GE Healthcare has announced plans to invest $2 billion over the next five years to accelerate the development of software for healthcare systems and applications.

GE Healthcare is already the largest software developer within GE, providing a wide range of medical imaging technologies, IT services, patient monitoring and diagnostic solutions, biopharmaceutical manufacturing technologies and operational and technological service solutions.

The new $2 billion investment will allow GE Healthcare to better address operational and productivity challenges faced by healthcare organisations in both emerging and developed markets, the organisation said.

In particular, GE Healthcare is looking for solutions that improve patient care, reduce costs and minimise redundencies by maximising asset performance, improving hospital operations management, improving clinical effectiveness and optimising care across entire populations. 

“Healthcare has always relied on 'big data,' and the need to understand data is even greater now,” said John Dineen, President and CEO of GE Healthcare.

“These new software solutions will look to connect caregivers in a meaningful way to the systems upon which they rely, enabling them to deliver better informed diagnoses and improved care.”

Last year, GE produced a report claiming that the “Industrial Internet” has the potential to add $10-15 trillion to global GDP by 2030 and reduce billions of dollars worth of waste across major industries such as healthcare, energy and transportation.

GE Healthcare claims to have already made big strides in developing software-based technologies and solutions that provide increased data, analytics, connectivity and insight into operational and departmental processes and workflows.

With the help of industry partners, the organisation hopes to provide flexible and connected software, data and analytics so that doctors and nurses have what they need to help prevent, diagnose, treat and cure new health challenges.