Based on its recent analysis of the cardiology informatics market, Frost & Sullivan recognizes Philips Healthcare with the 2011 North America Frost & Sullivan Award for Market Share Leadership. The company’s close relations with its clients help it develop rich clinical applications and sophisticated workflow management solutions for cardiology.
Philips Healthcare’s product portfolio constitutes a comprehensive, end-to-end solution for integrated cardiology image and information management. It offers the highest levels of functionality and clinical depth available in the market today, without compromising simplicity and ease of use. Further, it has been proven to improve clinical and financial performance for every type of cardiology facility.
On the image management side, Philips Healthcare’s Xcelera offers centralized image management for virtually every imaging modality used in cardiology. The company also offers Philips CVIS (cardiovascular information management system), a comprehensive information management solution that provides clinicians with convenient access to the detailed records and information of all cardiac patients across their complete cardiovascular care continuum. It also provides hospital administrators and department managers with complete operational information, such as patient scheduling, supply utilization, as well as productivity and outcomes reporting.
Besides the powerful CVIS, Philips also offers TraceMasterVue, a best-of-breed solution set for enterprise-wide electrocardiography management. In addition, Philips offers advanced hemodynamic monitoring with unique clinical decision support, via Philips Xper Information Management System which utilizes the recently introduced Xper Flex Cardio physiomonitoring system.
"The products forming Philips Healthcare’s integrated portfolio are individually regarded by clinical specialists as some of the most advanced, trusted and best-in-class for their specialty," said Frost & Sullivan Principal Analyst Nadim Daher. "Philips has also invested heavily in building a team of hundreds of professionals focused on the successful delivery, implementation and support of its clinical informatics solutions."
Reflecting its strategy in the picture archive and communications systems (PACS) market, in which it is one of the top three vendors, Philips Healthcare has a sound and modern vision for the cardiology marketplace. The company has capitalized on the continued success of its IntelliSpace PACS 4.4 solution set in radiology to deploy its cardiology informatics solutions at key customer sites under a managed service model. By combining the multimodality cardiovascular image management capabilities of Xcelera with the enterprise storage archiving capabilities of iVault and the enterprise image distribution capabilities of IntelliSpace PACS 4.4, Philips Healthcare is starting to deliver the benefits of its managed services model for purchasing and operating clinical IT.
The managed services model offers customers' access to state-of-the-art technology at all times, without the risk of technology obsolescence or the need for high periodic capital expenditure. The model also stands out as a solution for cardiology, in light of the recent consolidation trend among cardiology practices and hospitals.
"Through its current and next generation IT platforms, Philips Healthcare is proving to be a benchmark for IT departments as they gain increasing ownership and play a larger role in decision-making and supporting cardiology informatics," said Daher. "The company is highly recognized for its steady, organic product technology upgrade process that empowers customer advancement while minimizing disruption."
Each year, Frost & Sullivan presents this award to the company that exhibits market share leadership by excelling in all areas of the market leadership process, including the identification of market challenges, drivers and restraints, as well as strategy development and methods of addressing these market dynamics. Furthermore, the award recipient continually demonstrates solutions for monitoring market changes and implementing superior market strategies. By utilizing these strategies for success, the company has established itself as the market share leader in its respective industry.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people's lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of "sense and simplicity." Headquartered in the Netherlands, Philips employs over 120,000 employees with sales and services in more than 100 countries worldwide. With sales of EUR 22.3 billion in 2010, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at philips.com/newscenter.
About Frost & Sullivan
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