Improving operational efficiencies across the healthcare system is one of the most critical priorities for healthcare administrators today. Patients wait to be admitted and discharged. Doctors wait for test results. Staff wait for assignments. Rooms wait to be cleaned. Every hour spent waiting represents an expense to the hospital that in aggregate costs the health care system billions of dollars each year.
Today, GE Healthcare furthered its commitment to helping hospitals address their toughest operational challenges with the announcement of its proposed acquisition of API Healthcare, a significant healthcare workforce management solutions provider, headquartered in Hartford, WI.
With this proposed acquisition, GE Healthcare will expand its current Hospital Operations Management (HOM) portfolio to be able to address a significant portion of hospital operations costs – assets, patients and labor – with a mix of software, real-time data, powerful analytics and professional services.
The Institute for Healthcare Improvement identified wait times as one of healthcare’s biggest challenges. They said, “If we want to reduce delays and increase access, we need to redesign the system that produces them. Better results, lower costs, shorter waiting times, increased access—these will only be achieved by changing the way we do our work.”
GE currently works hand-in-hand with customers to tackle these challenges by critically looking at patient flow and asset optimization – resulting in improved efficiency, reducing unnecessary operational costs and improving the overall patient experience.
With labor costs in 2013 accounting for over 50 percent of hospital and health system operating budgets, addressing labor productivity is critical to helping the industry tackle their operational efficiency needs.
Having the data, analytics and resources necessary to proactively assign the right doctor or nurse with the right credentials to the right kind of patient at the right time is critical. This isn’t a best practice across the industry today but should be. If labor staffing is done efficiently, the quality of patient care improved.
A recent Harris Poll Survey stated that a majority (82%) of Americans age 30 or older feel that nurses within the healthcare industry are spread too thin, so patient quality care is decreasing.
GE and industry leaders strongly believe that addressing asset, patient and staff operations, collectively, in real-time will enable hospitals to run more efficiently, resulting in cost savings, shorter wait times and higher quality patient care.
Through the Industrial Internet, GE Healthcare aims to create and enable real-time data driven software solutions to help improve the way healthcare is delivered to patients globally. With this proposed acquisition, GE is positioned to help providers spend less time navigating the system and more time caring for patients.