A History of Innovation
Innovation has been one of Cleveland Clinic’s cornerstone values since its inception. Founded in 1921 by four renowned physicians, Cleveland Clinic broke with traditional medicine by pioneering the idea of multi-specialty group practice. While this vision would revolutionize patient care, the founders knew this type of collaborative structure would also generate new and game-changing ideas that would continue to improve patient care into the future. Innovative from the very beginning, Cleveland Clinic’s breakthrough medical inventions include co-founder George Crile’s novel carotid and forceps clamps, as well as coronary artery bypass surgery and the first face transplant in the United States. Not only has innovation come from physicians looking to improve patient care, but ideas have also been generated from nurses and operations staff to advance the overall delivery of care. With an overflowing pipeline of new ideas, Cleveland Clinic Innovations was created to keep pace with the bulging innovation pipeline. Innovations, the corporate venturing arm of Cleveland Clinic, accelerates the adoption process and encourages even more ideas from the entire healthcare community. Within the ever-changing healthcare environment, Innovations has become a model of driving medical innovation. Cleveland Clinic Innovations seeks to improve the lives of patients by turning the ideas and breakthroughs of Cleveland Clinic’s physician inventors into medical products that create new companies, jobs and economic opportunities. Over more than a decade, Innovations has filed 1,600 patents, has more than 400 active licenses and has 55 spin-off companies that have received nearly $700 million in equity investment. Nearly 1,000 jobs have been generated as a result of Cleveland Clinic Innovations and its spin-offs, having a significant impact on the economic growth in Northeast Ohio. Leaders from Cleveland Clinic Innovations actively meet with physicians and researchers to encourage them to think of themselves as innovators and to keep the innovation process top of mind.
Cleveland Clinic Innovations hosts the annual Medical Innovation Summit, which convenes more than 1,000 great thinkers and leaders for a candid exchange on new medical technology, its future, recent breakthroughs and continuing challenges. Many regard the meeting as among the premier healthcare gatherings in the United States. The Summit is built around CEOs of major corporations, government executives and top investors. The Summit has welcomed attendees and speakers from around the world to come learn, share and collaborate on a vast platform of innovation. The 2013 Medical Innovation Summit – Finding Balance through Innovation: Obesity, Diabetes & the Metabolic Crisis – will take an in-depth look at one of the nation’s most troubling healthcare issues. This year’s Summit will take place Oct. 14-16 and mark the opening of the Global Center for Health Innovation, Cleveland’s newest medical showplace. The Medical Innovation Summit provides an unrivaled perspective on the newest medical innovations and the financial drivers behind those innovations. It is recognized for providing singular insights, networking opportunities and actionable take away for all participants.
Annual Top 10 list
Each year the Summit concludes with the presentation of Cleveland Clinic Innovations’ annual Top 10 list of the up-and-coming technologies that will have the biggest impact on health care in the next year. Cleveland Clinic’s culture of innovation naturally fosters a good deal of discussion about new “game changing” technologies. The passion of Cleveland Clinic’s clinicians and researchers for getting the best care for patients drives a continuous dialogue on what state-of-the art medical technologies are just over the horizon. A rigorous process is used to gather the opinions of Cleveland Clinic physicians and researchers, create a field of nominated innovative technologies for consideration, and develop a consensus perspective of what will be the Top 10 Medical Innovations for the next year. More than 110 Cleveland Clinic experts are interviewed to elicit their nominations. The primary question is, “What innovations are ‘game changers’ in your field?” In all, these interviews yield nearly 150 nominations of emerging technologies. A team prepares research on each technology and then presents a final list of over 55 up-and-coming technologies and their data profiles to two independent panels of leading Cleveland Clinic physicians. In late August, each panel meets to discuss, debate, and vote. The two panels then vote on the combined lists and establish the Top 10 Medical Innovations.
A look at several Cleveland Clinic Innovations spin-off companies that are having an impact on healthcare today.
Explorys: Explorys was co-founded in 2009 with the Clinic to provide leading-edge enterprise performance management for the healthcare industry. Explorys’ platform has been adopted by 14 major integrated healthcare systems with nearly 100 billion data elements, 31 million patients, 200 hospitals, and over 100,000 providers. In addition, Trinity Health just announced it will implement the entire suite of Explorys’ cloud-based big data analytics solutions across its 47 acute-care hospitals, 432 outpatient facilities, 33 longterm care facilities, and numerous home health offices and hospice programs spanning 10 states in order to continue improving its care of patients, residents and communities.
Juventas: Juventas Therapeutics is taking regenerative medicine to the next level. Juventas was spun-off from Cleveland Clinic in 2007 to cultivate and commercialize a pipeline of regenerative therapies that can treat lifethreatening diseases. Since its launch, Juventas has transitioned its therapeutic platform from concept into Phase II clinical trials for heart failure and critical limb ischemia. The company's lead product, JVS-100, has been shown to protect and repair tissue and organ damage in a broad range of pre-clinical disease models.
ImageIQ: In a time when medical research is often clouded by high costs, long timelines, and subjective analyses, ImageIQ brings clarity. Spun out of Cleveland Clinic in February of 2011, ImageIQ is helping companies and institutions draw definitive, objective conclusions in their research by extracting quantitative data from a wide array of images. For nearly 10 years, ImageIQ’s unique expertise was refined inside Cleveland Clinic by providing imaging analysis for the Clinic’s various research efforts. As the Clinic’s Biomedical Imaging and Analysis Center’s capabilities grew and image data became more important in clinical and preclinical trials, the Clinic launched ImageIQ to respond to analytical challenges across the medical industry.
Cleveland HeartLab: Cleveland HeartLab, Inc.’s mission is to lead in the pursuit of the identification and prevention of chronic disease through innovation. Launched by Cleveland Clinic in 2009, Cleveland HeartLab now offers an array of reliable and affordable biomarkers that provide insight into an individual’s risk for heart disease and cardiac events. Its unique profile of tests focuses on managing and reducing inflammation, and offers an assortment of standard and advanced tests that doctors can choose from.
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