Singapore – Royal Philips (NYSE: PHG, AEX: PHIA) today announced that it is introducing healthcare innovations that will help health systems in Asia to address the growing challenges linked to a fast growing and aging population. Philips’ new Hospital to Home business in Asia Pacific will seek to improve care transitions by offering re-admission management consulting, telehealth solutions for greater care continuity, and a personal health portal to engage patients and their families in their own health. Its headquarters and competence center for the region will be located in Singapore.
“By realizing Hospital to Home solutions that are relevant to the local care ecosystem, we will bridge the hospital and the home for a truly patient-centered care model,” said Frans van Houten, CEO Royal Philips. “In the Asia Pacific region, Singapore is seen as a reference site for its healthcare system and therefore an ideal location to establish the regional headquarters for this new business. Together with the local stakeholders, we will develop patient care models for the region that will enhance patient outcomes beyond hospital.”
Philips is uniquely positioned to facilitate optimal connections among care providers, enabling a shift from the traditional inpatient/outpatient mindset, to a single, quality extended healthcare experience where recovery is shortened and the risk of re-hospitalization is lowered – especially for chronically ill patients. Furthermore, Philips will leverage its expertise in healthcare data analytics to enable predictive and timely interventions, delivering accurate answers at the time of need, and detecting critical issues before they become full-blown emergencies.
Mr. Leo Yip, Chairman of the Singapore Economic Development Board, said: “We are delighted that Philips has chosen Singapore as the competence center and regional headquarters for its new Hospital to Home business. This is a good example of how global companies like Philips find value in Singapore as a partner and in our ICT capabilities to co-innovate and develop new healthcare solutions here, which can then be marketed to the rest of Asia.”
Chronic illnesses are rising faster in Asia than globally and the sheer number of people requiring care is staggering. Asia will be home to half of the world’s elderly population and half of the global burden of chronic conditions by 2030. Asians increasing life expectancy and growing economic affluence will add tremendous pressure on the region’s already-stretched healthcare systems and create ever higher demand for quality care.
“Emphasis on shared ownership and joint responsibility for healthcare outcomes is a core principle of the Singaporean healthcare system,” said Fernando Erazo, Head of Hospital to Home, Philips Healthcare in Asia Pacific. “We share that principle too, to ultimately improve patient's involvement and increase self-management of health. Singapore’s forward looking healthcare system encourages co-innovation between healthcare providers and industry players. Add to this the evolving healthcare landscape, and we have the perfect conditions to innovate patient care models right here.”