Philips Virtual Care Management offers a comprehensive approach to telehealth for patients, providers and payers

Rhea-AI Summary

On March 27, 2023, Royal Philips (NYSE: PHG) launched Philips Virtual Care Management, a new solution designed to enhance patient engagement and health outcomes while reducing healthcare costs. This comprehensive program aims to better manage chronic diseases such as diabetes and hypertension, leveraging connected devices and engagement tools on a secure platform. Key results include a 38% reduction in emergency department visits and potential annual savings of $3,086 per patient. Philips will showcase this program at ViVE 2023 on March 28. Note that the Virtual Care Management solution is currently available only in the USA.

Positive

• 38% average reduction in emergency department visits reported.
• Average HbA1c reduction of 3.06% in diabetic patients.
• Potential annual savings of $3,086 per patient.

Negative

• None.

March 27, 2023

New solution demonstrates proven results in improving patient engagement, health outcomes, and lowering cost of care while enabling workflow efficiencies

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the debut of Philips Virtual Care Management, a comprehensive portfolio of flexible solutions and services to help health systems, providers, payers and employer groups more meaningfully motivate and deeply connect with patients from virtually anywhere. Philips Virtual Care Management can help reduce pressure on hospital staff by decreasing emergency department visits, as well as reducing the cost of care through better management of chronic disease [1][2].

Every year, chronic condition management represents 90% of healthcare expenditures in the USA [3]. Philips Virtual Care Management’s condition-specific protocols now include diabetes, hypertension, heart disease, chronic kidney disease, chronic obstructive pulmonary disease (COPD), as well as gestational programs for diabetes and hypertension. These protocols combine with connected devices and engagement tools on a secure, interoperable cloud-based platform to deliver rich data and actionable insights that enable timely intervention and workflow efficiencies. Licensed clinical professionals offer monitoring and personalized health coaching; and Philips’ expert-led professional services round out the all-inclusive offering to help customers plan, customize, implement, activate and sustain each program.

“Virtual care is paving the way to meaningfully reduce the cost of care through fewer hospitalizations and emergency department visits,” said Nick Wilson, General Manager, Ambulatory Virtual Care at Philips. “Care providers and health systems today are often short on time and resources, accelerating the need to find new ways to gain visibility into patients’ health amid an overwhelming variety of options. For patients, the opportunity to understand and take proactive control of their health can potentially lead to improved outcomes.”

Proven results
Philips’ advanced virtual care program goes beyond traditional remote patient management with scalable solutions and services that help to foster strong patient engagement, empower healthier behaviors, expand access to care, improve outcomes, and lower healthcare costs. Recent studies using Philips Virtual Care Management products and services demonstrated impressive results:

• Patients saw a 38% average reduction in emergency department visits [1][2]
• Patients experienced an average HbA1c, or blood glucose, reduction of 3.06% [1][4]
• Results suggest potential savings of USD 3,086 annual claims per patient or member [1][2]
• Results suggest fewer 30- and 90-day hospitalizations compared to usual care [1][5]

A comprehensive program with a flexible fit
The highly configurable Philips Virtual Care Management solution offers health systems, providers, payers and employer groups the unique ability to customize their program in a way that shapes and scales with their evolving needs. Philips’ legacy of clinical expertise brings a clearly defined, comprehensive approach to an otherwise fragmented virtual care market by working alongside customers to help them centralize and customize their Philips Virtual Care Management program, optimize workflow and improve outcomes.

On Tuesday, March 28 at 12:00 CT, Nick Wilson will showcase Philips Virtual Care Management on the Tech Talks stage at ViVE 2023 in Nashville during a brief session entitled “Unlock the power of human-centered care, virtually anywhere.” To learn more about Philips’ extensive portfolio of ambulatory virtual care solutions, visit Philips booth #1404 at ViVE or philips.com/virtualcaremanagement.

Philips Virtual Care Management is not currently available outside the USA.

[1] Magee MF, Baker KM, Fernandez SJ, et al. Redesigning ambulatory care management for uncontrolled type 2 diabetes: a prospective cohort study of the impact of a Boot Camp model on outcomes. BMJ Open Diabetes Res Care. 2019;7(1):e000731. Published 2019 Nov 13. doi:10.1136/bmjdrc-2019-000731.
[2] A Diabetes Care Management Program for uncontrolled type 2 diabetes in a predominantly African American population amortized over the study cohort due to reduced risk of all factors hospitalization after 90 days compared to usual care.
[3] Remote patient monitoring system market size, share and trends analysis report by product (vital sign monitors, specialized monitors), by end use, by application, and segment forecasts, 2022-2030. Grand View Research. Accessed November 16, 2022. https://www.grandviewresearch.com/industry-analysis/remote-patient-monitoring-devices-market.
[4] Following a 90-day diabetes care management program in 366 subjects with type 2 diabetes, average baseline HbA1c: 11.2%.
[5] 30 day incidence risk ratio = Intervention (0.21, 95%CI 0.07 to 0.60; p=0.003) vs control (1.14, 95%CI 0.47 to 2.75; p=0.77); between group (p=0.02). 90 day IIR = intervention (0.23, 95%CI 0.11 to 0.50, p<0.001) vs. control (1.58, 95%CI 0.750 to 3.33; p=0.23); between group (P<0.001).

For further information, please contact:

Meredith Amoroso
Philips Global Press Office
Tel.: +1 724 584 8991
E-mail: meredith.amoroso@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.

Attachments

• A man takes a blood glucose reading at home
• Philips Virtual Care Management

FAQ

What is Philips Virtual Care Management and its purpose?

Philips Virtual Care Management is a solution launched by Royal Philips to improve patient engagement and health outcomes, while reducing healthcare costs.

When was Philips Virtual Care Management announced?

Philips Virtual Care Management was announced on March 27, 2023.

What are the key benefits of Philips Virtual Care Management?

Key benefits include a 38% reduction in emergency department visits and average savings of $3,086 per patient per year.

Where is Philips Virtual Care Management currently available?

Philips Virtual Care Management is currently available only in the USA.

When will Philips showcase its Virtual Care Management solution?

Philips will showcase the solution on March 28, 2023, at ViVE 2023.