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GE Healthcare IT provides clinical and financial IT solutions for hospitals and physicians. GE's health IT products are sold under the Centricity brand and consists of imaging IT solutions, electronic medical records, and financial and operations management solutions. Frost & Sullivan attended the annual GE Centricity LIVE User Conference recently held in Denver this past May. This report presents a review of the conference including GE's take on strategic priorities for the healthcare industry as well as select GE Healthcare IT product highlights.
- GE’s mission and solution development focus is on enabling resource optimization through IT applications and BPO services, part of its “Connecting Productivity to Care” theme seen at HIMSS2014.
- The Centricity portfolio centers on four main categories of integrated care solutions–Enterprise Imaging, Care Delivery Management, Population Health Management,
and Financial Management – all of which work in concert to meet the challenges of healthcare reform.
- The company’s best opportunities going forward will likely be in next-gen Revenue Cycle Management (RCM) solutions that help providers ensure financial viability and navigate increased risk in the transition to value-based reimbursement.
GE Healthcare IT, part of the healthcare division of General Electric (NYSE: GE) provides a range of clinical and financial information technology solutions for hospitals and physicians. GE reported total segment revenue of $147.6 billion for 2013. Revenue for GE’s total healthcare segment, which includes the company’s well-known imaging and diagnostic solutions, was $18.2 billion for 2013, accounting for 12.4 percent of total segment revenue. While GE does not specifically break out its healthcare IT revenue from its broader healthcare industry segment revenue, we estimate GE Healthcare IT revenue for 2013 at $1.7 billion, accounting for 1.2 percent of total segment revenue for the company. (See Exhibit 1). The company’s key IT product categories are sold under the Centricity brand and comprise imaging IT solutions, electronic medical records including acute care and specialty care modules, and a range of solutions used for financial and operations management, including revenue cycle management (RCM), analytics, and medical practice management. Frost & Sullivan attended the annual GE Centricity LIVE User Conference recently held in Denver this past May. The following overview of the meeting offers a look at where GE is focusing its efforts in IT.
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