GE Healthcare and Mission Health Launch First of a Kind Outcomes-Based Innovation Collaboration
August 26 2016 - 9:30AM
Business Wire
New Care Process Models to Benefit Health
Systems Nationwide
- Emphasis on driving meaningful,
measurable outcomes for the next decade that are scalable
nationwide
- Mission targeting $40 million in
direct, operational savings through focus on optimizing radiology,
streamlining biomedical services and replacing monitoring and
telemetry equipment system-wide
Today, Mission Health and GE Healthcare announced a novel,
10-year outcomes-based agreement that will help drive significant
value for patients, Mission Health, GE and health systems
nationwide. As a non-academic, regional integrated health system
that includes a 730 bed, high-volume, high-acuity
tertiary-quaternary hospital, Mission is looking to balance
clinical quality with significant cost savings and efficiency
across their system — the same challenge facing nearly all
healthcare systems nationwide.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20160826005228/en/
“This is an innovative, collaborative, outcomes-driven
relationship focused on developing new, transformational ways of
caring for patients at Mission Health and nationwide,” said
Ronald A. Paulus, MD, President and CEO, Mission Health.
“The challenges we face at Mission are like so many health systems
across the nation. Our goal is to improve our margin, drive
system-wide efficiency and deliver an exceptional, transparent
experience for every patient, family and team member. The solutions
that we develop and cost savings we achieve with GE will be
scalable and applicable to other similar healthcare systems. This
is truly exciting for Mission and the industry.”
“To make this level of partnership possible, it takes two
organizations to think both differently and collaboratively,” said
John Flannery, President and CEO, GE Healthcare. “We are
honored to work with Mission Health and strongly believe that this
strategic, outcomes-based agreement will ensure alignment and focus
on shared priorities. We are passionate about delivering on our
commitment while helping to enhance clinical quality, patient
experience and operational efficiency.”
Mission Health and GE Healthcare will work in partnership to
solve the system’s most complex challenges delivering over $40
million in savings for Mission Health over the course of the
relationship:
- First of a Kind, Co-created
Innovation Collaboration: Mission Health and GE Healthcare will
co-develop, pilot and deploy transformational healthcare solutions
focused initially on two areas: optimizing imaging experience and
utilization and smoothing patient care transitions.
- Imaging: The focus will be on
supporting a patient’s ability to make informed choices based upon
key variables such as comparative costs and wait times while
providing rapid results. From the provider perspective, the focus
will be on streamlining the complex process of getting patients to
the right imaging modality, at the right time, in the right place
across the system while balancing capacity and availability.
- Care Transitions: The approach
will leverage predictive modelling and other analytics to ensure
that the patient receives the right care in the right setting with
the right technology to maximize patient outcomes, experience and
minimize costs.
By leveraging GE’s deep technology, consulting, software, IT and
workflow expertise and Mission’s in-depth clinical experience and
“real world learning laboratory”, Mission and GE Healthcare will
help shape the next generation of technology, tools, and processes
to support healthcare’s transformation. This is less about one
product or capability and more broadly aligned around how
technology and services can work together to deliver outcomes for
patients. Many of the findings and solutions developed through this
collaboration can be transferred and used by systems
nationwide.1
- Key areas of operational focus
within mission health include:
- Radiology Optimization: Imaging
is a core component of many service lines and care plans – yet in
most organizations it is optimized or structured to function as a
central backbone of care delivery. A systematic focus on
imaging/radiology drives system-wide efficiency by improving speed
to diagnosis, increasing asset utilization, reducing un-necessary
retakes, reducing overall care costs and reducing waiting time for
patients and clinicians system-wide. As care shifts to a
value-based model, radiology must transform from a simple revenue
or cost center to one that actively supports risk-based care models
and helps Mission achieve its goal of providing same day,
cost-effective care.
- System-wide Bedside Monitoring
Transformation: Mission Health is replacing its bedside
monitoring and telemetry at all seven facilities to support rapidly
increasing inpatient acuity, reduce internal and cross-facility
transfers and provide seamless care regardless of site. The new
monitoring platform will ensure that all equipment is
interconnected and that data is readily available to the clinician
in the moments that matter most. By providing immediate access to
critical data, especially in areas like the emergency department,
caregivers can improve patient safety and speed to diagnosis and
reduce patient wait times, reduce false positive and optimize
patient placement keeping patients close to home as much as
possible.
- Radiology and Biomedical Services
with Asset Optimization: GE Healthcare will assume
responsibility for servicing diagnostic and biomedical equipment at
Mission Health. This will drive standardization, consistency and
overall increased reliability and quality of care.
This relationship is the culmination of a significant investment
by GE Healthcare Partners, the management consulting arm of GE
Healthcare. GE Healthcare Partners have built capabilities to
advise and execute services that connect GE’s products to clients
like Mission Health to improve quality, reduce cost, and increase
access. GE Healthcare Partners offers broad advisor services,
analytics & predictive modeling capabilities, and has expertise
implementing outcomes across the healthcare continuum.
About Mission Health
Mission Health, based in Asheville, North Carolina, is the
state’s sixth-largest health system and was recognized as one
of the nation’s Top 15 Health Systems from 2012-2015 by Truven
Health Analytics, formerly Thomson Reuters, becoming the only
health system in North Carolina to achieve this recognition.
Mission Health operates six hospitals, numerous outpatient and
surgery centers, post-acute care provider CarePartners, long-term
acute care provider Asheville Specialty Hospital, and the
region’s only dedicated Level II trauma center. With
approximately 10,700 employees and 2,000 volunteers, Mission
Health is dedicated to improving the health and wellness of the
people of western North Carolina. For more information, please
visit mission-health.org or @MissionHealthNC.
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.
http://www.gehealthcare.com
1 Mission Health is the only tertiary-quaternary healthcare
provider in western North Carolina, has been named a Top 15 Health
System (Truven Health Analytics) in four of the past five years and
recently had the lowest readmission rate of any general acute care
hospital in the nation (Modern Healthcare). The health system and
its leaders already have developed several solutions that are being
used and distributed nationwide.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160826005228/en/
GE HealthcareBritta KonsBritta.Kons@ge.com203-400-1892orMission
Health SystemRowena Buffett
TimmsRowena.BuffettTimms@msj.org828-450-4224
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Aug 2024 to Sep 2024
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Sep 2023 to Sep 2024