“Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that the U.S. Department of Veterans Affairs (VA) has awarded a contract to Philips to expand VA’s Tele-Critical Care program, creating the world’s largest system to provide veterans remote access to intensive care expertise, regardless of their location. The ten-year contract, which enables VA to invest up to $100 million with Philips for Tele-Critical Care technology and services, leverages Philips history of innovation, including research into technologies that can better support veterans, telehealth, tele-critical care (eICU), diagnostic imaging, sleep solutions and patient monitoring.”
“VA is the largest integrated healthcare system in the U.S., consisting of more than 1,700 sites and serving nearly nine million veterans each year. It has become a leader in developing telehealth services in order to improve access to care and federate care delivery. In fiscal year 2019 alone, VA delivered more than 2.5 million telehealth episodes. Additionally, VA was able to expand video to home appointments from approximately 10,000 to 120,000 per week between February and May of 2020 during the COVID-19 pandemic. Overall, the pandemic has increased the share of Americans participating in telehealth from 11% in 2019 to 46% today, with healthcare systems reporting a 50 to 175-fold increase in telehealth volume compared to pre-pandemic levels…” Read the full press release here.
Source: VA Selects Philips to Create World’s Largest Tele-Critical Care System, Further Integrating TeleHealth and Delivering Quality Care for Veterans – July 8, 2020. Philips.