Fortune Magazine has ranked Intermountain Health as one of America’s Most Innovative Companies for 2023.
The national publication honors 300 companies that are “transforming industries from the inside out.” Intermountain Health ranked 85th on the list, which also included Nike, Apple, and Amazon.
For this list, the magazine used market research and data to build and rank companies on three pillars including innovation, process innovation, and innovation culture.
“Innovation is vital to everything we do at Intermountain Health and it’s how we continue to better serve our patients and communities,” said Dan Liljenquist, chief strategy officer at Intermountain Health. “It’s an honor for our efforts to be recognized alongside some of the biggest names in international business.”
One area Intermountain Health has seen a surge in innovation is telehealth services, according to Liljenquist. This includes virtual patient visits with caregivers which would normally happen in-person at an ER or urgent care. The technology allows specialists to consult with patients and physicians at facilities hundreds of miles away.
Telehealth also allows caregivers to administer care faster without having to transfer patients to another facility - saving time and money but more importantly allowing someone to receive care closer to home with a support network close-by.
Intermountain Health is also a recognized leader in reducing the cost of healthcare through a series of innovative projects. This includes a wide adoption of value-based care models, and helping create companies which lower costs in other part of care.
One of those companies is CivicaRx, which originated at Intermountain Health, as a way to avoid drug shortages and price spikes for commonly used generic drugs in hospitals. The company now includes other health systems around the country and is stepping into the retail market with inexpensive insulin for diabetics.
Intermountain Health currently operates in seven western states with 33 hospitals and 385 clinics.
To see the full list of companies featured in Fortune’s ranking, click here.