Royal Philips (NYSE:PHG) said today it inked an 11-year enterprise monitoring deal with Jackson Health System.
Through the deal, the Amsterdam-based company will provide patient monitoring services on a per-patient fee basis, which Philips touted will eliminate up-front costs and allow the health system to standardize patient monitoring across the network.
“For Jackson, patient safety is paramount and trying to balance patient safety with the rapidly changing technology landscape requires innovative business models and a true partnership that will allow us to manage our IT needs, while enhancing our quality of care. This model will assist our drive for operational and clinical excellence through best practices, continuing education, and shared accountability, allowing us to focus on what matters most – empowering our staff to deliver the best possible care to our community,” Jackson Health System CEO Carlos Migoya said in a prepared statement.
The deal will cover services for all of Jackson Health’s hospitals, urgent care centers, primary care and specialty care centers and long-term care nursing facilities, Philips said.
Philips will maintain ownership of the patient care monitoring system and will provide technical support, workflow optimization, education and data management.
“By applying the software as a service model to enterprise patient monitoring in healthcare, Philips and Jackson can re-invent how health systems adopt technology. As an innovative health system, Jackson Health is partnering with us to not only offer the communities they serve the very latest in patient care monitoring systems with predictive analytics, they are pioneering a business model that could have a meaningful impact for other health systems across the country. This model will allow them to manage costs on a per patient basis and future-proof their monitoring technology, all while increasing patient and staff satisfaction through a more seamless monitoring experience,” Philips NA CEO Vitor Rocha said in a press release.
Earlier this month, Philips said it acquired U.K.-based Remote Diagnostic Technologies for an undisclosed amount.
