The news of GE Healthcare’s formation of a discrete business unit for healthcare IT, named Performance Solutions, underscores the growing pressure for operational efficiency in the field. In the US, addressing costs is at the center of the healthcare debate with even bigger issues looming around the corner.
The inefficiencies inherent in healthcare will worsen the cost equation, and the tremendous variance across healthcare organizations has potential to plague the improvements that have been made in cost, quality and access over the last decade.
“Advancing the system doesn’t require a reinvention of the wheel,” said John Dineen, president and CEO of GE Healthcare. It requires us to partner together and help each other connect the dots, identify best practices, insights and findings that will allow our healthcare providers to deliver the best in quality care to our patients.”
Great tools already exist in healthcare IT, change management, asset optimization, patient safety, leadership and organizational excellence, but there is a significant opportunity to develop future technologies that address the variance challenge that plagues most healthcare systems globally.
Last week, GE hosted a daylong healthymagination thought leadership summit focused on hospital efficiency in New York City. The summit featured a wide range of speakers and panel discussions covering everything from the role informatics plays in driving efficiencies to how can an organization foster cultural shifts within the hospital in order to deliver better quality care for the patient.
As Mark Chassin, president, The Joint Commission stated during his keynote presentation, “this is a global challenge. The Joint Commission now accredits about 350 hospitals in 41 countries and I can tell you that every developed healthcare system is facing exactly the same challenges.”
GE is dedicated to making an impact in the hospital efficiency space. In support of healthymagination, GE’s $6 billion commitment to provide better health for more people around the world, GE Healthcare announced a new business unit, called GE Healthcare Performance Solutions.
This new GE Healthcare business will link parts of the Healthcare IT business such as GE’s clinical knowledge base with the current Performance Solutions platform, which consists of innovative operational improvement informational technology and change management capabilities. It was announced that GE Healthcare is investing an additional $25 million of annual R&D spend as well as adding more than 100 new employees over the next year to help develop these new clinical solutions and help customers achieve their goals.
Working with hospitals across the United States, the legacy Performance Solutions business helped take out approximately $91 million dollars in unnecessary cost by helping hospitals simplify processes, open up additional capacity to treat people using the current infrastructure, and ensure the right tools are on hand to address patient needs.
Collaborating with hospitals and researchers on the cutting edge of healthcare technology is a critical component of GE’s Healthymagination strategy as well as GE Healthcare’s business strategy.