GE Healthcare and Jefferson Health Launch Multi-Year Risk-Sharing Relationship Targeting $1 Billion in
Efficiencies
Goal to integrate and optimize healthcare delivery for patients; providing smarter and more affordable
world-class care
GE Healthcare and Jefferson Health have announced an eight-year, shared-risk relationship that will help Jefferson strategically
transform healthcare delivery in the Philadelphia region for the benefit of patients and their families. The goal of this
collaboration is to create a forward-looking, robust health system by removing redundancies and maximizing sourcing efficiencies.
One of only five such long-term relationships in the U.S. and its largest, GE Healthcare and Jefferson have the potential to
generate $500 million to $1 billion in efficiencies with Jefferson that can be directed toward services that best meet patient
needs over the term of this relationship.
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“We have a unique opportunity to become the region’s leader in delivering even greater value to our patients — offering them
high-quality care at a lower cost, wrapped around an exceptional patient care experience — every time,” said Stephen K. Klasko, MD,
MBA, President and CEO of Thomas Jefferson University and Jefferson Health. “With the industry knowledge and global expertise of GE
Healthcare, we will gain significant efficiencies that will enable us to reinvest in initiatives that improve the lives of those we
care for.”
During the course of the relationship, Jefferson Health and GE staff will work side-by-side in areas throughout Abington, Aria,
and Jefferson to acquire a deep understanding of operations and processes. The teams will focus on strategic growth, operations,
integration, and performance improvement opportunities, while leveraging technology to deliver best-in class, seamless care that is
convenient and affordable for the patient.
“With the healthcare industry facing unprecedented levels of patient demand and increasing cost pressures, it’s great to see
health systems like Jefferson seek new and innovative ways to improve better outcomes for patients,” said John Flannery, incoming
CEO and Chairman elect of GE. “This collaboration, which is financially tied to our shared success, demonstrates the confidence we
have to jointly deliver world-class health care for the community.”
Through a shared-risk model that aligns the economic interests of Jefferson Health with GE Healthcare, both organizations have
agreed to critical milestones that must be achieved throughout the eight-year relationship. A portion of GE Healthcare’s fees are
contingent upon the level of success both organizations have in reaching certain integration goals.
“To prepare for the launch of this multi-year relationship, some of GE Healthcare’s senior-most leaders have been onsite,
working closely with us to ensure we’re doing all we can up front to position all of us for long-term success,” said Kathleen
Kinslow, Jefferson Health’s Chief Integration Officer and leader for this comprehensive initiative. “They have become valued
members of our extended team and their level of engagement has been exceptional.”
Nationwide, academic medical centers are facing a growing gap between the cost of their clinical missions and the available
funding that threatens the future of those missions. New approaches to optimize health system performance, including improving the
patient experience and the health of populations at a lower cost, are essential to ensure sustainability. The unique relationship
with GE Healthcare presents an opportunity to proactively address today’s healthcare challenges.
“Together, Jefferson and GE Healthcare are charting a new course by taking the necessary steps today that will help shift the
healthcare paradigm,” said Klasko. “My message is simple. We need to transform our industry, continue to be optimistic about our
future, and embrace disruption, such as consumerism, to effectively change the way we deliver health care in this country.”
About Jefferson
Jefferson, through its academic and clinical entities of Thomas Jefferson University and Jefferson Health, including Abington
Health and Aria Health, is reimagining health care for the greater Philadelphia region and southern New Jersey. Jefferson has
23,000 people dedicated to providing the highest-quality, compassionate clinical care for patients, educating the health
professionals of tomorrow, and discovering new treatments and therapies to define the future of care. With a university and
hospital that date back to 1824, today Jefferson is comprised of six colleges, nine hospitals, 35 outpatient and urgent care
locations, and a multitude of physician practices throughout the region, serving more than 100,000 inpatients, 373,000 emergency
patients and 2.2 million outpatients annually.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced
quality and more affordable healthcare around the world. GE Healthcare (GE) works on things that matter - great people and
technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug
discovery, biopharmaceutical manufacturing technologies and performance improvement solutions GE Healthcare helps medical
professionals deliver great healthcare to their patients.
Gail Benner
Jefferson Health
Media Relations Manager
Gail.Benner@Jefferson.edu
Office: 215-955-2240
Cell: 267-283-8382
or
Jennifer Fox
GE Healthcare
External Affairs
Jennifer.R.Fox@GE.com
Office: 414-721-3813
Cell: 414-530-3027
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