On February 13th GE Healthcare officially acquired API Healthcare, the healthcare-exclusive vendor that offers workforce management solutions. The API solutions will reportedly be part of the Predictivity™ Industrial Internet portfolio with GE Healthcare’s existing Hospital Operations Management (HOM) offerings, including the following API applications:
- Staffing and Scheduling
- Patient Classification
- Time and Attendance
- Human Resources and Payroll
- Talent Management
- Business Analytics
- Emergency Preparedness
- Staffing Agency Solutions
API was established in 1982 as a private company under the leadership of Luis Garcia who served as president and CEO until Francisco Partners, a private equity firm, acquired the company in 2008. One interesting side note is that J.P. Fingado, who replaced Garcia at the API helm, was president and COO of Dynamic Healthcare Technologies before its acquisition by Cerner in 2001. Under Fingado’s leadership, API continued to develop and expand its product line, including acquiring two additional companies – Clearview Staffing Software and Concerro. The latter enabled the company to extend services beyond the hospital market to home health, retail clinics and long-term care facilities.
Fingado expressed his view that combining API Healthcare’s solutions with GE Healthcare makes a lot of sense.
As the demands of an aging population increase and the greater challenges associated with a changing workforce take hold, operational efficiency has never been more important. We are excited to expand our capabilities and address customers’ toughest challenges together with GE.
With the GE AgileTrac real-time location system (RTLS) already a member of the GE product portfolio as a result of its 2008 acquisition of Agility Healthcare Solutions, GE has been able to offer asset and patient flow management. The API deal moves GE farther along in its Industrial Internet strategy, according to Michael Swinford, president and CEO of GE Healthcare Services:
Labor costs represent over 50 percent of hospital operating budgets. With this acquisition, we are now able to address a significant portion of hospital operating costs – from assets to patient and labor – with a mix of software, real-time data, power analytics and professional services.
Historically, API Healthcare has been a strong contender in MD Buyline User Satisfaction Ratings for the two technologies in which they are ranked – Time and Attendance and Staff Scheduling. In the current quarter, they are ranked first in Time and Attendance and tied for first place in Staff Scheduling with McKesson as seen below in MD Buyline’s User Satisfaction Ratings for this quarter.