Philips & Medical University of South Carolina Health announce an 8-year, USD 36 million strategic partnership to transform p...
May 19 2016 - 9:00AM
Business Wire
- One of the first medical schools in the
US, MUSC becomes the fifth North American institution to engage
with Philips in a long-term, strategic partnership based on
enterprise managed services model
- Strategic partnership to focus
specifically on integrated, patient monitoring technologies
Royal Philips (NYSE: PHG, AEX: PHIA) and Medical University of
South Carolina Health (MUSC Health), the clinical enterprise of
Medical University of South Carolina (MUSC), today announced an
8-year, USD 36 million strategic partnership to transform and
improve patient monitoring for more than one million patients a
year. The strategic partnership is based on an enterprise managed
services model through which Philips will install, integrate, and
manage patient monitoring systems (including consumables) and
software, as well as providing maintenance, training, and
consulting services within a structured monthly payment model.
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Medical University of South Carolina
Health (Photo: Business Wire)
Serving patients across South Carolina and beyond through four
hospital facilities in Charleston and more than 100 outreach sites,
MUSC is now the fifth long-term, strategic partnership for Philips
in North America. As hospital systems move from volume-based to
value-based care, long-term, strategic partnerships are becoming
the business model of choice for hospitals and health systems to
better manage the cost and complexity of their technology
investments, while expanding quality access to advanced medical
care for their communities.
Philips is a leader in patient monitoring systems and software,
with more than 275 million patients monitored by Philips systems
annually. Through this long-term, strategic partnership, Philips
will provide MUSC Health with continuous access to standardized,
current-state patient monitoring technology, implementation, and
asset management services. This approach helps MUSC to implement a
standardized clinical practice based on defined monitoring
configurations and enable integration and interoperability with
other clinical IT systems. Moreover, MUSC will have better
collection and management of patient data in order to provide more
informed, proactive diagnostic and treatment services, helping to
reduce complications, adverse events, length of stay, and
readmissions.
“We want to give our staff, learners, and patients access to the
best patient monitoring technologies in order to deliver on the
highest quality, safest, and most reliable healthcare through the
use of Phillips patient monitoring equipment across our entire
enterprise,” said Patrick J. Cawley, MD, CEO, MUSC Health. “As one
of the leading academic health centers in the country, whose value
proposition is transforming expertise, learning and discovery into
unrivaled patient-centered care in every setting, partnering with
Philips will help us to meet our goal of delivering an exceptional
patient care experience.”
Long-term, strategic partnership models are well established
globally and have demonstrated significant productivity
improvements for pioneering Philips partners including Royal
Belfast and Ashford St. Peters, and the New Karolinska Solna (NKS)
hospital in Sweden. In less than a year, Philips has signed four
long-term, strategic partnerships in North America including
Westchester Medical Center Health Network (15 year term); Mackenzie
Health (18 year term); and Marin General Hospital (15 year
term).
“Due to a growing aging population and the rising number of
people with chronic diseases, healthcare providers are seeking more
cost-effective ways to monitor, diagnose, and treat patients,” said
Frans van Houten, CEO of Royal Philips. “As the healthcare industry
is evolving, long-term, strategic partnerships are becoming the
business model of choice, allowing health systems to address
value-based models and keep pace with technology, while improving
the patient experience. Together, Philips and MUSC can offer
patients access to more than a century of experience in healthcare
innovation and deliver an exceptional patient experience and
quality care, while managing the rising healthcare costs.”
MUSC is one of the nation’s top academic health science centers,
with a 750-bed medical center (MUSC Health) and six colleges. As
South Carolina’s only comprehensive academic health center
providing a full range of programs in the biomedical sciences, MUSC
is engaged in activities statewide. Its campus is located on more
than 80 acres in the city of Charleston, with an overall population
of about 13,000 clinicians, faculty, and staff, including nearly
3,000 students in six colleges (Dental Medicine, Graduate Studies,
Health Professions, Medicine, Nursing, and Pharmacy) studying for
degrees at the baccalaureate, masters, doctoral, and other
professional levels.
About Royal PhilipsRoyal Philips (NYSE: PHG, AEX: PHIA)
is a leading health technology company focused on improving
people’s health and enabling better outcomes across
the health continuum from healthy living and prevention, to
diagnosis, treatment and home care. Philips leverages advanced
technology and deep clinical and consumer insights to
deliver integrated solutions. The company is a leader in
diagnostic imaging, image-guided therapy, patient
monitoring and health informatics, as well as
in consumer health and home care. Philips’
wholly owned subsidiary Philips Lighting is the
global leader in lighting products, systems and
services. Headquartered in the Netherlands, Philips posted
2015 sales of EUR 24.2 billion and employs approximately 105,000
employees with sales and services in more than 100 countries. News
about Philips can be found at www.philips.com/newscenter.
About MUSC HealthMUSC Health is the clinical enterprise
of the Medical University of South Carolina (MUSC) comprised of a
750-bed Medical Center, the MUSC College of Medicine and the
physician’s practice plan. It serves patients across South Carolina
and beyond through four hospital facilities in Charleston and more
than 100 outreach sites. Among these are the Hollings Cancer
Center, a National Cancer Institute-designated center, and a
nationally recognized Children’s Hospital. The Medical University
was founded in 1824 and has risen to become a premiere academic
medical center at the forefront of the latest advances in medicine,
with world-class physicians and other scientists and groundbreaking
research and technology that is often the first of its kind in the
world.
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version on businesswire.com: http://www.businesswire.com/news/home/20160519005309/en/
Philips Group CommunicationsKathy O’Reilly,
+1-978-221-8919Kathy.oreilly@philips.comTwitter:
@kathyoreillyorPhilips North AmericaSilvie Casanova,
+1-781-879-0692silvie.casanova@philips.comorMUSCHeather Woolwine,
+1-843-792-7669woolwinh@musc.edu
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