Philips and Westchester Medical Center Health Network in Valhalla, N.Y., announced a multi-year, $500 million partnership today. Philips 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 in order to transform and improve healthcare for millions of patients across New York's Hudson Valley.
The collaboration will strive to deliver quality care in areas such as radiology, cardiology, neurology, oncology and pediatrics, as WMCHealth expands beyond a single-campus academic medical center into a multi-location regional healthcare provider.
"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," said Michael D. Israel, president and CEO of WMCHealth. "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."
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.
"With health systems facing increased pressure and 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," Frans van Houten, CEO of Royal Philips, said in a statement. "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."
With access to the Philips 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.
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