Healthcare Commercialization Programs: Improving the Efficiency of Translating Healthcare Innovations From Academia Into Practice

• Main Authors: John M. Collins, Ofer Reizes, Michael K. Dempsey
• Format: Article
• Language: English
• Published: IEEE 2016-01-01
• Series: IEEE Journal of Translational Engineering in Health and Medicine
• Subjects: Valley of death; I-Corps; commercialization; translational research; healthcare innovation
• Online Access: https://ieeexplore.ieee.org/document/7579167/

Academic investigators are generating a plethora of insights and technologies that have the potential to significantly improve patient care. However, to address the imperative to improve the quality, cost and access to care with ever more constrained funding, the efficiency and the consistency with which they are translated into cost effective products and/or services need to improve. Healthcare commercialization programs (HCPs) are described and proposed as an option that institutions can add to their portfolio to improve translational research. In helping teams translate specific healthcare innovations into practice, HCPs expand the skillset of investigators and enhance an institution's innovation capacity. Lessons learned are shared from configuring and delivering HCPs, which build on the fundamentals of the National Science Foundation's Innovation Corps program, to address the unique challenges in supporting healthcare innovations and innovators.