Innovation Lab in Newport Beach, California, The incubator is jointly owned by six non-profit health systems, Has been with Olive, a health technology company, jointly develops automation solutions for suppliers.
Ryan Kelly, general manager of the Innovation Lab, said in a telephone interview that as part of the Innovation Institute, the laboratory works with its health system owners to identify unmet needs, create medical products around these needs and bring them to the market . The Institute is a for-profit entity owned by the following institutions:
- Bon Secours Mercy Health in Cincinnati
- Franciscan Missionary of Our Lady Health System in Baton Rouge, Louisiana
- Avera Health, Sioux Falls, South Dakota
- CHOC children in Orange, California
- Valley Children’s Healthcare of Madeira, California
- MultiCare Health System in Tacoma, Washington
It was announced on Tuesday that the Innovation Lab and Cleveland Olive Kelly said it will focus on artificial intelligence-driven tools that can automate and improve the efficiency of operations and clinical workflows. To create these tools, the two companies will use Olive’s artificial intelligence platform and technical expertise, as well as the innovation lab’s first-line visits to the aforementioned health system executives and innovators.
“[We will] Determine where we can bring Olive’s technology to the desktop, and jointly develop new solutions on their platform, and finally focus on the solution [a] Health system problems, and [also] Take this product and commercialize it widely, leveraging Olive’s distribution capabilities,” Kelly said.
Initially, the two companies will focus on integrating innovative laboratory products into Olive’s platform, which connects patients and case managers. This product is designed to help patients complete the journey from acute care to post-acute care environment.
“This is a low-handed opportunity we are looking for, but we have some other truly exciting and more transformative opportunities under evaluation,” Kelly said.
The new solution jointly developed will also become part of the Olive Helps Loop library, which is similar to Apple’s App Store but for hospital and medical system customers.
“The alliance will create a huge opportunity for healthcare leaders, developers and investors from multiple providers and companies to listen, build, learn, and publish innovations on the Olive platform to improve the humanity of employees and patients Experience,” said executive Patrick Jones, Olive’s vice president, in an email.
The Innovation Institute and Laboratory was established in 2013. As the exclusive commercialization partner of six health system owners, the laboratory has successfully commercialized 20 products since its establishment, ranging from digital solutions to research tools. Product sales revenue is shared with the owner, who is usually also a place for pilot or verification research.
But now, Innovation Lab is launching subscription or paid service versions of innovative services for providers other than the six owners.
Kelly of Innovation Lab said the move will help expand the partnership with Olive.
“As we scale up through subscription services and bring more hospitals and health systems into our ecosystem, it will only broaden the network of how and where we look for opportunities [for the products we will co-develop],” He says.
Photo: Gerasimov174, Getty Images