Global healthcare major, GE Healthcare on Tuesday said the company is planning to invest $2 billion over the next five years to accelerate the development of innovative software for healthcare systems and applications.
The company said, this investment is designed to advance current and future offerings in order to address new and pressing operational and productivity challenges faced by healthcare organizations around the world. GE Healthcare will work closely with the GE Software Center of Excellence in San Ramon, California, and other R&D hubs around the world to develop new software solutions.
“GE is investing in software and analytics to better help our customers manage the operational complexity of the healthcare system,” said John Dineen, President & CEO, GE Healthcare. “These new software solutions will look to connect caregivers in a meaningful way to the systems upon which they rely, enabling them to deliver better-informed diagnoses and improved care,” he added.
GE Healthcare has a long history in software with its Healthcare IT business and has got a Centre of Excellence in India. As the largest software developer within GE, GE Healthcare provides a wide range of medical imaging technologies, IT services, patient monitoring and diagnostic solutions, biopharmaceutical manufacturing technologies and operational and technological service solutions. The company also said the $2 billion investment will be focused on maximizing asset performance; improving hospital operations management; improving clinical effectiveness; and optimizing care across entire populations.
The company said the key focus areas would include caring for more patients as a result of scheduling efficiencies, proactive asset management, clinical decision support and financial gains that allow for expansion, reducing costs by optimizing workflow in care delivery, minimizing payment cycles, maximizing reimbursement rates and eliminating unnecessary waste, minimizing rework and redundancies by enhancing collaboration and making patient information universally accessible.