Ascension leaders discussed several innovations and initiatives at the recent J.P. Morgan Healthcare Conference in San Francisco, as highlighted in a story by trade publication Modern Healthcare.
Modern Healthcare shares information about ways some healthcare systems are leading and adapting to changes in the industry, including greater use of mobile apps, partnerships with retailers, more robust web functionality and business models outside of traditional healthcare, all in the context of increasing consumerism in healthcare.
Healthcare innovators continue to focus on care delivery, Modern Healthcare says, noting how Ascension is undergoing a rebranding of all of its 2,500 sites of care over the coming years. Ascension President and Chief Executive Officer Anthony R. Tersigni, EdD, FACHE, said the rebranding will also make the System’s web presence, including mobile apps, more useful to those Ascension serves.
“We want to use digital tools to build long-term relationships with individuals in communities we serve in order to empower them to improve their health by seamlessly integrating personalized health and wellness into their everyday digital experience and throughout their healthcare journey,” Tony told investors at the conference, per Modern Healthcare.
The story also highlights the success of TriMedx, a biomedical engineering firm that grew out of Ascension Indiana’s St. Vincent and is now an independent business owned by Ascension and TowerBrook Capital Partners.
“TriMedx has lowered Ascension’s operating expenses by 1 percent to 2 percent and its capital expenditures for clinical equipment by about 25 percent, [Ascension Executive Vice President and Chief Financial Officer Anthony] Speranzo said,” according to Modern Healthcare. Thanks to TriMedx, Ascension has experienced a 61 percent increase in the useful life of its clinical equipment, which Tony said means about $400 million in annual savings.
Ascension is also working to offer facilities management services to outside organizations through Medxcel Facilities Management, the publication reports.
In addition, the story mentions Ascension’s intelligent process automation platform Agilify, which it now offers to customers both inside and outside healthcare, as a way the System is generating revenue to support its Mission of caring for all with special attention to people living in poverty and those most vulnerable. Agilify’s process automation provides operational efficiencies, incremental cost savings and higher levels of workforce productivity.
The J.P. Morgan Healthcare Conference is the largest healthcare investment symposium in the industry, bringing together industry leaders, emerging fast-growth companies, innovative technology creators and members of the investment community.
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