Philips and Westchester Medical Center Health Network (WMCHealth) announced a $500 million, multi-year partnership to transform and improve healthcare for millions of patients across New York’s Hudson Valley.
Building on its success with strategic managed services enterprise partnerships around the world, including Georgia Regents Medical Center, the deal reinforces Philips leadership in teaming with health systems in new ways to help them thrive in an evolving and increasingly competitive market. Together, Philips and WMCHealth will redefine how quality care is delivered and support WMCHealth’s transformation from a single medical center to a multi-campus regional provider of integrated health.
The partnership is part of WMCHealth’s transformation to a regional network as the largest provider of integrated health in the Hudson Valley. A 1,500-bed health system headquartered in Valhalla, New York, WMCHealth spans seven hospitals and several campuses and locations, along with nearly 300 healthcare partner organizations. Its flagship, Westchester Medical Center, is the only regional resource for complex medical and surgical interventions, covering 6,000 square miles in eight counties and serving more than three million people.
Goals of strategic alliance include:
Ø Standardize care and technology across the health system and allocate resources appropriately to support care delivery for the community;
Ø Create new patient-centered models of care to pave the way for population health management in a value-driven reimbursement environment;
Ø WMCHealth will be able to maximize the effectiveness of its participation in New York’s Delivery System Reform Incentive Payment (DSRIP) program, aimed at restructuring the healthcare delivery system by reinvesting in the Medicaid program, with the primary goal of reducing avoidable hospital use by 25 percent over five years.
Ø Provide WMCHealth with early access to the latest in connected health technologies in clinical areas including cardiology, radiology, oncology, neurology and pediatrics.
The partnership underscores Philips’ commitment to provide new solutions for hospitals and health systems driven by a fundamental shift in U.S. healthcare management towards strategic partnerships for creating long-term patient value, while managing costs, complexity and risk. In similar long-term partnerships with Philips, hospitals have been able to significantly improve radiology volumes and cut MRI waiting times in half. These organizations are seeing a 35 percent reduction in technology spending, while improving clinical quality.
