£317 million patnership for Royal Phillips and WMCHealth
The £317 million, multi-year partnership between Royal Phillips and Westchester Medical Centre Health Network (WMCHealth) aims to improve healthcare for millions of patients across New York’s Hudson Valley.
The partnership is based on an enterprise managed services model created by Phillips. The model will provide WMCHealth with a comprehensive range of clinical and business consulting services as well as advanced medical technologies such as, imaging systems, patient monitoring, telehealth and clinical informatics solutions.
The partnership is part of WMCHealth’s transformation to a regional network as the largest provider of integrated health in the Hudson Valley.
Michael D. Israel, president and CEO of WMCHealth, said: “In order for us to make the large-scale improvements that will truly impact the lives of our patients, we need to think longer term and be able to adapt quickly as technology evolves. Our alliance with Philips not only gives us access to the latest in connected digital health technologies, it will allow us to collaborate on pro-active health management and co-create new patient-centered models of care for the Hudson Valley area. Together, we are working to keep the Hudson Valley healthy through a model that supports innovation and transformation in a value-driven environment.”
In similar long-term partnerships with Philips, hospitals have been able to significantly improve radiology volumes and cut MRI waiting times in half. These organizations are seeing a 35 percent reduction in technology spending, while improving clinical quality.
Frans van Houten, CEO of Royal Philips, said: “With health systems facing increased pressure, more complex challenges than ever before, and patients starting to take a more active role in their care, we can no longer accept the status quo. Health systems need a dedicated partner that can bring not just technology, but also deep healthcare and consumer expertise, resources and solutions that will help accelerate the transformation of their organization and ecosystem. Our partnership with WMCHealth allows health systems to expand access to quality care, manage costs and share risk. This allows them to focus on what matters most: delivering better care to the people in their communities.”
A core part of Philips’ managed services model is the focus on continuous improvement through collaboration with key health system partners such as WMCHealth. With early and ongoing access to the latest Philips innovations in health technology, WMCHealth will be able to maximize the effectiveness of its participation in New York’s Delivery System Reform Incentive Payment program, aimed at restructuring the healthcare delivery system by reinvesting in the Medicaid program, with the primary goal of reducing avoidable hospital use by 25 percent over five years.