
02/15/2024 - 09:10 AM
CHARLOTTE, N.C. --(BUSINESS WIRE)--
PINC AI™ , the technology and services brand of Premier, Inc. (NASDAQ: PINC), today announced the nation’s 50 Top Cardiovascular Hospitals™ . The full list of recognized hospitals was published in an exclusive online article by Fortune .
To create the list, an objective, quantitative analysis of publicly available data was conducted to identify the top cardiovascular hospitals in the United States . The primary purpose of the PINC AI™ 50 Top Cardiovascular Hospitals™ program is to inspire hospital and health system leaders to pursue higher performance and deliver added value to patients and communities. Organizations do not apply to participate in the study, and award winners do not pay to market their honor.
The Performance of Facilities on the PINC AI ™ 50 Top Cardiovascular Hospitals ™ Program List
This year, based on comparisons between the study’s top performers and a peer group of similar hospitals, the analysis found that the 50 Top Cardiovascular Hospitals™ delivered better outcomes while operating more efficiently and at a lower cost. Compared to their peers, this year’s top performers had:
28 percent fewer acute myocardial infarction (AMI) deaths and 50 percent fewer coronary artery bypass grafting (CABG) deaths.
32 percent fewer percutaneous coronary interventions (PCI) and 38 percent fewer CABG patients with complications. Higher 30-day survival rates for acute myocardial infarction (AMI), heart failure (HF) and CABG patients (0.3 to 0.7 percentage points higher).
Lower 30-day readmission rates for AMI, HF and CABG patients (0.4 to 0.8 percentage points lower).
Shorter average lengths of stay between patient groups – 0.3 for AMI, 0.6 for HF, 0.3 for PCI and one full day for CABG.
$2,503 $9,931
Patients had a better experience at top performing hospitals compared to the remaining peer hospitals, with a top-box Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) score of 71 percent versus 67 percent.
Compared to peer hospitals, those in the 50 Top Cardiovascular Hospitals™ operated at lower cost and had better outcomes, recording significantly higher inpatient survival rates, fewer patients with complications, lower readmission rates and up to nearly $10,000
These outcomes add up to meaningful differences. According to the study’s analysis, if all hospitals operated at the level of this year’s top performers, there could be 7,600 fewer deaths due to heart disease, 6,700 fewer bypass and angioplasty patients who suffer complications, and more than $1 billion
This analysis is based on Medicare patients included in this study. If the same standards were applied to all inpatients, the impact could have been even greater.
“Heart disease is one of America’s leading causes of death, resulting in nearly 695,000 deaths and $239 billion in added costs each year,” said Leigh Anderson, Premier’s Chief Operating Officer and leader of PINC AI™ . “As hospitals work to improve the quality and value of cardiovascular care, unbiased and objective data is vital to enhance patient care as well as financial and operational improvements. The PINC AI™ 50 Top Cardiovascular Hospitals™ program helps set performance standards for hospitals across the country, creating aspirational benchmarks for all to strive to achieve.”
Methodology for the Rankings
The PINC AI™ 50 Top Cardiovascular Hospitals™ program focuses on short-term, acute care, nonfederal U.S. hospitals that treat a broad spectrum of cardiology patients. It includes patients requiring medical management, as well as those who receive invasive or surgical procedures. Because multiple measures are used, a hospital must provide all forms of cardiovascular care, including open heart surgery, to be included in the study. Each patient group is mutually exclusive by design.
Eligible hospitals are ranked for performance across four measurement grouping areas.
HOSPITAL MEASURE DOMAINS:
Acute myocardial infarction (AMI) Performance
There are six AMI measures used in the scorecard. Measures include risk-adjusted inpatient mortality, 30-day mortality, 30-day readmissions, severity-adjusted length of stay, wage- and severity-adjusted average cost per case and 30-day episode payment.
