Becker's Hospital Review

29 INNOVATION UPMC innovation arm allots $1B for life sciences drugs, devices By Andrea Park U PMC's innovation, commercialization and venture cap- ital arm plans to funnel a total of $1 billion into the de- velopment of new drugs, diagnostics and devices by 2024, the Pittsburgh-based health system announced Jan. 14. With the funding, UPMC Enterprises will collaborate with and invest in partners pursuing scientific and commercial work that aligns with UPMC's own life sciences research and devel- opment. "The common link among our investments will be that each has a direct and powerful impact on how we care for patients, while generating a significant financial return," Jeanne Cuni- celli, executive vice president of UPMC Enterprises, said in the announcement. "As important as the funding is the un- paralleled scientific and medical expertise backing our ideas, thanks to resources provided by UPMC and our academic partner, the University of Pittsburgh." The $1 billion total includes the $200 million UPMC commit- ted to a partnership with the University of Pittsburgh in 2018. That investment established the UPMC Immune Transplant and Therapy Center, an eight-story hub for immunotherapy research featuring lab and office space, as well as space for startups and other industry partners. n How Ochsner's focus on social determinants will continue to lead its innovation efforts By Andrea Park N ew Orleans-based Ochsner Health System has been innovating around population-level social determi- nants of health since it was founded in the 1940s, well before value-based care had become a widespread pri- ority of the healthcare industry. At the time, the inclusion of social factors in a patients' overall care was "a really new and radical idea," Phil Ora- vetz, MD, Ochsner's chief population health officer, told the American Medical Association in an interview last Decem- ber. He added, "But they innovated in that model, and it's been growing ever since." Now, the rest of the industry is finally beginning to catch up with Ochsner's population health strategy. "We're finally seeing a shi from an illness model to a wellness model," Dr. Oravetz said. "We're finally collecting social determinants of health data on our patients and we're using that data to de- velop interventions to keep people well and healthy." Many of Ochsner's innovation efforts still revolve around the premise of holistic health. For example, a new EHR module at the health system tracks social determinants and environ- mental factors to identify patients in need of food, transpor- tation and other health-related needs. "We're offering those types of services now," Dr. Oravetz told the AMA. "We're partnering with our communities, with our local governments and with our payers to do this in a coordi- nated fashion." Wanda Robinson, MD, associate medical director for primary care in Ochsner's West Bank region, added, "Sometimes we focus on the physical aspects of the patient and do not realize or recognize that there are other components to that individ- ual...It would be wonderful if we had the time to really meet the patients where they are and to be able to address their real concerns and what they perceive as being the best version of themselves or what they perceive their health goals are." n S P E C I A L G U E S T K E Y N O T E S BECKER'S HOSPITAL REVIEW 9TH ANNUAL CEO + CFO ROUNDTABLE November 9-11, 2020 | Hyatt Regency, Chicago REGISTER NOW! beckers.dragonforms.com/CEOCFO2020 | registration@beckershealthcare.com | 800.417.2035 Bill Clinton 42nd President and the United States and Founder, Clinton Foundation George W. Bush 43rd President and the United States and Founder, George W. Bush Presidential Center Arianna Huffington Founder, The Huffington Post; Founder and Chief Executive Officer, Thrive Global 100 CEOs AND 38 CFOs FROM TOP HOSPITALS AND HEALTH SYSTEMS SPEAKING; 207 HEALTHCARE EXECUTIVES IN TOTAL

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