Royal Philips and MUSC Health, the clinical enterprise of Medical University of South Carolina has announced an eight-year, $36 million strategic partnership to transform and improve patient monitoring for more than one million patients a year. The strategic partnership is based on an enterprise managed services model through which Philips will install, integrate, and manage patient monitoring systems (including consumables) and software, as well as providing maintenance, training, and consulting services within a structured monthly payment model.
Serving patients across South Carolina and beyond through four hospital facilities in Charleston and more than 100 outreach sites, MUSC is now the fifth long-term, strategic partnership for Philips in North America. As hospital systems move from volume-based to value-based care, long-term, strategic partnerships are becoming the business model of choice for hospitals and health systems to better manage the cost and complexity of their technology investments, while expanding quality access to advanced medical care for their communities.
Philips is a provider of patient monitoring systems and software, with more than 275 million patients monitored by Philips systems annually. Through this long-term, strategic partnership, Philips will provide MUSC Health with continuous access to standardized, current-state patient monitoring technology, implementation, and asset management services. This approach helps MUSC to implement standardized clinical practice based on defined monitoring configurations and enable integration and interoperability with other clinical IT systems. Moreover, MUSC will have better collection and management of patient data in order to provide more informed, proactive diagnostic and treatment services, helping to reduce complications, adverse events, length of stay, and readmissions.
“We want to give our staff, learners, and patients access to the best patient monitoring technologies in order to deliver on the highest quality, safest, and most reliable health care through the use of Philips patient monitoring equipment across our entire enterprise,” said Patrick J. Cawley, MD, CEO, MUSC Health. “As one of the leading academic health centers in the country, whose value proposition is transforming expertise, learning and discovery into unrivaled patient-centered care in every setting, partnering with Philips will help us to meet our goal of delivering an exceptional patient care experience.”