Royal Phillips Electronics
) and Salesforce.com have joined forces to deliver an open
cloud-based healthcare platform to facilitate collaborative care
management between patients and healthcare professionals. The
platform aims at maintaining patient relationship whereby medical
practitioners will be able to work closely with patients to ensure
the best treatment. The platform will also assist medical device
and data interoperability - the collection of data and subsequent
analysis to help professionals take effective clinical decisions
and enable patients to assume a more active role in managing their
Healthcare organizations are increasingly facing the need to
provide more cost-efficient, patient-centric outcomes. The cost
dynamics of the healthcare industry are gradually shifting,
mobilized by rising incidence of chronic illnesses, infectious
diseases and increasing life expectancy. These cumulative factors
also indicate an urgent need for improved perception of underlying
In order to facilitate smooth operations, healthcare
organizations regularly process vast data in different forms. Thus,
this strategic alliance will create a platform that will utilize
Philips' clinical data stores and medical device interoperability.
This collaboration will be open to developers and is expected to
result in a vibrant ecosystem of partners working on innovative
applications. As a result, the novel platform has the potential to
transform both professional healthcare delivery and personal health
management at the same time.
Notably, Philips eCareCoordinator and Philips eCareCompanion are
two clinical applications presently operating under the alliance.
These applications enable care teams to observe patients with
chronic conditions at their homes and also aid Home clinical
programs, such as Banner iCare. The Banner iCare program is
being initiated at Banner Health, a pioneer accountable care
organization in Arizona. According to the Multicenter Study of ICU
Telemedicine Reengineering of Adult Critical Care, similar
telehealth-based care delivery models for hospitals utilizing the
Philips eICU program were shown to lessen mortality by 26% and
length of stay by 20%.
Considering the afore-mentioned positives, this innovative
platform is believed to cover the entire continuum of care: from
self-care and prevention, to diagnosis and treatment through final
recovery and overall wellness. Based on the Salesforce1 Platform,
this platform will facilitate collaboration and workflow, as well
as integration of data from multiple sources, including electronic
medical records, diagnostic and treatment information obtained
through Philips' imaging equipment, monitoring equipment, personal
devices and technologies like Apple's HealthKit. Further, this
platform boasts high scalability along with built-in privacy and
Separately, Phillips recently unveiled NeuroSuite, a novel X-ray
system which is expected to assist minimally invasive neurological
surgeries. The X-ray solution will provide effective device
placement in live image-guided neuroradiology procedures, thereby
extending treatment options.
Phillips is a leading consumer electronics company with its
Healthcare division accounting for about 43% of its total revenue
in fiscal 2013. The company's Healthcare segment is the third
largest manufacturer of medical diagnostic equipment, which
includes X-ray, ultrasound, magnetic resonance, medical information
technology (IT), nuclear medicine, patient monitoring, information
management and resuscitation products, as well as a comprehensive
range of services.
Phillips currently has a Zacks Rank #3 (Hold). Some
better-ranked stocks in the sector include
Universal Electronics Inc
). While Universal Electronics sports a Zacks Rank #1 (Strong Buy),
Garmin and GigOptix carry a Zacks Rank #2 (Buy).
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