Three major hospital companies and two hospital systems have invested in the Heritage Healthcare Innovation Fund — a strategic venture focused on investments in businesses that improve healthcare delivery.
One of the limited partners in the fund is non-profit Iowa Health System, the state's largest integrated health system with 25 hospitals.
Bill Leaver, CEO of IHS, considers the system's investment in the Innovation Fund another way for the organization to remain a leader in a changing healthcare environment. "The Fund is specifically designed to create a working relationship with innovators, offering real-time feedback and mentoring to develop truly practical solutions to the challenges we face today," says Mr. Leaver.
While healthcare reform and uncertainty has been a large factor in the Innovation Fund's mission, Mr. Leaver says the legislation is not the driving reason. "The Fund makes sense even if healthcare reform legislation had not been passed," he says. Mr. Leaver points out that IHS is trying to change the tradition of hospitals investing little in research and development. Rather, most hospitals have historically incubated, funded and developed ideas that were directly related to patient care.
Mr. Leaver says many "innovative" ideas that businesses have delivered to hospitals were not always improved quality or efficiency, but the Innovation Fund is different.
"The Fund is broadly interested in innovative businesses that will improve quality, reduce cost or increase efficiencies in the operations of healthcare delivery systems. It is likely that the Fund will invest in areas that are relevant to healthcare reform, such as healthcare information systems and technology," says Mr. Leaver.
Learn more about Iowa Health System.
Read more about Iowa Health System:
- Iowa Health System's Finley Hospital Names David Brandon as CEO
- Iowa Health System's CEO Bill Leaver: Focusing on What Won't Change in Healthcare
- 12 Hospital and Health System CEO Goals for 2011
One of the limited partners in the fund is non-profit Iowa Health System, the state's largest integrated health system with 25 hospitals.
Bill Leaver, CEO of IHS, considers the system's investment in the Innovation Fund another way for the organization to remain a leader in a changing healthcare environment. "The Fund is specifically designed to create a working relationship with innovators, offering real-time feedback and mentoring to develop truly practical solutions to the challenges we face today," says Mr. Leaver.
While healthcare reform and uncertainty has been a large factor in the Innovation Fund's mission, Mr. Leaver says the legislation is not the driving reason. "The Fund makes sense even if healthcare reform legislation had not been passed," he says. Mr. Leaver points out that IHS is trying to change the tradition of hospitals investing little in research and development. Rather, most hospitals have historically incubated, funded and developed ideas that were directly related to patient care.
Mr. Leaver says many "innovative" ideas that businesses have delivered to hospitals were not always improved quality or efficiency, but the Innovation Fund is different.
"The Fund is broadly interested in innovative businesses that will improve quality, reduce cost or increase efficiencies in the operations of healthcare delivery systems. It is likely that the Fund will invest in areas that are relevant to healthcare reform, such as healthcare information systems and technology," says Mr. Leaver.
Learn more about Iowa Health System.
Read more about Iowa Health System:
- Iowa Health System's Finley Hospital Names David Brandon as CEO
- Iowa Health System's CEO Bill Leaver: Focusing on What Won't Change in Healthcare
- 12 Hospital and Health System CEO Goals for 2011