mobcon dh 2015 - gary fingerhut - innovating healthcare

Innovating Healthcare: Exchanging World-Class Solutions

April 8, 2015

Gary Fingerhut

Executive Director, CC Innovations

Key Take-Aways

• Cleveland Clinic Innovations

• Evolving Healthcare Landscape

• Innovating Healthcare: Exchanging

World-Class Solutions

Cleveland Clinic Innovations

Cleveland Clinic Empathy Video

Cleveland Clinic

• 5.5 M Patient Visits

• 43,430 Employee Caregivers

• 27 Institutes Providing Care in

120 Subspecialties

• Locations

• Main Campus

• 8 Community Hospitals

• 16 Family Health Centers in NE Ohio

• Facilities in Florida, Nevada, Toronto & Abu Dhabi

• EMR Leader – My Chart

• Top 4 Hospital by U.S. News & World Report

Cleveland Clinic Culture

"We are considering not only our duty to the patient of today, but

no less our duty to the patient of tomorrow."

-George Crile, Sr., MD, co-founder, Cleveland Clinic

Quality. Innovation. Teamwork.

Service. Integrity. Compassion.

We welcome change, encourage invention and continually

seek better, more efficient ways to achieve our goals.

Areas of Focus

• Commercialization & Tech Transfer

• Global Healthcare Innovations Alliance

• Medical Innovation Summit

• Centers [GCIC & NCAI-CC]

Cleveland Clinic Innovations

Business Imperatives

• Translating innovations that provide

better patient care

• Delivering exceptional inventor

satisfaction

• Optimizing financial outcomes

A Comprehensive Approach

Mine for ideas with clinically aligned Institute Innovation Managers

Engage clinical and technical inventor peers to evaluate need

Assess the commercial viability and build a business case

Develop within a domain specific incubator for enhancement, then market

Manage negotiations to create spin-offs, licenses and equity partnerships

Take idea through translation to improve patient care

So How Do I INVENT?

** *

A 2015 Medical Innovation Summit

Innovation Centers at

Cleveland Clinic

Translating Research to Development

and Commercialization

• 2,600 Patent Applications

• 450 Royalty Licenses

• 71 Spin-Offs

• $799M in Equity Investments

• $69M to Inventors

• $167M in State Grants

• 1,200 Jobs Created

• World-Wide Recognition

Innovations Scorecard

Healthcare Environment

Inflection

Point

Eco

no

mic

s

Inventions by Type 2014

Medical Device50%

Health IT23%

Therapeutics & Diagnostics

22%

Delivery Solutions

5%

Portfolio Companies: 712000-

2003

2004-

20052006 2007

2008-

20092010 2011 2012 2013 2014

ART SARL CleveX Clear Catheter Solutions

ATI Congruent

Medical

NaviGate iComet iVHR RenovoBiosciences

Adeo

AxioMed IntElect Tolera CardioNomic OptoQuest Image IQ Custom Arthroplasty

Solutions

FlexLife

Health

Shield Biotech

Centerline Medical

CardioMEMS Merlot Revasc Cleveland Heart

Perfusion Solutions

SironRX Custom

Ortho

Solutions

Infuseon Jace Medical

VBT

Cleveland

BioLabs

CSF Therapeutics

Alios

Biopharma

Navis Renovo

Neural

YouDocs

Beauty

Enspire

DBS

Ion-VAC Cancer Genetics

Emanate Wireless

Peritec PrognostiX Juventas Clear

Catheter

Systems

Buckeye

OcularEnforcer PluronX i360Medical Cleveland

Diagnostics

ValveXchange OrthoMems AngioQuest Cleveland HeartLab

Sivan Panacela* RelateCare

BioSil,

USAVioQuest Explorys Incuron* Rindex Talis

Z-Kat Zin

Medical

Intellis I-Lyte IPPC

Ridgeway Simbionix Clear

Ventric

Esperion

Therapeutics Non-operatingDeviceDiagnosticsHIT Services

Monetized

Dissolved*CBLI Spin-off

“The future belongs to those who seize the

opportunities created by innovation."

