Corporate Tech Decisions | Collaboration Alive and Well at The Innovation Lab

The Innovation Institute is quite a unique company. It is a for-profit business formed by seven non-profit health systems as equity investors, each holding a seat on the Members Committee. The organization is focused on transforming healthcare through the development of innovative new products, services, and ideas. The Institute acts as an incubator, evaluating ideas, determining long-term potential, and working with the inventor to obtain patents, develop prototypes, and nurture projects until they can be brought to market.

“It’s a very unique structure,” says Patricia Eisenhardt, Executive Director of The Innovation Institute. “We’re a private, for-profit company that is co-owned by multiple major health care systems, all of which are non-profit. So we have these non-profit hospital systems that own our private, for-profit company, and they are basically investing in us because they see us as one avenue for embracing and evolving to meet the challenges that are coming with the changing landscape of healthcare in the U.S. and globally.  More…