GE Healthcare and Microsoft to Launch Joint Venture
A Shared Vision: Enabling better care to more people at a lower cost through health information technology
Pretend for a minute you are a nurse working with a group of doctors who help hundreds of patients with a disease like diabetes. Today, you rely on patients to come into the office with their individual charts from different doctors. Of course, there are also the important comments from patients on how they have been doing at home. You piece together the information to help improve their health, but also to make their experience easier.
Instead, imagine you could connect all of this information - latest visits to their doctors, results from tests or procedures, and all the data we will one day collect from devices at home – and compare it to the latest research. It would be so much easier to make a difference in each person’s life … you’d know which patient to contact and offer specialized help, and also be able to collaborate with everyone involved in the care of that patient.
Healthcare information technology will one day make this possible, and that is where today's news fit's in.
Consistent with our healthymagination strategy, GE and Microsoft today announced plans to start a joint venture that will allow healthcare teams to help improve quality, performance and the patient experience through health information technology.
Combining Microsoft’s deep expertise in building platforms and enterprise ecosystems with GE Healthcare’s complementary experience in clinical and administrative workflow solutions, the global venture will deliver something truly different: the industry’s first Healthcare Performance Management Suite focused on enabling population health management to alter the economics of health and wellness.
The need is real. For example, in the United States alone, wasteful healthcare spending has been calculated at up to US$1.2 trillion of the US$2.2 trillion spent on healthcare in 2008, or more than a half. The New England Journal of Medicine has reported that patients receive recommended care less than 55% of the time. The amount of clinical knowledge doubles every eight years, and it can take 14 years, on average, for new evidence to find its way into common practice.
Combining our innovation, technical skills and deep understanding of the global challenges the healthcare industry is facing, our companies have a shared vision to deliver on the promise of a connected, patient-centric healthcare system.