"Growth is never by mere chance; it is the result of forces working together.” James Cash Penney
- Three hospitals in flyover country are taking creative approaches.
- Cinci Medical Center undergoing biggest development project in its 200-year history.
- Big deals going down in Indiana, North Carolina and Minneapolis.
- Name that Flyover city!
November 18, 2019
Innovating to improve patient care
Big healthcare systems are not typically known for being nimble in the pursuit of innovative solutions to support patients and providers. But that doesn’t mean it can’t be done—particularly for smaller systems that are focused on doing just that.
Three hospitals in the Midwest are making strides in improving patient care by taking creative approaches to building an innovative culture.
Grand Rapids, MI-based Mercy Health Innovation Hub is a good example. It’s located in the Grand Rapids Innovation and Design building (Grid70), which “nourishes innovation, ideation and cross-pollination”—exactly what the hub wants as it conducts research projects and engages patients in providing insights into its health care system.
Detroit’s Henry Ford Health System has a different take on its innovation journey, with a focus on incubating and commercializing its ideas. Its stated mission is to “engineer the future of healthcare by providing physicians and staff with world-class resources to turn great ideas into transformative products.”
Meanwhile, in Peoria, IL, a third healthcare system has launched OSF Innovation, which defines its innovation focus as advancing simulation, doing more for those with less, providing radical access to care, and supporting ways to enable aging in place.
Cinci Medical Center set for $221M expansion
Construction will soon begin on a $221 million expansion at the University of Cincinnati Medical Center, the largest such development project in the hospital's 200-year history.
UC health president and CEO Dr. Richard Lofgren said the plans include doubling the size and capacity of the hospital's existing emergency room facilities, adding three floors of ICU and new patient rooms, replacing an aging structure with two new parking garages, and building a three-story state-of-the-art surgery center.
This latest expansion project follows previously announced upgrades to outdoor lighting throughout the medical campus and improvements to the hospital lobby. The UC Medical Center isn't the only facility undergoing rapid expansion and development in the neighborhood. The Uptown area is already seeing hundreds of millions of dollars being invested to develop and transform the burgeoning Innovation Corridor.
Hospital officials point to the tri-state area's growing need for advanced 21st-century care in their own backyard. “These investments are going to increase the quality of care and life when lives are on the line,” Lofgren said. “We really need to make sure that we have the facilities to accommodate what we do for this community.”
Indiana makes 'big tech' an offer it can't refuse
There’s a bidding war going on for big-tech data centers among Midwestern states, and Indiana just upped the ante in a big way: The state is offering to eliminate sales taxes for a whopping 50 years to any company that spends at least $750 million to build a data center in the Hoosier state.
Tech giants like Apple, Facebook, Google, Microsoft, and Amazon are investing hundreds of billions of dollars in data centers. After routinely losing out to the likes of Iowa, Ohio, and Nebraska, the Hoosiers decided to go all-in on its 50-year investment. Though this incentive will cost the state direct tax revenue, the payoff is anticipated to be a construction boom which they anticipate will far outweigh that investment.
Durham's BioCryst inks deal in Japan for $42 million
Here’s a cool market niche: developing medicines for rare diseases that are largely going untreated. That’s the mission of BioCryst, a Durham, NC, pharmaceutical company. Treatments for rare diseases are tough for pharma companies to tackle, since the market is naturally limited precisely because of the rarity of the diseases.
But BioCryst has come up with a treatment poetically named BCX7353, which treats hereditary angioedema, a swelling of the skin on the face, tongue, larynx, abdomen, arms, or legs. The FDA-approved drug can help the roughly 100,000 sufferers in America, but in Japan there was no treatment—until now. BioCryst has announced a license arrangement worth $42 million with Japan’s Torii Pharmaceutical to provide the treatment there.
Minnesota's Total Expert raises $50 million
A mar-tech company based in suburban Minneapolis has landed $52 million in venture capital funding, a tidy sum for a startup outside the field of healthcare. The company, Total Expert, specializes in marketing software for mortgage firms. The venture capital funding is the largest round of funding in Minnesota in recent years.
Total Expert will use the dough to hire data scientists, designers, and other industry experts to ramp up its development of machine learning and artificial intelligence. Besides marketing technology, the company also specializes in compliance and reporting software. In just over seven years, the company has grown to 218 employees and $11 million in revenue, landing it a spot on Inc Magazine’s list of fastest-growing US companies.
It's ... Name that Flyover city!
Useless information that is strangely fascinating.
Today, we’re going to give you three groups of unrelated people who happen to have been born in the same city. Can you name the city each group was born in?
Kurt Vonnegut, David Letterman, John Dillinger
Jean Harlow, Tom Watson (golfer), Kate Spade
Thornton Wilder, Chris Noth, Chris Farley
Click here for today's answers
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