Philips and Mayo Clinic Land $16 Million CMS Grant to Improve Clinical Care
12/19/2012 9:01:37 AM
The Mayo Clinic in collaboration with Philips Research North America and the U.S. Critical Illness & Injury Trials Group receive $16 million in funding from the Center for Medicare & Medicaid Innovation to improve critical care in the ICU. The Center for Medicare & Medicaid Innovation awarded Philips (NYSE:PHG), the Mayo Clinic and the U.S. Critical Illness & Injury Trials Group a $16 million grant from in support of improving clinical care performance. CMMI, a sub-group of the Centers for Medicare & Medicaid Services, handed out the funding as part of its Healthcare Innovation Awards, which seek to produce cost savings in the U.S. healthcare system by funding new developments. "Meaningful improvements to ICU patient care are emerging from this collaboration," CEO of Philips Healthcare's patient care and clinical informatics Mike Mancuso said in prepared remarks. "This technology is helping to enhance medical decision making and reduce medical errors in a sustainable way, ultimately addressing the reality of how care is delivered in an evolving health care environment."