Royal Philips and Westchester Medical Center Health Network (WMCHealth), a 1,500-bed healthcare system based in Valhalla, NY, have announced a multiyear, $500 million partnership. According to the terms of the agreement, Philips will provide WMCHealth with a range of clinical and business consulting services, as well as imaging systems, patient monitoring, telehealth, and clinical informatics solutions.
The agreement comes as WMCHealth is looking to expand from a single-campus academic medical center into a regional healthcare provider with multiple locations throughout the Hudson Valley. WMCHealth currently comprises seven hospitals and several campuses and locations, along with nearly 300 healthcare partner organizations. Its flagship location, Westchester Medical Center, serves a region of 6,000 square miles and more than 3 million people.
“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 proactive health management and cocreate new patient-centered models of care for the Hudson Valley area.”
According to Philips, its partnerships with other hospitals have allowed those facilities to improve radiology volumes and reduce MRI waiting times by 50%. The company says those organizations have also reduced technology spending by 35% while improving clinical quality.
Under this enterprise managed services model, a team of WMCHealth and Philips representatives will work to optimize medical technology deployment and IT integration into a unified platform. By enabling early access to Philips technology, the deal will also let WMCHealth benefit from its participation in New York’s Delivery System Reform Incentive Payment (DSRIP) program. Designed to improve the healthcare delivery system by reinvesting in Medicaid, the program aims to reduce avoidable hospital use by 25% over 5 years.
For more information, visit Philips.