Innovation is essential to the future of academic medicine. We will develop a culture of innovation where discoveries, products, and services are converted into meaningful value.
Statement of Importance:
VUMC has a long history of innovation in research, education, and clinical care. By embracing innovation across these missions, we can remain a leader in academic medicine. Seeking input from the Vanderbilt community—patients, trainees, staff, and faculty— as well as external partners, will enable us to develop innovative solutions to unmet needs.
- Our collaborative culture to convert ideas, discoveries and services into meaningful innovation
- Launching drug discovery company, Ancora Innovation, in partnership with Deerfield Management (more)
- Being awarded $500K National Science Foundation grant for establishment of I-Corps site at the Wond’ry (more)
- Collaborating with Bayer, GE Healthcare and IBM to develop and commercialize new health care technology
- Investing capital in nPhase and IDBiologics
- Launching the Southeast Executives-on-Roster (SEC XOR) collaboration entrepreneurship start-up company matching program, and joining the similar AVX matching program (more)
- Launching of Nashville Biosciences (NashBio) and support of the organization’s commercialization efforts (more)
- Methods and tools that improve quality, outcomes and health
- Developing the Person-centeredness of Research Scale to assess the degree to which research reflects the needs, values and priorities of patients, families and communities.
- BioVU and bi-directional methods to connect fundamental discovery to health and disease
- Developing the drug repurposing initiative (more)
- Receiving $7.7 million grant from National Institutes of Health Center for Advancing Translational Sciences to study potential new therapy for C. diff infection (more)
- Participating in the National Institute’s of Health’s All of Us national research program (more)
- Devewloping the PredixVU gene-based association electronic catalog (more)
- Systems that promote customized, asynchronous learning
- Integrating QuizTime, a smartphone application developed at VUMC, to provide continuing medical education to physicians. In 2018, VUMC partnered with the Tennessee Department of Health to roll out workplace-based education using QuizTime to health care providers across the state for proper utilization of opioid and non-opioid therapies in managing pain (more)
- Interventional trials in population cohorts
- Completing of enrollment in the Southern Community Cohort Polypill Study. This study, led by Tommy Wang and Bill Blot, randomized 303 individuals in a study to determine if a polypill-based approach to primary cardiovascular disease prevention is feasible in a low socioeconomic status population. The study met its enrollment goal and completed enrollment in 2018. Data is being analyzed.
- Alternate revenue streams leveraging our leading business services thereby growing our reputation and financial flexibility to support education and research
- Forming Vanderbilt Health Professional Solutions (VHPS) in 2017. VHPS is the holding company for VUMC that houses our pharmacy, genomics and GPO businesses. These businesses have added a significant client base since launching in 2018. A few examples of the new clients are Dartmouth, Pfizer, Ono, University of Mississippi Medical Center, University of Nebraska and many others. These businesses are growing rapidly and projected to have approximately $80MM in revenue by 2024 and approximately $10MM+ in EBIDA. These businesses represent significant new revenue streams and earnings.
- Relationships that strengthen VHAN clinical programs, including joint ventures with clinicians and hospitals and next-generation insurance products
- Operating and providing clinical services at 14 retail Vanderbilt Health clinics within Walgreens stores located across Middle Tennessee on Nov. 14, 2017 (more)
- Implementing VUMC’s transparent PBM solution a couple of years ago, resulting in significant drug spend savings for all the VHAN network. The savings is in the double-digit millions. Note: VHAN team would have exact numbers.
- Transdisciplinary teams to innovate learning, research and health care
- Opening The Vanderbilt Institute for Surgery and Engineering, a dedicated lab space in Medical Center North, equipped with mock operating rooms, surgical robots, imaging devices, and tracking and surgical guidance systems, to foster trans-institutional interactions designed to result in new ideas and technologies to advance health care (more)
- Platforms for innovation incubators and accelerators
- Launching RadX, The Department of Radiology’s health care innovation and entrepreneurship incubator. In 2017 it hosted the inaugural RadX Innovation Challenge pitch event, which awarded three teams $10,000 each towards the design and implementation of the ideas presented (more)
- Developing The Wond’ry’s PreLaunch and PostLaunch course programs designed to give entrepreneurs the resources and skills necessary to successfully launch and operate a business venture
- Crowdsourcing methods and tools
- Launching and refining IdeaShare
- First launched in 2017 to crowdsource ideas addressing common challenges at VUMC. More than 2,300 people participated in IdeaShare in the form of voting, commenting or liking the nearly 250 ideas that were submitted (more)
- A second IdeaShare campaign was launched in 2018 around the use of artificial intelligence and predictive analytics to transform health care, which generated 140 ideas. Top ideas participated in an AI Day Innovation Challenge. The top three ideas each received $30,000 from the Evelyn Selby Stead Fund for Innovation for project implementation (more)
- A third campaign was launched in March 2019 to test patient-driven steering of the vision and roadmap for patient-facing HealthIT. The campaign solicited responses from 439 participants in the Advise Vanderbilt community. The top three design challenges that resulted included full access to health records, testing close to home, and virtual visits.
- Launching and refining IdeaShare