Delos M. Cosgrove, MD

CEO & President

Cleveland Clinic

Accessed through Cleveland Clinic’s Innovations

Incubators, ADEO is a premier Digital Center of

Excellence (DCoE) allowing the inventions of Global

Healthcare Innovations Alliance Partners to be developed

into products that are commercialized to a global market.

Offerings:

• App Accelerator - People, process and platform technology that

provides a structured end-to-end lifecycle for ideation, prototype,

development, implementation, through commercialization.

• Marketplace – e-Commerce marketplace that provides a suite of

administrative and clinical solutions developed by the researchers,

physicians and administrators from Cleveland Clinic and participating

members of the Alliance network.

VALUE OUTCOMES

GOALS

MISSION

Optimized Portfolio

Improve

FocusMinimize

Risk

Reduce

Time to

Market

Sustain

Results

Inspire, streamline and

accelerate solution delivery and

commercialization to serve

the mission and objectives of the

Global Healthcare Innovations Alliance.

HIT INNOVATION AREAS: Health Information Management • Patient Engagement • Provider Engagement • Medical Device (IoT) • Mobile Medical Apps • Population Health Management • Administration Services

Re-used Assets

Applied Best Practices

Accelerated Development

Adopted Standards

Enforced Compliance

Applied Market Insights

Measured KPIs

Developed SMEs

Centralized PLM

Leveraged Partnerships

Identified Synergies

Refined Marketability

Expedited Filtering &

Validation

Digital Center

of Excellence

Certified QualityDelivered Outcomes

Blueprint

ADEO – App Accelerator

App Accelerator

Product

Development

Enablers

R

E

U

S

E

H

A

R

V

E

S

T

Regulatory

Compliance

Design &

Components

Stakeholder

Engagement

Valuation &

Metrics

Visual

Prototyping

Proof of

Concept

Effort

EstimationBusiness

Valuation

INVENTION PORTFOLIO

Why the ADEO Marketplace?

• Additional Commercialization Channel

– Hosted Products

– Non-Exclusive IP

• Short Time to Market

• Transaction Convenience

• Lead Generator

• Customer Satisfaction

• Cross Selling Opportunities

• Increased Market Exposure

ADEO Marketplace

Product Categories

Desktop

• Products that can be purchased and used on a desktop (Windows or Mac)

Mobile

• mHealth applications that can be used on Apple (iOS) or Google (Android) devices.

Configurable

• Desktop or Cloud (web-based) solutions that require integration with EMRs or other HIS.

Services & Toolkits

• Healthcare best practice and implementation services.

Portfolio Highlights: Health IT

Advanced visualization and

documentation improvement

of the EMR

Phase I: 18 month project to

develop and deliver for CC

Phase II: Commercial launch

planned in 2015

2011

Awarded GCIC Grant

$500k

2012

$5M Seed Funding

8 FTEs

2013

Phase I – Cleveland Clinic

Implementation

16 FTEs

2015

Phase II – Commercial

Launch

2008

Disclosed

iVHR

Integrated concussion

management

10,000 athlete

assessments

across 70 organizations

2012

Newco Formed,

CC Seed Investment

2013

Clinical Validation,

Distribution Channel Enabled

2010

Disclosed

iComet

2014

Apple Co-Marketing

Anesthesia data

management and

decision support

Deployed in over 300

operating rooms

across 20 hospitals

2012

Newco Formed,

CC Seed Investment

2013

$3.3M Series A

12FTEs

2011

Disclosed

Talis Clinical

2014

Partners w/ Microsoft

2015

Expansion into ICU

Advanced Cognitive

Computing

Support Clinical

Documentation with

Evidence Based

Guidance

2012

Joint Development

Agreement

2013

Prototype Demonstration

IBM Watson

2014 2015

Clinical Validation Commercial Release

innovations.clevelandclinic.org

@Gary_Fingerhut

@CCInnovations

@on_adeo