GE HealthCare (Nasdaq: GEHC) and Biofourmis have announced during ViVE 2024 in Los Angeles a strategic collaboration aimed at enhancing continuity of care by enabling safe, effective, and accessible care in the home to support the patient journey beyond the hospital setting. The collaboration leverages the combined expertise of two market leaders to scale and deliver innovative care-at-home solutions.
Hospital systems are experiencing increased cost of care due to workforce shortages, constrained bed capacity and increasing readmission rates.i,ii Care-at-home programs, which typically include a virtual component, have proven to be effective in decreasing the length of stay and readmission rates which can result in the overall cost of care being reduced.iii,iv Additionally, care-at-home programs can also support patient recovery and safety, with a potential reduction in fall risk and hospital acquired infections.v Patients using remote solutions in their homes are three times more likely to be satisfied with the overall care experience.vi
The goal of the GE HealthCare-Biofourmis collaboration is to enable more patients to go home earlier, and offer an alternative to facility-based care with the comfort and peace of mind that they are receiving high quality care at home with the intent of driving healthy behaviors in patients by managing them remotely. Moreover, insights from Biofourmis’ FDA-cleared, AI-guided algorithms can help care teams deliver efficient, personalized care at home.
“Biofourmis’ demonstrated success with care-at-home solutions will extend GE HealthCare’s current inpatient monitoring portfolio to support patient care from the hospital to home,” said Ashutosh Banerjee, GE HealthCare. “Combining our companies’ demonstrated capabilities will help revolutionize the way we approach the patient care journey as well as help address current challenges faced by health systems including hospital capacity issues and clinical staffing shortages.”
Biofourmis offers care-at-home solutions to deliver and enable care both virtually and in person using its digital platform, with FDA-cleared AI-guided algorithms, clinical-grade wearable devices, in-home services orchestration technology, and nursing services. The solutions provide numerous dynamic care pathways with questionnaire-branching logic to provide enhanced clinical context for care teams.
GE HealthCare’s FlexAcuity™ monitoring solutions in combination with GE HealthCare’s virtual care solutions like Mural ICU, Command Center and Digital CMU adapt to rapidly changing patient needs in the hospital and are built on a legacy of innovation. By offering Biofourmis’ virtual care-at-home solutions to customers, GE HealthCare can extend the care continuum beyond the hospital, and care teams can have a longitudinal patient view beyond the hospital setting.
Ross Armstrong, General Manager of Biofourmis Care, said: “Our collaboration will enable health systems and hospitals to leverage the power of technology and data in order to shape patient-focused solutions across the care continuum, no matter where the site of care is.”
GE HealthCare will begin distributing Biofourmis solutions to customers in the United States starting Q1 2024.
About Biofourmis
Biofourmis delivers technology-enabled solutions that bring the right care to any person anywhere. Biofourmis’ innovative solutions provide people everywhere with connected access to hospital-level services, virtual provider networks for remote care, in-home services, and life-changing clinical trials—all without leaving their homes. The company’s FDA-cleared AI-enabled analytics collect and analyze patient data in real time and identify shifts that can assist in supporting proactive interventions. Trusted by leading health systems, payers, biopharma companies and patients alike, Biofourmis’ connected platform improves patient outcomes, prevents hospital readmissions, aims to accelerate drug development, and closes critical gaps in care—ultimately making science smarter, healthcare simpler, and patients healthier. Biofourmis is a global technology company enabling care delivery, with headquarters in Boston and offices in Singapore and India.
About GE HealthCare Technologies Inc.
GE HealthCare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier. Serving patients and providers for more than 100 years, GE HealthCare is advancing personalized, connected, and compassionate care, while simplifying the patient’s journey across the care pathway. Together our Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics businesses help improve patient care from diagnosis, to therapy, to monitoring. We are a $19.6 billion business with 51,000 colleagues working to create a world where healthcare has no limits.
i Fleron, A., Krishna, A., & Singhal, S. (2022, September 19). The gathering storm: The transformative impact of inflation on the healthcare sector. McKinsey & Company. https://www.mckinsey.com/industries/healthcare/our-insights/the-gathering-storm-the-transformative-impact-of-inflation-on-the-healthcare-sector
ii Massive Growth in Expenses and Rising Inflation Fuel Continued Financial Challenges for America’s Hospitals and Health Systems. American Hospital Association. (2022, April). https://www.aha.org/system/files/media/file/2022/04/2022-Hospital-Expenses-Increase-Report-Final-Final.pdf
iii Levine DM, Ouchi K, Blanchfield B, Saenz A, Burke K, Paz M,Diamond K, Pu CT, Schnipper JL. Hospital-Level Care at Home for Acutely Ill Adults: A Randomized Controlled Trial. Ann Intern Med. 2020 Jan21;172(2):77-85. doi: 10.7326/M19-0600. Epub 2019 Dec 17. PMID: 31842232.
iv Leff B, Burton L, Mader SL, Naughton B, Burl J, Inouye SK, Greenough WB 3rd, Guido S, Langston C, Frick KD, Steinwachs D, Burton JR. Hospital at home: feasibility and outcomes of a program to provide hospital-level care at home for acutely ill older patients. Ann Intern Med.2005 Dec 6;143(11):798-808. doi: 10.7326/0003-4819-143-11-200512060-00008. PMID: 16330791.
v Telehealth: Helping hospitals deliver cost-effective care.American Hospital Association. (2016, April 22). https://www.aha.org/system/files/content/16/16telehealthissuebrief.pdf
vi Leff B, Burton L, Mader S, Naughton B, Burl J, Clark R, Greenough WB 3rd, Guido S, Steinwachs D, Burton JR. Satisfaction with hospital at home care. J Am Geriatr Soc. 2006 Sep;54(9):1355-63. doi:10.1111/j.1532-5415.2006.00855.x. PMID: 16970642.
