Write an essay on GE Healthcare organization?
Healthcare sector is the most integral part of the human lives. It is the diagnosis, treatment and prevention of ailments, injuries, diseases and other physical and even mental disorders. (Tulchinsky & Varavikova, n.d.) The delivery of proper healthcare is ensured by the registered practitioners in associated health, medicine, pharmacy, psychology, dentistry, obstetrics and other professions in the healthcare sector. The accessibility of the healthcare service depends upon the regions, countries, groups and individuals which are also influenced by the social and economic conditions and also the different health policies of the different countries. In this regard, the healthcare organizations play an important role in meeting the health needs of the individuals who are unwell. The project is based on the assessment of the GE Healthcare which is the subsidiary of General Electric (GE).
GE healthcare is headquartered in United Kingdom which is the subsidiary of the General Electric. The main role of the GE Healthcare is to deliver patient care with transformational medical services to the people all around the world. Apart from the basic medical services, it also provides informational technologies, diagnostics, monitoring system of the patients, discovery of the drugs, manufacturing technologies of biopharmaceuticals and performance solution services. GE healthcare is considered to be the first of the business segment of the General Electric to have headquartered outside of the United States. It is previously known as the GE Medical Systems before the acquisition of Amersham plc. It was then renamed as the GE Healthcare. (Ge.com, 2015)
There are five core functions of the GE Healthcare which are discussed below:
The GE healthcare also has the provision of Industrial Internet which fosters enabling technologies and services which improves the healthcare service to the patients on a worldwide basis. (Www3.gehealthcare.com, 2015) In this regard, GE healthcare has a Centricity 360 Case Exchange which is a cloud-based application. There is clinical collaboration with the unaffiliated clinicians and patients by the distribution of patient images across geographical distance. This technology enabled swift conferring of patient cases, easy access of reports and images of patients in order to make rapid diagnosis and planning of treatments. Recently there has been a new joint venture between the Microsoft and the GE Healthcare in the healthcare IT industry through the Microsoft HealthVault which is a cloud-based service. This will improve the quality of the healthcare service and the experience of the patients. (Healthdesign.org, 2015)
The former CEO and the GE Healthcare IT President, Jan De Witte highlighted in his speech the five important challenges and business problems that are within the healthcare sector. Some of them are discussed below:
Goal- Resolving the different business and healthcare problems in order to improve the lives of the people.
Results and follow up- Meetings were held between the administrators in order to incorporate technologies and improve the existing IT solutions so that the service delivery is eased out and effective and efficient.
Good Practice- Integration and Information on Radiology which ensure advanced imaging of the body maintaining efficiency and accuracy of the physician. Advanced technologies that will improve radiation oncology include Computed Tomography (CT), Magnetic Resonance, and Positron Emission Tomography to analyze the critical issues in clinical and technological aspect. (Www3.gehealthcare.com, 2015)
The paper on Evidence Based Healthcare Design in 2008 was formulated the survey on the evidence based healthcare design which augments the improved infrastructure and safety measure within the healthcare sector. The results of the survey recommended improving the design characteristics like incorporating single bedrooms, proper ventilation system, good environment, improved ergonomic design and other settings.
Healthcare organization impact the sector significantly as it provides information about the management, manages cost, smooth the progress of quality management and improvement programs and thereby restores the quality of the lives of the patients. Technological progress in the form of information system is an important aspect of improving the healthcare organization. The impact of the organizational culture is important for the effective health service delivery using evaluation strategy that will improve the work lives of the employees. The better organization implies that there is enough coordination among the employees to improve the service delivery.
The problems and the challenges that are discussed are crucial to the healthcare sector and to the GE Healthcare. In terms of consumerization the patients are diverting to such healthcare organizations where the cost of the service is low and inexpensive foregoing their health status. Now, patients are the most integral part of the healthcare business and the decrease in the patients implies that the operating cost will outpace the revenue, thereby affecting the overall profit and the business confidence of the GE Healthcare. Also the problem of scarce doctors, physicians and the primary care providers has posed as a problem. The aging population and their insurance coverage are expanding at a faster pace than the expansion in the labour pool. Thus, the problem will be severe to the GE healthcare. (The Official Microsoft Blog, 2011)
Potential Solutions:
The major problem is that the patients are seeking for inexpensive health services. So, the GE Healthcare must incorporate innovations to attract patients. The innovations must ensure that the technologies improve the quality of the lives of the patients. In this regard the GE Healthcare must introduce:
GE Healthcare had initiated programs and strategies to resolve different issues which are:
Innovation of the marketing strategy was adopted by GE Healthcare by developing Experienced Commercial Leadership Program and had introduced Case Exchange that help to improve the service delivery of the healthcare to the patients. (Moorman, 2013) In this regard, the limitations to these implementations proved to be detrimental to the GE Healthcare because the innovation marketing strategy enables the organization incur high cost which raised the price of the healthcare service driving away the potential patients. The patients are making conscious decisions regarding the healthcare choices taking their budget into consideration. (Forum, 2013)
The main aim for the GE Healthcare is to reduce the cost of the organization in order to extract the maximum profit. So it is recommended to the GE Healthcare to incorporate a new novel approach to reduce cost which is the bundled payments. This is the phenomenon where the patients are able to pay a single fee for the series of services he will receive. In providing such discounts to the patients the organization must they themselves introduce cost effective technologies that will reduce the operating cost of the organization through which they would be able to transfer it to the patients by offering them bundled payments. This will serve the dual purpose of the incentive to install cost effective innovation that will improve the GE Healthcare service as well as will attract patients who will find the concept of bundled payments appropriate for their pocket as there will be no surprise cost. On the other hand, the role and the target of the HR should be doubled in order to hire more doctors, physicians and primary care providers so that there is no future shortage. (Lorenzetti, 2015)
The different cost effective technologies as listed above would prove to drive down the cost of the company. This will enable them to acquire higher profits. Through this strategy the healthcare providers can pass on the benefits to the patients by incorporating bundled payments which will attract more patients. On the other hand, the hiring of the doctors will have a sufficient supply of the physicians and doctors to cater to the growing aging population. (referralMD | Medical and Dental Referral Network Management, 2013)
Application of learning:
For the learning outcomes will be achieved by incorporating some learning activities. In this case, the application of the learning will be assessed through a survey with the potential patients, existing patients and the patients who have completed their treatments. Also the finance department is another crucial respondent in the analysis who will give the information regarding the cost and profit structure of the organization after the incorporation of the strategies.
