Partnerships that are making a difference
Intermountain Healthcare is eager to discover the best new ideas, solutions, and innovators. We harness internal creativity and external disruption to continually improve outcomes, longevity, and overall wellbeing.
Intermountain’s mission is to help people live the healthiest lives possible. The following strategic business partnerships and solutions support this mission.
Healthbox – Accelerator and Foundry Programs
Intermountain Foundry supports employee innovation by providing a structured framework that turns employee ideas and near-market concepts into commercial businesses.
The Intermountain Foundry uses the proprietary, market-tested Healthbox curriculum to help employee inventors, innovators, and entrepreneurs determine the commercial viability of their business concepts and scale them throughout Intermountain Healthcare and the broader healthcare industry.
Through a structured eight-week process, employee innovators refine their business concept, validate the market opportunity, identify product development or service needs, and develop a plan for growth including go-to-market strategy and funding needs. Employees also have the opportunity to seek investment following a rigorous planning process.
Salt Lake City Healthbox Accelerator
Intermountain Healthcare and Healthbox have announced the launch of their unique healthcare innovation and venture model that harnesses internal creativity and external disruption. While the physical structure for this endeavor is being developed in Salt Lake City, adjacent to the system’s flagship medical center, the Innovation at Intermountain initiative is already stimulating collaboration between inventors, entrepreneurs, and healthcare industry experts alike to improve quality and service while making care more affordable.
The Accelerator program has selected 10 early-stage companies to participate in the inaugural Salt Lake City Healthbox Accelerator. Each of the 10 startup companies—nine from Utah and one from Massachusetts—has been offered an initial seed investment of $50,000 from Healthbox, and is participating in the three-month business accelerator in Salt Lake City. They will have unique access to Healthbox partners and a network of global experts supporting their growth in a complicated healthcare system.
In addition to announcing the 10 startups in the Salt Lake City Healthbox accelerator, Healthbox also revealed that it has set aside an additional $300,000 for potential new investments in one or more of the 10 companies participating in this initial Utah-based cohort.
Deloitte and Intermountain Healthcare
Life sciences companies are ready to embrace real-world data analytics across the business model. In the new paradigm, life sciences organizations should consider transitioning from selling a pill to selling wellness. They should move from a one-size-fits all approach to tailored, market-specific development, and consider managing and utilizing analytical tools and data that build capabilities to reinvigorate product investments.
The need for life sciences companies to understand outcomes generated by their own data is becoming more important. Many have invested millions in finding ways to enhance development. Even with this significant investment, life sciences organizations struggle to make good use of the data and require insights to survive in the market.
ConvergeHEALTH by Deloitte and Intermountain Healthcare addresses this challenge. This landmark collaboration bridges the divide between industry stakeholders, with a critical need for data-driven insights, and entities that capture and truly understand the context in which it was captured.
Intermountain Cancer Genomics uses genetic mapping to develop personalized treatment options for cancer patients. At our in-house genomics laboratory, we analyze the DNA and genetic makeup of a cancer patient’s tumor. Then we can identify mutations to determine why and how the tumor is growing and what can be done to treat it. Our team meets with physicians and researchers from around the world to discuss each case and explore every possible treatment option. If a mutation is identified and a medication is available for that specific mutation, we obtain the medication using our unique drug navigation program. While we can’t match every patient with an effective medication every time, about 70 percent of our patients have been matched with new drugs.
Cerner and Intermountain Healthcare
Understanding that the future of healthcare requires us to make meaningful changes, leaders from Intermountain Healthcare and Cerner are committed to finding ways to advance the science and practice of medicine and improve patient care. Moreover, Cerner and Intermountain have been nationally recognized as innovation leaders, receiving acknowledgement in 2013 by Forbes and InformationWeek, respectively, as two of the most innovative companies in the U.S.
The collaboration between Intermountain and Cerner will leverage Intermountain’s important work, including its industry-leading clinical processes and data warehouse, and build a new set of tools for a post-fee-for-service world in areas such as activity-based costing.
Theranos’ patented technology can analyze samples as small as one thousandth of the size of a typical blood draw. Patients can have results in a matter of hours. This means a faster diagnosis to support better, more informed treatment. Intermountain Healthcare signed on with Theranos to research deploying its services at their facilities. The company has also generated revenue by working with drug companies in clinical trials to provide quicker results for blood tests.
Long post-operative hospital stays are expensive for health systems. Because surgeries are almost always paid for on a DRG-basis, hospitals generally receive no additional compensation when patients spend extra days in the hospital. On the contrary, one of the best ways for hospitals to profit from surgeries is to discharge patients quickly—as long as they can do so without increasing post-operative complications or readmissions.
Intermountain has already done rigorous clinical research into strategies that reduce post-operative length-of-stay. If Intermountain can develop a program that consistently reduces post-operative bed days and complications, it will increase its profits on surgical patients. And if this program can be sold to other healthcare systems, it will become a new source of revenue for Intermountain Healthcare. Working with Savvy Sherpa, a novel engineering/think-tank organization with access to innovative technologies, we are considering building a new technology/services company to develop and distribute a program to reduce hospital length-of-stay and readmissions by increasing patient activity.
Three leading health systems: Intermountain Healthcare, Catholic Health Initiatives, and Fairview Health Services, are part of a new specialty pharmacy network, Excelera Corp., that will allow better access to limited-distribution drugs for patients with complex conditions who require specialty drugs. These health systems provide committed resources, expertise, and investment capital to support its model of integrated care for patients who require specialty drugs. Specialty pharmaceuticals are expensive drugs that may require special handling and administration and are often used to treat the most ill and clinically complex patients.
The Excelera network will negotiate on behalf of its member organizations to remove barriers to specialty drug access and monitoring. Patients and providers of health systems in the Excelera network will benefit by working with a specialty pharmacy that is a member of their care team, can easily access specialty pharmaceuticals, and knows the patient’s care plan.