Healthcare decision-makers are under immense pressure to improve clinical and operational processes. They must also accelerate digital transformation to satisfy an increasing consumer appetite for more personalized, enhanced, and patient-centric health services.
Healthcare leaders, however, lack the financial and technical resources and expertise needed to implement digital hospital solutions. Courtesy of this, there has been a rise in healthcare technology partnerships.
Hospitals and healthcare providers are gradually recognizing the need to implement smart healthcare systems if they are to advance the delivery of innovative health services. As a result, they are increasingly partnering and collaborating with tech firms and system integrators for smart hospital deployments.
Disease outbreaks like COVID-19 have further reinforced healthcare providers to seek more innovation and collaboration. Let’s analyze some vendor partnerships in healthcare and how they are shaping the future of smart hospitals.
- Hospital and Tech Company Collaborations
Partnerships between hospitals and technology firms have become a hot trend in the healthcare industry. Healthcare providers have the tendency to offer clinical expertise and real-world testing grounds, while tech firms bring in cutting-edge solutions. System integrators then bridge the two, ensuring interoperability and secure data management across platforms.
In December 2024, Royal Philips entered into a research collaboration with Mayo Clinics to advance MRI for cardiac applications. Through this collaboration, the two companies will look to harness the power of AI and the expertise of Mayo Clinic physicians to enhance operational efficiency by reducing complex MRI exams and enhancing workflow of radiologists.
- Joint Ventures
Joint ventures are being widely used in smart hospital projects. They allow stakeholders to combine resources, share risk, and collaboratively develop customized solutions.
In February 2023, GE Healthcare’s Chinese subsidiary entered into an agreement with China National Medical Device Co., Ltd., a subsidiary of Sinopharm, to form a long-term joint venture in China. The new joint venture is aimed at developing, manufacturing, and commercializing advanced medical equipment.
In October 2022, Siemens Healthineers teamed up with Atos to provide hospitals with integrated digital platforms. This collaboration combines Atos’s expertise in cloud computing and cybersecurity with Siemens Healthineers’ medical imaging and diagnostic solutions.
The partnership aims to improve hospital operations via integrating various devices and systems. Atos has also been given the task of deploying and managing intelligent services for Siemens Healthlineers across multiple locations.
- Long-Term Service Agreements
Smart hospital deployments also require continuous support, updates, and training. This is where long-term service agreements (LTSAs) step in. These agreements ensure that hospitals receive technical support, workforce training, and software. IBM Watson Health has entered into long-term collaboration agreements with several hospital networks, including Thailand’s Bumrungrad International Hospital.
- Collaborative Innovation in Smart Hospitals Sector
Some partnerships are centered around innovation labs and pilot testbeds. Under this partnership, stakeholders co-develop and test smart hospital technologies before full-scale deployment.
One prime example of this is the Smart Hospital Innovation Lab by Cisco and NHS England. The lab acts as a testing ground for connected medical devices, telemedicine platforms, and cybersecurity solutions.
In December 2024, Cisco partnered with CURAM SFI Research Centre for Medical Devices and the University of Galway to develop a virtual hospital framework. With these partnerships, the company intends to enhance patient care at home.
Strategic partnerships and collaborations are becoming a cornerstone of successful smart hospital deployments. They ensure that technological advancements are translated into practical, patient-first solutions. These partnerships are also expected to stimulate growth of the smart hospitals industry.
According to Coherent Market Insights (CMI), the global smart hospitals industry is set to record a CAGR of 20.7% during the assessment period. Total industry size will likely reach US$ 222.92 billion by 2032.
Sources:
Magazine: Harvard Business Review
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