Washington » General Electric announced a $3 billion investment in new medical technology Thursday that includes a partnership with Utah's Intermountain Healthcare to create a top-line electronic medical-record system.
The partnership is already in the works, with a pilot program taking place in the emergency room of IHC's American Folk hospital. Jeffrey Immelt, GE's CEO, said the new software should be on the market sometime next year.
The Web-based record system will help doctors and nurses avoid medical errors and waste, while also creating an online record for the patient.
"It means our ability to deliver good care is going to explode at the same time the costs are going to drop profoundly," said Brent James, the executive director of IHC's Institute for Health Care Delivery Research.
Intermountain Healthcare footed one-third of the $300 million development cost and GE paid for the rest. The Mayo Clinic is also assisting in the project. IHC will get the first crack at using the technology. GE will then sell it to other hospitals.
IHC will receive royalty payments.
This health information technology effort is only a small part of GE's $3 billion Healthymagination effort. Along with energy technology, Immelt said health innovations are "the pillars of growth" for the company.
