3M and Premier Sign Strategic Agreement to Provide Product Solutions for Improving Clinical Performance.Business Editors/Health/Medical Writers SALT LAKE CITY--(BUSINESS WIRE)--Feb. 25, 2003 3M Health Information Systems Division and Premier Inc. today announced a strategic agreement to market 3M's DRG DRG, n the abbreviation for diagnosis-related group. DRG see dorsal respiratory group. DRG Diagnosis-related group Managed care A unit of classifying Pts by diagnosis, average length of hospital stay, and Assurance consulting, assessment and documentation improvement services in conjunction with Premier's Perspective Online, the healthcare industry's most comprehensive and scalable comparative provider performance database. These product solutions for improving clinical performance will be offered to Premier's nationwide alliance of more than 1,500 hospitals and health systems, and to 3M's extensive U.S. customer base for its coding and classification software products. By offering comprehensive patient-level data for care planning, quality measurement and physician profiling physician profiling Managed care A method of cost containment that focuses on the patterns of health care provided by a single physician or group, instead of on specific clinical decisions; the resulting profile is then compared to other norms based on , along with education and processes designed to improve the accuracy of coded data, Premier and 3M will provide customers with actionable Giving sufficient legal grounds for a lawsuit; giving rise to a Cause of Action. An act, event, or occurrence is said to be actionable when there are legal grounds for basing a lawsuit on it. information that can be used to better manage resource consumption, reduce costs, ensure appropriate reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. and improve provider outcomes. "Healthcare providers, payers, regulatory agencies regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. and consumers are demanding accurate and reliable data to measure and manage clinical performance," says Bruce Eklund, director, Services Market for 3M Health Information Systems. "The depth and breadth of Premier's comparative database, combined with 3M's recognized expertise in coding and classification, gives us the ability to bridge the language gap between physicians and coders. We can address the root causes of coding inaccuracies and offer our customers the most comprehensive clinical benchmarking and assessment program available today." "The entire health care industry is looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. measures of quality care, and this agreement supports hospitals' efforts to deliver high-quality care, while helping them secure appropriate reimbursement," comments Stephanie Alexander, senior vice president, Premier Healthcare Informatics Same as information technology and information systems. The term is more widely used in Europe. . "Unifying around common language contributes to greater efficiencies that impact hospitals' clinical and financial performance." Perspective Online from Premier is a Web-based clinical performance tool that provides hospitals and health systems with patient-level detail to identify opportunities for improvement in clinical quality and efficiency. Using Perspective Online, hospitals can identify specific drivers of clinical quality or cost variance, and compare performance against that of peer groups or specific institutions. 3M's DRG Assurance program is designed to improve concurrent inpatient inpatient /in·pa·tient/ (in´pa-shent) a patient who comes to a hospital or other health care facility for diagnosis or treatment that requires an overnight stay. in·pa·tient n. record documentation through a comprehensive package of consulting, auditing and training services. 3M consultants help health care organizations implement a coordinated, systematic process of concurrent record review emphasizing enhanced communication between the physician, UR/QM staff and health information management professionals. The primary objective of DRG Assurance is to achieve better physician documentation for accurate patient classification by DRG to better reflect patient severity of illness indicators and risk of mortality variances, resource consumption, reimbursement accuracy, and patient conditions for care planning and outcome studies. About Premier Premier Inc, is a strategic alliance in U.S. health care, entirely owned by more than 200 of the nation's leading hospital and health care systems. These systems operate or are affiliated with more than 1,500 hospital facilities and hundreds of other care sites. Premier provides an array of resources supporting health services health services Managed care The benefits covered under a health contract delivery, including group purchasing for more than $17 billion annually in supplies and equipment. Other resources offered by Premier are insurance programs and performance improvement services of many kinds. Premier is headquartered in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif., with other major facilities in Chicago, Ill., and Charlotte, N.C. Advocacy and policy offices are located in Washington, DC. For more information, visit www.premierinc.com. About 3M Health Information Systems 3M Health Information Systems, based in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. , is a leading provider of advanced software tools and services that help health care organizations capture, classify, and manage accurate health care data. Built on a foundation of more than 20 years of clinical, financial and administrative expertise, 3M Health Information Systems' products help ensure the quality of data, which drives an organization's ability to manage revenue, comply with regulations, improve quality of patient care and manage resources effectively. 3M Health Information Systems also supports customers with world-class technical service, coding expertise, and on-site and Web-based training. More information about 3M Health Information Systems is available at www.3Mhis.com, and by calling 1-800-367-2447. About 3M 3M is a $16 billion diversified technology company with leading positions in consumer and office; display and graphics; electronics and telecommunications; health care; industrial; safety, security and protection services; transportation and other businesses. Headquartered in St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minnesota, the company has operations in more than 60 countries and serves customers in nearly 200 countries. 3M is one of the 30 stocks that make up the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. and also is a component of the Standard & Poor's 500 Index. For more information about 3M, go to www.3M.com/profile/pressbox/index.jhtml. 3M is a registered trademark of 3M. |
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