The project on the GE Healthcare organization is important in analyzing the problems related to the cost structure, health outcomes and the infrastructure of the healthcare units. The project identified the problems of the sector with the recommendation of solutions to the problem to which the intended effects are discussed that will help to analyze the effectiveness of the different strategies.
The healthcare sector is the most important for the human survival which must be improved continuously for the better delivery of the health services. In this regard, the situation of the GE Healthcare is evaluated. The major problem that it faces is the high cost which is hindrance in the service delivery. The recommendation of bundled payments in this context is a suitable suggestion that will prove to increase the patient number. Also the incorporation of the different cost effective technologies will prove to be beneficial for the organization that would be able yield higher revenue and lower the cost.
Conclusion:
This project deals in the healthcare sector in the US and the focus of the study is the GE Healthcare. The problems of the sector are identified and potential solutions are recommended that will yield beneficial results. The bundled payment is the key to the solutions which will help to attract more patients and increase the revenue of the organization and the cost will be lowered by introducing some of the cost effective technologies that will improve the quality of the health service.
References
Anderson, J., & Aydin, C. (2005). Evaluating the organizational impact of healthcare information systems. New York, NY: Springer.
Forum, S. (2013). How GE Healthcare Is Solving The World’s Most Complex Rural Health Challenges.Forbes. Retrieved 6 June 2015, from https://www.forbes.com/sites/skollworldforum/2013/08/09/how-ge-healthcare-is-solving-the-worlds-most-complex-rural-health-challenges/
Ge.com,. (2015). GE Healthcare. Retrieved 6 June 2015, from https://www.ge.com/news/company-information/ge-healthcare
Gehealthcarefinnamore.com,. (2015). Quality Assurance. Retrieved 6 June 2015, from https://www.gehealthcarefinnamore.com/about-us-3/quality-assurance.html
Healthdesign.org,. (2015). Review of the Research Literature on Evidence-Based Healthcare Design | The Center for Health Design. Retrieved 6 June 2015, from https://www.healthdesign.org/chd/research/review-research-literature-evidence-based-healthcare-design
Khoumbati, K. (2010). Handbook of research on advances in health informatics and electronic healthcare applications. Hershey PA: Medical Information Science Reference.
Lorenzetti, L. (2015). 5 trends that will redefine your healthcare experience in 2015. Fortune. Retrieved 6 June 2015, from https://fortune.com/2015/01/14/5-trends-that-will-redefine-your-healthcare-experience-in-2015/
Moorman, C. (2013). Marketing in a Technology Company: GE’s Organizational Platform for Innovation. Forbes. Retrieved 6 June 2015, from https://www.forbes.com/sites/christinemoorman/2013/01/29/marketing-in-a-technology-company-ges-organizational-platform-for-innovation/
referralMD | Medical and Dental Referral Network Management,. (2013). 7 Biggest Innovations in Health Care Technology | referralMD. Retrieved 6 June 2015, from https://getreferralmd.com/2013/11/health-care-technology-innovations-2013-infographic/
Steinman, J. (2014). The Top 5 Challenges facing Healthcare Execs Today | GE Health IT Views. Ge-health-it-views.com. Retrieved 6 June 2015, from https://www.ge-health-it-views.com/ge-health-it-views/the-top-5-challenges-facing-healthcare-execs-today/
The Official Microsoft Blog,. (2011). Microsoft and GE Healthcare to Create New Joint Venture to Enable Better Population Health Management – The Official Microsoft Blog. Retrieved 6 June 2015, from https://blogs.microsoft.com/blog/2011/12/07/microsoft-and-ge-healthcare-to-create-new-joint-venture-to-enable-better-population-health-management/
Tulchinsky, T., & Varavikova, E. The new public health.
Vermaat, M., Sebok, S., Freund, S., Campbell, J., & Frydenberg, M. Discovering computers 2016.
WIRE, B. (2013). GE Healthcare Survey Reveals Many Healthcare Organizations Not Prepared for Capacity Management Challenges | Business Wire. Businesswire.com. Retrieved 6 June 2015, from https://www.businesswire.com/news/home/20130305005483/en/GE-Healthcare-Survey-Reveals-Healthcare-Organizations-Prepared#.VXJtcc-qqko
WIRE, B. (2013). GE Healthcare Survey Reveals Many Healthcare Organizations Not Prepared for Capacity Management Challenges | Business Wire. Businesswire.com. Retrieved 6 June 2015, from https://www.businesswire.com/news/home/20130305005483/en/GE-Healthcare-Survey-Reveals-Healthcare-Organizations-Prepared#.VXJtcc-qqko
Www3.gehealthcare.com,. (2015). About Us – gehealthcare.com. Retrieved 6 June 2015, from https://www3.gehealthcare.com/en/about_us
Www3.gehealthcare.com,. (2015). Industry Knowledge Center | GE Healthcare IT – gehealthcare.com. Retrieved 6 June 2015, from https://www3.gehealthcare.com/en/Products/Categories/Healthcare_IT/Industry_Knowledge_Center
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