GE Healthcare and Jefferson Health Launch Multi-Year Risk-Sharing Relationship Targeting $1 Billion in Efficiencies
July 17 2017 - 9:00AM
Business Wire
Goal to integrate and optimize healthcare
delivery for patients; providing smarter and more affordable
world-class care
GE Healthcare and Jefferson Health have announced an eight-year,
shared-risk relationship that will help Jefferson strategically
transform healthcare delivery in the Philadelphia region for the
benefit of patients and their families. The goal of this
collaboration is to create a forward-looking, robust health system
by removing redundancies and maximizing sourcing efficiencies. One
of only five such long-term relationships in the U.S. and its
largest, GE Healthcare and Jefferson have the potential to generate
$500 million to $1 billion in efficiencies with Jefferson that can
be directed toward services that best meet patient needs over the
term of this relationship.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20170717005430/en/
“We have a unique opportunity to become the region’s leader in
delivering even greater value to our patients — offering them
high-quality care at a lower cost, wrapped around an exceptional
patient care experience — every time,” said Stephen K. Klasko, MD,
MBA, President and CEO of Thomas Jefferson University and Jefferson
Health. “With the industry knowledge and global expertise of GE
Healthcare, we will gain significant efficiencies that will enable
us to reinvest in initiatives that improve the lives of those we
care for.”
During the course of the relationship, Jefferson Health and GE
staff will work side-by-side in areas throughout Abington, Aria,
and Jefferson to acquire a deep understanding of operations and
processes. The teams will focus on strategic growth, operations,
integration, and performance improvement opportunities, while
leveraging technology to deliver best-in class, seamless care that
is convenient and affordable for the patient.
“With the healthcare industry facing unprecedented levels of
patient demand and increasing cost pressures, it’s great to see
health systems like Jefferson seek new and innovative ways to
improve better outcomes for patients,” said John Flannery, incoming
CEO and Chairman elect of GE. “This collaboration, which is
financially tied to our shared success, demonstrates the confidence
we have to jointly deliver world-class health care for the
community.”
Through a shared-risk model that aligns the economic interests
of Jefferson Health with GE Healthcare, both organizations have
agreed to critical milestones that must be achieved throughout the
eight-year relationship. A portion of GE Healthcare’s fees are
contingent upon the level of success both organizations have in
reaching certain integration goals.
“To prepare for the launch of this multi-year relationship, some
of GE Healthcare’s senior-most leaders have been onsite, working
closely with us to ensure we’re doing all we can up front to
position all of us for long-term success,” said Kathleen Kinslow,
Jefferson Health’s Chief Integration Officer and leader for this
comprehensive initiative. “They have become valued members of our
extended team and their level of engagement has been
exceptional.”
Nationwide, academic medical centers are facing a growing gap
between the cost of their clinical missions and the available
funding that threatens the future of those missions. New approaches
to optimize health system performance, including improving the
patient experience and the health of populations at a lower cost,
are essential to ensure sustainability. The unique relationship
with GE Healthcare presents an opportunity to proactively address
today’s healthcare challenges.
“Together, Jefferson and GE Healthcare are charting a new course
by taking the necessary steps today that will help shift the
healthcare paradigm,” said Klasko. “My message is simple. We need
to transform our industry, continue to be optimistic about our
future, and embrace disruption, such as consumerism, to effectively
change the way we deliver health care in this country.”
About Jefferson
Jefferson, through its academic and clinical entities of Thomas
Jefferson University and Jefferson Health, including Abington
Health and Aria Health, is reimagining health care for the greater
Philadelphia region and southern New Jersey. Jefferson has 23,000
people dedicated to providing the highest-quality, compassionate
clinical care for patients, educating the health professionals of
tomorrow, and discovering new treatments and therapies to define
the future of care. With a university and hospital that date back
to 1824, today Jefferson is comprised of six colleges, nine
hospitals, 35 outpatient and urgent care locations, and a multitude
of physician practices throughout the region, serving more than
100,000 inpatients, 373,000 emergency patients and 2.2 million
outpatients annually.
About GE Healthcare
GE Healthcare provides transformational medical technologies and
services to meet the demand for increased access, enhanced quality
and more affordable healthcare around the world. GE Healthcare (GE)
works on things that matter - great people and technologies taking
on tough challenges. From medical imaging, software & IT,
patient monitoring and diagnostics to drug discovery,
biopharmaceutical manufacturing technologies and performance
improvement solutions GE Healthcare helps medical professionals
deliver great healthcare to their patients.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170717005430/en/
Gail BennerJefferson HealthMedia Relations
ManagerGail.Benner@Jefferson.eduOffice: 215-955-2240Cell:
267-283-8382orJennifer FoxGE HealthcareExternal
AffairsJennifer.R.Fox@GE.comOffice: 414-721-3813Cell:
414-530-3027
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Apr 2024 to May 2024
GE Aerospace (NYSE:GE)
Historical Stock Chart
From May 2023 to May 2024