STOCK TITAN

Philips and Northwell Health partner to standardize and future-proof patient monitoring across the enterprise

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Positive)
Tags
partnership
Rhea-AI Summary

Royal Philips has entered into a seven-year agreement with Northwell Health, New York's largest healthcare provider, to implement a patient monitoring platform. This initiative aims to standardize patient monitoring, enhance care, and improve outcomes through data innovation and interoperability. Northwell Health, with 83,000 employees and over 2 million patients treated annually, plans to utilize Philips' system to increase scalability and efficiency in patient monitoring. The partnership supports advanced technologies and aims to deliver better healthcare experiences while minimizing manual tasks for staff.

Positive
  • Seven-year agreement with Northwell Health to enhance healthcare delivery.
  • Standardization of patient monitoring leading to improved patient outcomes.
  • Utilization of AI for actionable clinical insights, enhancing patient care.
  • Scalable and flexible platform supports future healthcare technologies.
Negative
  • None.

April 4, 2023

New York State’s largest health system adopts Philips patient monitoring platform to drive integration and innovation for a better patient and staff experience and improved outcomes  

Amsterdam, the Netherlands and New Hyde Park, N.Y., USA – Royal Philips (NYSE: PHG, AEX: PHIA) a global leader in health technology, and Northwell Health, the largest healthcare provider in the state of New York, USA, announced today they have entered into a seven-year agreement to help the health system standardize patient monitoring, enhance patient care and improve patient outcomes while driving interoperability and data innovation. This will not only allow Northwell Health to lay the foundation for a future-proof, enterprise-wide platform, but the system will also allow them to support innovative technologies as they evolve and give them the flexibility to scale their patient monitoring systems quickly and efficiently.

As the largest healthcare provider in the state, Northwell Health has 83,000 employees, 21 hospitals, including their flagship facilities North Shore University Hospital and Long Island Jewish Medical Center, 850 outpatient facilities and one of the largest residency programs in the U.S. with over 1,900 residents and fellows. All of this to help them address a service area of twelve million people, treating over two million patients a year, delivering over 30,000 babies, and treating more New Yorkers for cancer than any other care provider. Northwell Health is also pioneering research at the Feinstein Institutes, including national clinical trial sites for treating lupus, rheumatoid arthritis, and paralysis.

“With the new system, we wanted something that could leverage our existing IT infrastructure and allow Northwell to offer cybersecurity, while also building in redundancy with local availability,” said Phyllis McCready, vice president and chief procurement officer for Northwell Health. “The new Philips system gives us an enterprise-wide platform that centralizes our patient monitoring and allows us to see what is happening at each bedside. The innovative approach is extensible and allows us to give the communities we serve the very latest technology, while helping us to deliver a better patient and staff experience and better outcomes.”

In the wake of the pandemic, health systems like Northwell Health that already treat millions of patients a year required new levels of scalability. In many cases, they were having to convert unconventional spaces like convention centers and parking lots into ICUs to help treat patients. With the Philips patient monitoring platform, they have a vendor-agnostic system that will leverage the health system’s existing network infrastructure, along with Philips Software Evolution Services, to standardize care and ensure that Northwell Health is at the forefront of monitoring innovation.

“As forward-thinking health systems like Northwell Health take an enterprise-wide approach to healthcare IT, we can help take the guesswork out of the technology and help them to standardize their systems, with an open, interoperable architecture that can break down barriers to integration and simplify workflow for care providers,” said Jeff DiLullo, chief market leader of Philips North America. “Their new patient monitoring system can help minimize manual tasks, give staff a centralized view of patients, and harness the power of massive amounts of data by using AI to provide actionable clinical insights – all of which are helping them to deliver a better patient and staff experience, lower costs and contribute toward the goal of improving outcomes.”

For further media information, please contact:

Mark Groves
Philips Global Press Office
Tel: +31 631 639 916
Email: mark.groves@philips.com

Silvie Casanova
Philips North America
Tel: + 1 781 879 0692
Email: silvie.casanova@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2022 sales of EUR 17.8 billion and employs approximately 77,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

About Northwell Health
Northwell Health is New York State’s largest health care provider and private employer, with 21 hospitals, about 900 outpatient facilities and more than 12,000 affiliated physicians. We care for over two million people annually in the New York metro area and beyond, thanks to philanthropic support from our communities. Our 83,000 employees – 18,900 nurses and 4,900 employed doctors, including members of Northwell Health Physician Partners – are working to change health care for the better. We’re making breakthroughs in medicine at the Feinstein Institutes for Medical Research. We're training the next generation of medical professionals at the visionary Donald and Barbara Zucker School of Medicine at Hofstra/Northwell and the Hofstra Northwell School of Nursing and Physician Assistant Studies. For information on our more than 100 medical specialties, visit Northwell.edu and follow us @NorthwellHealth on Facebook, Twitter, Instagram and LinkedIn.

Attachment


FAQ

What is the recent agreement between Philips and Northwell Health?

Royal Philips has signed a seven-year agreement with Northwell Health to implement a patient monitoring platform aimed at enhancing patient care and improving outcomes.

How many patients does Northwell Health serve annually?

Northwell Health treats over two million patients each year.

What are the benefits of Philips' patient monitoring platform for Northwell Health?

The platform will standardize monitoring, enhance patient outcomes, and leverage AI for actionable insights, improving overall healthcare delivery.

What role does AI play in the new patient monitoring system from Philips?

AI is utilized to provide actionable clinical insights, which helps healthcare providers make informed decisions for better patient care.

How many employees does Northwell Health have?

Northwell Health employs approximately 83,000 individuals.

KONINKLIJKE PHILIPS N.V.

NYSE:PHG

PHG Rankings

PHG Latest News

PHG Stock Data

25.07B
931.99M
6.87%
0.28%
Medical Devices
Healthcare
Link
United States of America
Amsterdam