LA PALMA, Calif., Sept. 28, 2017 /PRNewswire-USNewswire/ -- The Innovation Institute is pleased to announce that Mercy Health, a Catholic health ministry serving Ohio and Kentucky, has signed an agreement to become its sixth member owner.
The Innovation Institute is an independent for-profit LLC. It is structured to facilitate innovation among physicians, employees of health care organizations, and industry partners across health systems. Mercy Health joins health system member owners Providence St. Joseph Health, Bon Secours Health System, Children's Hospital of Orange County, Franciscan Missionaries of Our Lady Health System, and Avera Health.
"We are committed to transformative health care, and a focus on innovation is part of this commitment," said Mercy Health President and CEO John Starcher. "As a member owner of The Innovation Institute, we now have a place where the talented people across our health system can go to foster their ideas and turn them into new and better medical solutions."
The Innovation Institute President & CEO Joe Randolph said, "We are thrilled to have been selected to lead the way in innovation and look forward to tapping Mercy Health's doctors, nurses, and staff with ideas that will have a positive impact in Ohio and Kentucky, and across the U.S." He added, "Mercy Health is a like-minded organization that embraces emerging technologies and innovation in patient care. We look forward to collaborating with them."
Mercy Health is a 2017 Most Wired Advance Health System as designated by the American Hospital Association.
About Mercy Health
Mercy Health is the largest health system in Ohio and one of the top five employers in the state, with more than 33,500 employees serving communities throughout Ohio and in Kentucky. Mercy Health provided care for patients more than 6.3 million times in 2016. The system includes assets of $6.3 billion and nearly 500 care sites, including 23 hospitals, eight senior living communities, five hospice programs and seven home health agencies. Its clinically integrated network, Mercy Health Select, coordinates more effective and efficient care for more than 200,000 patients, saving money for taxpayers through the Medicare Shared Savings program. In keeping with its mission to improve the health of its communities, Mercy Health provides nearly $1 million per day in community benefit services. For more information, visit www.mercy.com or connect with Mercy Health on Facebook, LinkedIn, Google+, Pinterest and Twitter (@LivingMercyHlth).
About The Innovation Institute
The Innovation Institute is an independent, for-profit LLC structured to cultivate innovative solutions to transform healthcare delivery. The Innovation Institute is owned by non-profit health systems. This collaborative taps into physicians, employees, and industry business partners to incubate and commercialize new medical products and ideas. Comprised of three distinct elements – an innovation lab, an investment fund, and a shared services group (Enterprise Development Group), The Institute strives to "do more, with less, for more people." For more information, visit www.ii4change.com
SOURCE The Innovation Institute