Over the past four months, UPMC has continued to invest in technologies and innovations for healthcare delivery despite financial pressures related to the pandemic.
On Aug. 26, the health system revealed more details about two key innovation initiatives in its second-quarter financial results. During the first half of 2020, the health system reported $59 million in operating income and a 9 percent increase in operating revenue, to $11 billion. The health system also spent $420 million on capital expenditures to enhance facilities and technology, according to the report.
In May, Infections Disease Connect, a telemedicine company backed by UPMC, combined with Merck’s ILUM Health Solutions, an infectious disease management and clinical decision support technology and services provider. Here are five details about the transaction:
1. UPMC Enterprises, the health system’s commercialization arm, and Merck Global Health Innovation Fund both invested $5 million for developing customer offerings and business growth of the combined entity.
2. UPMC kept majority ownership of the combined company, which expanded capabilities to address the shortage of access to infectious disease physicians across the U.S.
3. After the merger, Infectious Disease Connect also expanded services to help address the increased risk of hospital-acquired infections and inappropriate antimicrobial usage.
4. The company now provides infectious disease expertise and tools to help hospitals meet federal regulations around antimicrobial stewardship programs.
5. Infectious Disease Connect now serves hospitals in nine states.
In June, UPMC established the UPMC Global Technology Operations Center in Ireland to support more international expansion. Here are five updates on that move:
1. The facility will employ more than 60 skilled technology workers and support staff over the next three years. The health system has more than 475 staff members in Ireland already.
2. UPMC has an advisory agreement to support an academic medical center in Kazakhstan as well and plans to manage a network of new hospitals in China.
3. UPMC already has multiple hospitals, cancer centers and healthcare facilities in Ireland and Italy.
4. The health system already has an international training center and hosts UPMC Global Care, which connects physicians and patients around the world with services.
5. UPMC also has an internationally recognized concussion program in the U.S. and expanded to develop the UPMC Concussion Network in Ireland. The network is a coalition of clinicians and healthcare providers that focuses on standardizing concussion testing and treatment.