GE Healthcare, Microsoft name their new company
GE Healthcare and Microsoft have announced senior executives and the name of their joint health IT venture, which was announced in December. The new company, called Caradigm, is expected to launch in the first half of this year.
The name is meant to embody paradigm shift in care delivery, said the firm's CEO-designate, Michael J. Simpson – said he was pleased to find such an evocative moniker
"You see a name that reflects your company and your mission, and it just works out," he said. "We were very surprised it hadn't been taken before."
The two parent companies each contribute to Caradigm's technology portfolio, which will build upon products such as Microsoft's Amalga health intelligence platform and GE Healthcare's Qualibria, clinical knowledge applications.
[See also: GE, Microsoft launch new health IT company.]
By developing clinical apps on an open and interoperable technology platform, Caradigm seeks to outfit health systems with systemwide intelligence meant to improve population health management.
Simpson said that when it comes to "collecting data, applying intelligence to that data, and then providing insight to the clinician," Caradigm will be uniquely positioned.
"If you look at everyone in the continuum from the McKessons to the Epics to the TheraDocs to the Humedicas, everybody who crosses that entire world, some of them are very good at collecting data, some of them are very good at applying intelligence, but very few can do all three."
Building upon technologies like Amalga and Qualibria, he said, Caradigm will have the "ability to aggregate data across these multiple silos of healthcare information. So, whether you're here in America with different ambulatory and laboratories and radiology clinics, et cetera, Amalga can pull all that data from those disparate locations, put it in one central location, and then we can apply this intelligence and insight to the care team. And we've got that same ability in the U.K., Germany, China and all the other jurisdictions, which will be live on day one."
Indeed, Caradigm plans to make its mark worldwide, said Simpson. "We can look at healthcare from a global economic crisis point of view, every country, every government is struggling with the increasing costs of healthcare. And trying to bend the cost curve and reduce the overall cost of delivery of care is going to be the primary agenda of today and the next decade moving forward."
Caradigm's leadership team is drawn from both companies: