Introduction to Cedars-Sinai’s Innovation Center
Cedars-Sinai said it can move faster in developing innovations that work in real-world, clinical environments and improve healthcare delivery by collaborating to build and nurture an entrepreneurial program that taps the health system’s data and clinical resources.
Why It Matters
Redesign Health, which says it has launched more than 60 healthcare companies, will work with Cedars-Sinai to develop the innovation center, according to the health system’s announcement Wednesday. Cedars-Sinai’s doctors, researchers and staff members will have opportunities to participate by identifying and solving challenges in their everyday work.
The Goal of the Partnership
The academic healthcare system said it intends to foster a culture of entrepreneurship to guide and mentor digital innovation that improves patient care and operations and increases coordination among patients, providers and payers. The Digital Innovation Platform will source experienced founders to lead the new companies. They would gain access to an integrated data platform Cedars-Sinai is developing, which uses deidentified, secure and synthetic data – a source of artificial data that mimics real-world patterns.
How the Partnership Will Work
The incubating companies would use the data source to train AI and with other emerging technologies, and Cedars-Sinai would be the first to validate precision medicine and other patient care tools they develop. Dr. Peter Slavin, the health system’s president and CEO and the David and Meredith Kaplan Presidential Chair, called the partnership a bold approach to addressing the healthcare system’s critical needs.
The Larger Trend
Hospitals and health systems have been nurturing accelerator programs for several years to develop and grow technologies that support delivery operations and patient services. Five years ago, Tampa General Hospital launched a fund, innovation lab and accelerator program now called TGH Ventures that created a portfolio of healthcare companies that include logistics platform Dexcare, food-as-nutrition delivery service Modifyhealth and others.
Recent Developments
In the last couple of years, more health systems have been leveraging their vast troves of data to develop and further AI and other emerging healthcare technologies. GE HealthCare Technologies Inc. and the University of California San Francisco formed a partnership to collaborate on advanced imaging and precision oncology. Through a Care Innovation Hub, the partners said in January that they aim to improve hospital operations and increase access to care by developing, testing and evaluating novel technologies for diagnosing and treating disease in clinical settings.
Quotes from Key Figures
"By harnessing Cedars-Sinai’s groundbreaking medical research, expansive provider network and clinical insights, we’re uniquely positioned to develop transformative businesses that not only address unmet needs but also shape the future of healthcare on a global scale," Brett Shaheen, Redesign Health founder and CEO, said in a statement.
Conclusion
The partnership between Cedars-Sinai and Redesign Health is a significant step forward in the development of innovative healthcare solutions. By leveraging Cedars-Sinai’s data and clinical resources, the partnership aims to improve patient care and operations, and increase coordination among patients, providers, and payers. This collaboration is part of a larger trend of hospitals and health systems nurturing accelerator programs to develop and grow technologies that support delivery operations and patient services.
FAQs
Q: What is the goal of the partnership between Cedars-Sinai and Redesign Health?
A: The goal of the partnership is to develop innovative healthcare solutions that improve patient care and operations, and increase coordination among patients, providers, and payers.
Q: How will the partnership work?
A: The partnership will work by sourcing experienced founders to lead new companies, which will have access to an integrated data platform developed by Cedars-Sinai. The companies will use the data source to train AI and other emerging technologies.
Q: What is the larger trend in the healthcare industry?
A: The larger trend in the healthcare industry is that hospitals and health systems are nurturing accelerator programs to develop and grow technologies that support delivery operations and patient services.
Q: What are some examples of recent developments in the healthcare industry?
A: Some examples of recent developments in the healthcare industry include the partnership between GE HealthCare Technologies Inc. and the University of California San Francisco, and the launch of the center for AI and human health by Mount Sinai Health.
