March 11, 2021
Organizations to develop roadmap for hospitals, health systems and practices to improve clinical, financial and operational performance while transforming patient care
Amsterdam, the Netherlands and Washington, D.C., U.S. – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, the American College of Cardiology (ACC), whose mission is to transform cardiovascular care and improve heart health, and MedAxiom, an ACC company with the same mission, today announced a collaboration to deliver timely and actionable information along with guidance to align physicians, operations and finance stakeholders. The goal of the collaboration is to drive significant performance improvements in integrated cardiovascular care in terms of the patient and care provider experience, clinical outcomes and productivity.
Cardiovascular disease is the leading cause of death globally, taking an estimated 17.9 million lives per year . In the United States alone, total costs of cardiovascular disease are expected to reach $1.1 trillion in 2035, of which direct medical costs are projected to reach $749 billion . Providers who care for this population face numerous challenges, including a lack of a model for optimizing performance and a void of data or data that are not actionable. To address these challenges, Philips will leverage its cardiovascular R&D and clinical expertise, ACC will provide knowledge that leverages the skill and expertise of more than 54,000 members, and MedAxiom will contribute premier organizational performance solutions.
“The ACC is mission driven to transform cardiovascular care and improve heart health, and we embrace innovative ways of supporting clinicians and the entire cardiovascular care team,” said Cathleen C. Gates, chief executive officer, ACC. “By combining Philips’ depth of knowledge in cardiac care delivery with ACC’s robust guideline and clinical document offerings, we’re ensuring clinicians have access to guideline-driven best practices in an impactful way.”
“MedAxiom is excited to collaborate with the ACC and Philips to bring together clinical leadership and strategic alignment aimed at improving clinical, financial and operational outcomes for cardiovascular service providers,” said Gerald Blackwell, MD, MBA, FACC, president and chief executive officer, MedAxiom. “Given the rapidly changing healthcare environment, we must leverage innovative models designed not only to optimize the way care is delivered and achieve the Quadruple Aim, but to truly transform cardiovascular care.”
“As the delivery of cardiac care faces many challenges, we are implementing integrated solutions and new approaches to help make healthcare delivery more efficient and effective,” said Bert van Meurs, Executive Vice President and Chief Business Leader of Image Guided Therapy at Royal Philips. “By collaborating with ACC and MedAxiom we will advance personalized, efficient and clinically-smart cardiac care that drives optimal outcomes throughout the patient journey.”
Philips Integrated Cardiovascular Solutions – combining systems, devices, informatics and services – provide the clinical confidence needed to deliver the right care at the right time. This powerful ecosystem cuts across the full spectrum of cardiac services with the goal of optimizing length of stay while reducing readmissions, providing data integration for improved insights and procedural performance. Learnings from this work alongside those provided by the ACC and MedAxiom will empower cardiovascular service providers with data, education and services to enable providers to optimize efficiency and reduce total cost of care, while continuing to provide the highest quality levels.
Breaking down silos; driving care transformation
Built on a foundation of aligned purpose, strategic fit and complementary visions, collaboration between the organizations to bring forward longitudinal solutions and next-generation business models in cardiovascular care has already begun. Philips, the ACC and MedAxiom have identified inadequacies exposed by COVID-19 and have used this knowledge to help cardiovascular groups begin to reframe their cardiovascular care delivery. Supporting this innovation is the TRIAD Model, which since the fall of 2020 has brought together physician, healthcare administrator and industry leaders to innovate the delivery of cardiovascular care through shared accountability and shared risk. A podcast series with insights from participants in the initiative is available here.
For further information, please contact:
Philips Global Press Office
Tel.: +31 631 639 916
Philips North America
Tel: +1 781-690-3814
For ACC and MedAxiom:
Tel: +1 202 375 6523
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 19.5 billion and employs approximately 82,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
MedAxiom, an ACC Company, is the cardiovascular community’s premier source for organizational performance solutions. MedAxiom is transforming cardiovascular care by combining the knowledge and power of 425+ cardiovascular organization members, thousands of administrators, clinicians and coders and 35+ industry partners. Through the delivery of proprietary tools, smart data and proven strategies, MedAxiom helps cardiovascular organizations achieve the Quadruple Aim of better outcomes, lower costs, improved patient experience and improved clinician experience. For additional information, visit www.MedAxiom.com.
The American College of Cardiology (ACC) envisions a world where innovation and knowledge optimize cardiovascular care and outcomes. As the professional home for the entire cardiovascular care team, the mission of the College and its 54,000 members is to transform cardiovascular care and to improve heart health. The ACC bestows credentials upon cardiovascular professionals who meet stringent qualifications and leads in the formation of health policy, standards and guidelines. The College also provides professional medical education, disseminates cardiovascular research through its world-renowned JACC Journals, operates national registries to measure and improve care, and offers cardiovascular accreditation to hospitals and institutions. For more, visit acc.org.