Launch Of The Innovation Institute Provides Novel Platform For Transformation Through Collaboration
ORANGE COUNTY, Calif., Feb. 5, 2013 /PRNewswire/ -- The Innovation Institute announced its launch today as a unique aggregation platform to stimulate growth, innovation and collaboration among leading non-profit health systems. Structured as a for-profit company owned exclusively by seven founding non-profit health systems, The Innovation Institute provides an independent vehicle through which hospitals can cooperate with other like-minded partners and execute their strategic initiatives on an expedited basis. St. Joseph Health, a $5 billion system, based in Orange County California, became its first founding member. In addition, The Innovation Institute announced a strategic alliance with The Cleveland Clinic as the newest member of Cleveland's Healthcare Innovation program.
"Our mission and vision is to truly transform the healthcare delivery system by fundamentally altering the way hospitals think about their business assets, human resources and strategic relationships," said Joe Randolph, President & CEO of The Innovation Institute. "Sometimes the biggest obstacle to change is ourselves. Our unique business model not only fosters collaboration through common ownership and shared vision, but it also offers new revenue opportunities, better quality and faster execution through this independent vehicle."
The Innovation Institute is a healthcare provider of innovation solutions, business process services, and investment management services to hospitals and health systems. It consists of three primary business units: (i) the Innovation Lab, an incubator for new disruptive breakthrough inventions; (ii) the Enterprise Development Group, a group of shared services offering high-quality, cost-effective solutions; and (iii) the Growth Funds, a portfolio of investments in emerging businesses and assets.Deborah Proctor, President and CEO of St. Joseph Health, who helped form The Innovation Institute says, "In response to health care reform, every health system is looking for ways to promote value through increasing efficiency and ensuring high quality. Incremental changes from traditional methods may no longer be sufficient or offer sustainable solutions. The Innovation Institute provides St. Joseph Health with a vehicle for us to explore effective, thoughtful responses to health care challenges and collaborate with others who share our focus and vision." The Innovation Institute is currently in active discussions with several other large not-for-profit health systems looking to invest as member owners.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV