World Knowledge Forum

[WKF 2019] Trends and innovation in healthcare│Kieran Murphy (GE Healthcare, President & CEO)



* Trends and innovation in healthcare│Kieran Murphy (GE Healthcare, President & CEO): GE Healthcare is a leading medical technology and diagnostics innovator. With almost $19 billion revenues in 2018, GE Healthcare is one of the world’s top 3 med-tech companies. GE Healthcare has the world’s largest installed base in imaging, mobile diagnostics and monitoring, with over 4 million systems worldwide and has a leading portfolio of contrast media and nuclear medicine agents, used in three patients every second around the world, that enable precision in clinical diagnoses by enhancing the acuity of diagnostic imaging exams. GE’s position as one of the world’s largest generators of healthcare data also positions us as a leader in digital innovations in healthcare. GE Healthcare has already introduced over 180 analytics-based apps that are in use around the world today, and GE manages over 75 billion patient studies. GE Healthcare is a leader globally, serving customers in over 160 countries with a team of over 6,600 sales professionals, 2,400 channel partners and 9,000 field service engineers. But GE is also a leader ‘locally’, around the world. GE Healthcare conducts R&D in 18 countries and make GE products in 20 countries worldwide, which ensures that we can bring customers innovations that are tailored to their local needs, with greater security of supply. Through this “local, globally” philosophy we have built leading positions in China and other fast growth markets. What powers GE Healthcare leadership is innovation: innovation that changes the standard of care and improves outcomes substantially for customers. We invest over $1 billion a year in R&D and have over 14,000 patents globally. For the past 3 years our investment in R&D has grown faster than our revenues, reflecting our commitment to innovation. Healthcare as a whole is moving towards precision health: an approach to care that is integrated, efficient and highly personalized to each patient. The scale and breadth of our portfolio, along with our digital capabilities, uniquely positions us at the center of this ecosystem striving for precision health. Kieran Murphy, GE Healthcare President & CEO, will talk about the goal to deliver increased capacity, improved productivity, and better patient outcomes for our customers. These are key challenges to overcome to support the delivery of precision health. Precision health will create demand for new technologies and advanced solutions including smarter diagnostic machines, which automatically personalize the test to a patient’s specific needs, AI-based decision support for a customer’s clinical and operational decisions, better drug development, using AI to select patients most likely to benefit from experimental therapies, more precise therapies, using AR/VR to guide surgeries and 3D printed medical models in planning complex therapies, and extension of precision monitoring into new settings, such as telehealth and outpatient monitoring. Kieran could not be more excited to talk about the path ahead for GE Healthcare, and for the outcomes we will deliver for our customers worldwide.