How hospitals are becoming innovation hubs

Intermountain among the latest to launch

Salt Lake City-based Intermountain Healthcare is the latest health system to try and become an "incubator for innovation," Marty Stempniak writes at Hospitals & Health Networks.

Intermountain is teaming up with Chicago-based Healthbox to launch a multi-pronged model to cultivate innovation within its organization. The strategy includes:

  • An innovation lab, intended to give employees a platform to transform their ideas into commercial businesses; and
  • The Salt Lake City Accelerator, a new partnership that links area entrepreneurs with guidance and leadership from Intermountain.

According to Nickolas Mark, director of Intermountain's business development group, the initiative will help address a common frustration: Many health care inventors say they're unable to bring their ideas to fruition.

White paper: How to develop high-impact innovation centers at your hospital

"Personally, I believe there's never been a better time to be an entrepreneur in the health care sector, focused on disrupting this space and changing it throughout," according to Mark. Intermountain will begin with a broad scope, but focus on areas like genomics and telehealth.

Stempniak notes that several other organizations have begun cultivating their own innovation challenges. For example, Boston Children's Hospital recently hosted a "Shark Tank"-like event, similar to the TV show, allowing innovators to pitch their ideas to a panel of docs and other experts (Stempniak, Hospitals & Health Networks, 11/10).

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