Philips 2015 Annual Report Download - page 47

Sector performance 6.1
Annual Report 2015 47
6.1 Healthcare
“ By leveraging our world-class innovation capability, deep
clinical and consumer insights, long-standing customer
relationships with healthcare providers, and our integrated
solutions portfolio, we provide greater value while helping
lower the cost of care across the health continuum.”
Frans van Houten, CEO Royal Philips
• We are gaining momentum in delivering large-scale
end-to-end healthcare solutions globally with
clients like Westchester Medical Center (USA),
Mackenzie Health (Canada) and the Kenyan Ministry
of Health.
• Our Accelerate! program continues to drive
improvements in healthcare, resulting in enhanced
customer centricity and service levels, faster time-to-
market for our innovations, strengthened quality and
compliance systems, and better cost productivity. We
increased our investments in, among others,
healthcare informatics, personal health solutions and
our quality systems. We also strengthened our ability
to oer integrated solutions in the growing image-
guided therapy market through the acquisition of
Volcano.
• We continue to expand the capabilities of Philips’
HealthSuite digital platform, which enables
connected health propositions to improve the
delivery of care at lower cost, which allow us to build
recurring revenue streams.
6.1.1 Healthcare landscape
Healthcare systems around the world are under
increasing economic pressure. More people are living
longer, and more are living with chronic conditions –
driving healthcare spending to unsustainable levels.
Shortages of healthcare professionals are also adding
to the relentless challenge of delivering better care at
lower cost to growing patient populations.
Fundamental transformative changes are already taking
place in the healthcare industry to enable the provision
of affordable, quality care to those who need it. A shift is
under way towards value-based healthcare, which places
greater emphasis on results, driving the reduction of waste
and inefficiency, increasing access and improving
outcomes, while at the same time reducing costs.
Consumers are becoming increasingly engaged in
managing their own health, with greater attention being
focused on the benets of healthy living and home care.
Mobile and digital technologies are signicant enablers
of this trend, leading to new care delivery models –