Heart failure (HF) Performance
There are six HF measures used in the scorecard. Measures include risk-adjusted inpatient mortality, 30-day mortality, 30-day readmissions, severity-adjusted length of stay, wage- and severity-adjusted average cost per case and 30-day episode payment.
Coronary artery bypass graft (CABG) Performance
There are six CABG measures used in the scorecard. Measures include risk-adjusted inpatient mortality, risk adjusted complications, 30-day mortality, 30-day readmissions, severity-adjusted length of stay, and wage- and severity-adjusted average cost per case.
Percutaneous coronary intervention (PCI) Performance
There are four PCI measures used in the scorecard. Measures include risk-adjusted inpatient mortality, risk-adjusted complications, severity-adjusted length of stay, and wage- and severity-adjusted average cost per case.
Final rank is determined based on performance for all individual measures. Hospitals are ranked within three separate peer groups: teaching hospitals with cardiovascular residency programs (20 top performing facilities), teaching hospitals without cardiovascular residency programs (20 top performing facilities) and community hospitals (10 top performing facilities).
About the PINC AI™ Platform
PINC AI ™ is the technology and services platform of Premier, Inc. (NASDAQ: PINC). With more than 20 years’ worth of cost, quality and operational data gleaned from 45 percent of U.S. hospital discharges, 2.7 billion hospital outpatient and clinic encounters and 177 million physician office visits, the PINC AI™ platform provides actionable intelligence to help improve outcomes, support improved financial performance and enable success in new, alternative payment models. PINC AI™ incorporates the 100 Top Hospitals ® Program that inspires hospital and health system leaders to pursue higher performance and deliver added value to their patients and communities. PINC AI™ offerings rely on advanced analytics to identify improvement opportunities; support award-winning Strategic Collaboratives for value-based care, maternal and infant health, workforce innovation, and health equity; and consulting services for clinical and operational design, and workflow solutions to hardwire sustainable change. The PINC AI™ platform is also the data engine powering Premier’s newest brands – Remitra® and Contigo Health® . With a leading network of provider organizations, the PINC AI™ platform accelerates ingenuity and serves as a large-scale innovation catalyst in healthcare. PINC AI™ offerings and capabilities can be followed on Twitter and LinkedIn .
Premier, Inc. Forward-Looking Statements
Statements made in this release that are not statements of historical or current facts, including but not limited to those related to Premier’s ability to advance its long-term strategies and develop innovations for and transform healthcare, and the intended or expected performance or utility of Premier’s and PINC AI’s products and services, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties, and other factors that may cause performance or achievements to be materially different from historical results or from any future performance or achievements expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. More information on risk factors relating to Premier and its products and services is included from time to time in the “Cautionary Note Regarding Forward-Looking Statements,” “Risk Factors,” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Premier’s periodic filings with the SEC, which are also made available on Premier’s website at investors.premierinc.com. Forward-looking statements speak only as of the date they are made, and Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events that occur after that date, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240215048997/en/
Jennifer Gammage
public_relations@premierinc.com
Source: Premier, Inc.
What is the significance of the PINC AI™ 50 Top Cardiovascular Hospitals™ program?
The program identifies top hospitals with better outcomes, lower costs, and higher efficiency compared to peers, potentially saving lives and costs.
What were some key findings of the analysis on the top cardiovascular hospitals?
The top hospitals had fewer AMI and CABG deaths, fewer complications, higher survival rates, and lower readmission rates.
How much less in total costs per patient case did the top performers have compared to peers?
The top performers had $2,503 to $9,931 less in total costs per patient case compared to their peers.
What could be the potential impact if all hospitals operated at the level of this year's top performers?
If all hospitals operated at the same level, there could be 7,600 fewer deaths due to heart disease, reduced complications, and over $1 billion in inpatient costs saved.
What did Leigh Anderson, Premier's COO, emphasize regarding the importance of unbiased and objective data?
Leigh Anderson highlighted that unbiased and objective data is crucial for improving patient care, financial, and operational aspects in cardiovascular care.
