Philips and nonprofit health system Banner Health have inked a multiyear partnership to build on their earlier work in connected healthcare. The 15-year pact will see the duo developing solutions that will improve the health of Banner Health patients.
Under the agreement, the companies will set up a “governance structure” within which they will identify solutions and technologies to take a more connected approach to healthcare and thereby improve patient experience and outcomes, according to a statement.
Philips will bring its connected care and population health management expertise to the table, while Phoenix-based Banner will contribute clinical and operational experience. In addition to Arizona, the healthcare system operates in California, Colorado, Nebraska, Nevada and Wyoming.
Banner will also get its hands on Philips’ telehealth tools, such as one for radiology practice management that could potentially boost efficiency, clinical quality and patient experience when it comes to imaging, according to the companies.
“As a dedicated partner with deep industry expertise and technology solutions that are co-developed with leading healthcare networks such as Banner, we are accelerating the transformation of healthcare through proven health management programs,” said Brent Shafer, CEO of Philips North America, in the statement. “Our long-standing collaboration with Banner has shown that keeping people healthy and empowering them to take a more active role in their care allows health systems to expand access, manage costs and improve outcomes.”
The pair has previously teamed up on the Intensive Ambulatory Care pilot program. Philips’ IAC scheme aims to improve outcomes, provide better value and expand access to quality care, and as part of the telehealth program at Banner, treats patients with multiple chronic conditions.
Philips and Banner reported their latest cost-analysis figures on Monday. A 128-patient study found that the IAC program helped reduce cost of care by 35%, hospitalizations by 50% and the 30-day readmission rate by 75%, according to a statement.
Banner joins a number of other healthcare systems that have inked long-term partnerships with the devicemaker, including Westchester Medical Center Health Network, Marin General Hospital, Mackenzie Health and the Medical University of South Carolina Health.