Healthymagination at GE (General Electric ) Essay

Healthymagination at GE (General Electric ) - Essay Example Additionally, these quantitative measures and site certification is audited by GE’s audit staff and is obligatory for campuses with in excess of 100 employees. As the company grows, its goal is to reach every employee in spite of site size. The introduction of Electronic medical records came with the potential to revolutionize healthcare by calculating administrative costs through superior effectiveness, improved correctness and broader admission to the latest clinical data (Glader, 2009). With these features the workflow is streamlined, it allow doctors to share information steadily, GE’s Centricity EMR brings the newest technology to bear on the test of managing several patient records around the globe. What makes GE to act this way is its commitment to patient-centered innovation that focuses on safety, clinical solutions as well as a customized environment for even the youngest patients. 2 GE is more diversified compared to the past. The creation of the GE healthyma gination Fund shows GE’s commitment to improvement in healthcare as a means to promoting the objectives of visibly increasing access to healthcare at the same time improving the quality along with reducing the delivery cost (McGregor, 2009). The company also gives support to the development of companies with inventive technologies as well as business models that share in the broader healthymagination goals. A s a way to further diversify the company, it additionally on receiving growth capital in addition to expertise in investment, the fund’s investment partners have the opportunity to cooperatively work with a global leader in healthcare technology in areas with mutual interest, which includes technology development and global distribution What led the company to diversification was to combat the crisis of healthcare access. Healthymagination has a goal to offer Better Health for additional People around the world. While focusing on technologies that are simpler, eas ier-to-use and more portable devices, those who lack sufficient healthcare right now, may for the very first time get access to an adequate diagnosis, an opportunity at surgery, or the ways to save the child’s life (Glader, 2010). When we specifically focus on anesthesia equipment, GE committed a center team that focused on anesthesia products to work together with international hospitals Anesthesiologists for research along with development for use of GE ICU/anesthesia products geared to low-income countries. This has led the company to knowing its market and its business significantly better than any time in history. The company has put in place financial models and levers that it uses to drive our performance. It also has clear strategies with plans of action for all of it divisions. It also engages in investing in its people and has specific plans to increase accountable leaders that will drive change (Mark, 2008). 3 In 2009, General Electric publicized that in the next s ix years it would spend $3 billion in creating at least 100 health-care innovations that were intended to substantially lower costs, increase accessibility, and along with improve quality (Scott and Corporate Environmental Data Clearinghouse, 1992). The company highlighted two products at the time; a $1,000 electrocardiogram device and a PC-based ultrasound machine that