Premier, Inc., the Ballantyne, North Carolina-based healthcare solutions company, is reported to be engaging in a cost-cutting exercise that will result in reducing their workforce by at least 75 workers. The company provides “purchasing and performance improvement services to a network of 3,900 hospitals and 150,000 provider organizations.” The company’s 8-K filing with the Securities and Exchange Commission was laden with corporate speak. “As part of the Company’s ongoing integration synergies and efforts to realign resources for future growth areas, management is implementing certain personnel adjustments, including a workforce reduction. The majority of employees impacted by these personnel adjustments are from the company’s Performance Services segment.”
Premier’s moderately-priced publication, Economic Outlook, “highlights emerging economic and industry trends to put healthcare executives ahead of the curve. Each edition of the Outlook reveals key financial, clinical and supply chain insights from a diverse range of industry experts” and “full of actionable knowledge on best practices and strategies to improve your organization’s performance – all drawn from the industry’s most progressive leaders.”
And yet I find it somewhat ironic that Premier is laying off employees to achieve pre-tax cost savings rather than growing their business in a time when medical institutions and care providers are merging, Medicare and Medicaid reimbursement rates are plummeting and Premier's services and strategic advice is sorely needed.
Are you asking yourself, Am I Next?