GE HealthCare and Hartford HealthCare Renew and Evolve 7-Year Collaboration to Advance Patient Care and Access in Connecticut

Rhea-AI Summary

GE HealthCare and Hartford HealthCare renew their collaboration to advance healthcare through imaging technology upgrades and AI integration, aiming to provide personalized quality care through 2030.

Insights

Market Research Analyst

The extended collaboration between GE HealthCare and Hartford HealthCare represents a strategic investment into cutting-edge medical imaging technology and could signal a broader trend within the healthcare industry towards prioritizing technological innovation to improve patient outcomes. This partnership is likely to enhance Hartford HealthCare's competitive position by providing access to state-of-the-art equipment and software, potentially attracting more patients and healthcare professionals looking for advanced diagnostic capabilities.

From a market perspective, the agreement may result in increased sales and market penetration for GE HealthCare, as the commitment to regular upgrades and maintenance could lead to recurring revenue streams. This long-term service agreement could be a model for other healthcare providers, potentially leading to similar deals that could boost GE HealthCare's financial performance over time.

Medical Technology Analyst

The integration of advanced AI and machine learning software in medical imaging equipment, as described in the collaboration, is a significant step in the evolution of diagnostic medicine. Technologies like the Critical Care Suite 2.0, Deep Learning Image Reconstruction and AIR™ Recon DL represent substantial advancements in the field, offering the potential for more accurate diagnoses and improved patient care.

For investors and stakeholders in the medical technology sector, this collaboration underscores the importance of continuous innovation and the adoption of AI in healthcare. The emphasis on reducing scan times and improving diagnostic accuracy through these technologies could set new industry standards and drive demand for GE HealthCare's products, potentially impacting its stock market performance positively.

Healthcare Economist

The emphasis on decreasing the total cost of care while increasing access to innovation is a critical aspect of the Care Alliance. By streamlining the acquisition, deployment and redeployment of imaging technology, Hartford HealthCare could achieve cost savings and operational efficiencies. These efficiencies may translate into lower healthcare costs for patients and payers, aligning with broader economic goals of sustainable healthcare spending.

Additionally, in-house maintenance by GE HealthCare technicians and the focus on minimizing technology obsolescence could reduce long-term operational costs for Hartford HealthCare. This approach to managing healthcare technology lifecycle costs can be an essential consideration for healthcare systems aiming to balance financial sustainability with high-quality patient care.

The Care Alliance agreement features a systematic approach focused on innovation, patient and staff experience, and imaging advancements through 2030

HARTFORD, Conn.--(BUSINESS WIRE)-- GE HealthCare (Nasdaq: GEHC), a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, and Connecticut-based Hartford HealthCare today announced that they have renewed a seven-year collaboration that began in 2016 to now extend through 2030, aiming to advance the healthcare system’s mission to provide personalized coordinated quality care. The Care Alliance strives to assist Hartford HealthCare in increasing access to innovation while decreasing the total cost of care for patients.

Hartford HealthCare will upgrade its imaging technology using a phased approach to the acquisition, deployment and redeployment of essential equipment like CT, PET/CT, MRI, X-ray, nuclear medicine, mammography, ultrasound and OEC 3D surgical imaging C-arm, keeping Hartford HealthCare’s imaging technologies current with the latest advancements in software, artificial intelligence and future innovations. The collaboration will increase patients’ access to GE HealthCare’s most current imaging technology, and may provide shorter scan times, reduced waiting times for care, and enable clinicians to have greater accuracy in diagnostic assessments. The agreement also includes GE HealthCare patient monitoring, anesthesia, maternal infant care and diagnostic cardiology technologies.

“Our ongoing collaboration with GE HealthCare will allow Hartford HealthCare to provide exceptional imaging services, continually upgrading our technology so patients and clinicians across our system can be confident in having access to the most up-to-date capabilities,” said Karen Goyette, Executive Vice President and Chief Strategy and Transformation Officer. “This is especially important now, as technologies, equipment and training are advancing at an ever-increasing pace.”

GE HealthCare’s initial engagement with HHC led to the creation of the system’s Care Logistics Center in 2017. “The center allows us to match patients’ needs with the best care we can provide, quickly and expertly,” Goyette added. “We are looking forward to continued advances that benefit our patients and clinicians through this new collaboration.”

Many of the new imaging systems in the collaborative effort will include tested AI and machine learning software, which will augment clinical expertise. For example, Critical Care Suite 2.0 is a software solution designed to assist clinicians in the intensive care unit by providing AI-powered insights and analytics to analyze medical images and detect potential critical conditions in real-time, such as collapsed lungs or errors in chest x-ray acquisitions^{1 2}. By integrating seamlessly with existing systems, the Critical Care Suite 2.0 is designed to help expedite diagnosis, optimize treatment decisions, and improve patient outcomes. Additionally, Deep Learning Image Reconstruction is the next generation image reconstruction option that uses a dedicated Deep Neural Network to generate TrueFidelity CT Images, which have the potential to improve reading confidence in a wide range of clinical applications such as head, whole body and cardiovascular, for patients of all ages. As a third example, AIR™ Recon DL employs AI to enhance image reconstruction, using deep learning algorithms to improve the quality and speed of MRI scans. By optimizing image reconstruction, AIR™ Recon DL reduces artifacts, enhances image clarity, and enables shorter scan times³. It enables healthcare providers to obtain high-quality diagnostic images while improving patient comfort and workflow efficiency.

