KNOW-HOW, AND INVENTION, IN HEALTHCARE

The business of transferring medical ideas into the marketplace is changing. Medical “know-how” is starting […]

The business of transferring medical ideas into the marketplace is changing. Medical “know-how” is starting to be considered as valuable to the U.S. health care system as are new medicines. Compared to 10 or 20 years ago, today’s clinicians are becoming inventors who develop their ideas quickly. This modern way of inventing and speeding innovations to market is a great path forward, not just for clinicians, but for all of us in health care. As the head of Henry Ford Health System’s Innovations, a business unit of HFHS that is designed to commercialize healthcare solutions, I’m very bullish on this path. Here are some of the things I’m seeing:

  • People are finally mining the incredible know-how that’s already in the heads of doctors, nurses and other caregivers. Historically, the tech transfer world has not always recognized that “corridor consults” in hospitals around the world are treasure troves of knowledge that can improve our health. But this is changing.
  • People are focusing on health and wellness because helping people stay healthy is more effective and less expensive than treating illness. Years ago, hospitals derived their value almost exclusively from treating patients who were sick, but as you probably know, they’re now increasingly motivated to derive value from managing populations of people who are healthy. Happily, invention and technology are following suit.
  • People are quickly engineeringmodern solutions that work for consumers. Doctors are borrowing rapid prototyping practices from other industries to take their know-how to the marketplace, and investors are responding.

Happily, HFHS Innovations has access to the capital and infrastructure where we can invest in deep research and development. And we also have great industry and non-profit partnerships for research and investing. This is great–ten years ago, I might have suggested we focus nearly exclusively on this deep research and investing part of our strategy. But not today. Because today, we believe there are equally as great returns for our population in the massive, untapped opportunity to translate medical know-how. So, we’re focused on both pieces.

The emerging definition of invention—as increasingly including medical know-how—is a change I’m happy to support and evangelize for one simple reason: it’s good for hospitals, clinicians, and those we serve.

 

markcoticchia

Mark E. Coticchia is Vice President and Chief Innovation Officer of the Henry Ford Health System(HFHS) in Detroit, Michigan. He leads Henry Ford Innovations, a unit that position’s HFHS to adapt to the rapidly changing world of technology and consumer-impacted health care that will drive the future direction of medicine.

Mr. Coticchia is responsible for leveraging the System’s intellectual and
clinical assets through technology commercialization, venture funding, product development, and corporate partnerships. In his role he also oversees the Henry Ford Innovation Institute, the Davidson
Center for Digital Health as well as the Henry Ford Health System’s global initiatives.

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