“This strategic Care Alliance builds upon a successful first seven years and incorporates new elements that will help Hartford HealthCare stay current with our latest GE HealthCare technology as it continues to evolve, minimizing technology obsolescence and optimizing clinical capabilities now and in the future,” said Catherine Estrampes, president and CEO, U.S. and Canada at GE HealthCare. “We have seen many changes to the needs of healthcare over the last several years and collaborations like this enable us to work together with patient access and care, as well as clinician experience front of mind. It enables us to keep innovating together while continuing to explore additional potential opportunities.”

Under the renewed service agreement, GE HealthCare technicians will be available in-house to repair and complete maintenance on all equipment within the scope of the collaboration. Additionally, regular upgrades to equipment will help ensure Hartford HealthCare’s fleet of imaging technology is optimized with the most innovative technology and tools available. The collaborative relationship with facilities, operations, clinical engineering and GE HealthCare’s project management and service teams will continue the holistic framework for maximizing the performance and longevity of Hartford HealthCare’s equipment with a focus on patient safety. GE HealthCare and Hartford HealthCare will also execute build-in-place upgrades with some existing MRI, CT, PET/CT, and X-rays to refresh older systems with fewer construction costs and while minimizing waste, equipment downtime, and disruption to patient care.

About Hartford Healthcare

With 41,000 colleagues, Hartford HealthCare’s unified culture enhances access, affordability, equity and excellence. Its care-delivery system — with more than 500 locations serving 185 towns and cities — includes two tertiary-level teaching hospitals, an acute-care community teaching hospital, an acute-care hospital and trauma center, three community hospitals, a behavioral health network, a multispecialty physician group, a clinical care organization, a regional home care system, an array of senior care services, a mobile neighborhood health program and a comprehensive physical therapy and rehabilitation network. On average, Hartford HealthCare touches more than 23,000 lives every single day. The unique, system-wide Institute Model offers a unified high standard of care in crucial specialties at hospital and ambulatory sites across Connecticut offering unparalleled expertise at the most affordable cost. The institutes include: Ayer Neuroscience, Behavioral Health, Cancer, Digestive Health, Heart and Vascular, Orthopedics and Tallwood Urology & Kidney. In 2023, Hartford Healthcare became the first and only health system in Connecticut to earn all A’s from Leapfrog Group, a data-based organization focused on patient safety. Visit Hartford HealthCare at www.HartfordHealthCare.org and stay connected through newsletters and social media.

About GE HealthCare Technologies Inc.

GE HealthCare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier. Serving patients and providers for more than 100 years, GE HealthCare is advancing personalized, connected, and compassionate care, while simplifying the patient’s journey across the care pathway. Together our Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics businesses help improve patient care from diagnosis, to therapy, to monitoring. We are a $19.6 billion business with 51,000 colleagues working to create a world where healthcare has no limits.

Follow us on LinkedIn, X (formerly Twitter), and Insights for the latest news, or visit our website https://www.gehealthcare.com/ for more information.

¹ Rachh, Pratik et al. “Reducing STAT Portable Chest Radiograph Turnaround Times: A Pilot Study.” Current Problems in Diagnostic Radiology Vol. 47, No. 3 (n.d.): 156–60. https://www.sciencedirect.com/science/article/abs/pii/S0363018817300312?via=ihub.
² The Pneumothorax AI algorithm is also available with GE Healthcare’s Critical Care Suite 1.0 on the Definium Tempo, Definium 646 HD and Definium 656 HD digital radiography systems
³ https://www.gehealthcare.com/-/media/gehc/us/images/products/magnetic-resonance-imaging/air-technology/recondl/features-list/case-study-air-recon-dl--jb19184xx.pdf?rev=-1

View source version on businesswire.com: https://www.businesswire.com/news/home/20240314488911/en/

Hartford HealthCare Media Relations:

Tina Varona

M +1 860-310-7640

Tina.Varona@hhchealth.org



GE HealthCare Media Relations:

Allison England

M +1 312-618-5465

Allison.England@gehealthcare.com

Source: GE HealthCare

FAQ

What is the duration of the renewed collaboration between GE HealthCare and Hartford HealthCare?

The collaboration extends through 2030, spanning seven years from 2016.

What imaging technologies will Hartford HealthCare upgrade as part of the collaboration?

Hartford HealthCare will upgrade CT, PET/CT, MRI, X-ray, nuclear medicine, mammography, ultrasound, and OEC 3D surgical imaging C-arm equipment.

How will the collaboration benefit patients in terms of imaging technology?

Patients will have increased access to the latest GE HealthCare imaging technology, shorter scan times, reduced waiting times, and improved diagnostic accuracy.

What AI software solutions will be integrated into the new imaging systems?

AI software solutions like Critical Care Suite 2.0, Deep Learning Image Reconstruction, and AIR™ Recon DL will be utilized to enhance diagnostic capabilities and improve patient outcomes.

What services will GE HealthCare technicians provide under the renewed service agreement?

GE HealthCare technicians will offer in-house repairs, maintenance, and upgrades to ensure optimal performance of Hartford HealthCare's imaging technology.