Three Questions with Mark Coticchia, Vice President and Chief Innovation Officer, Henry Ford Health System
“I see hospitals as an untapped resource for economic development.” Mark Coticchia weighs in on three questions with CastLight Search
CastLight Search: You have spent your entire career in technology and innovation. What was your vision that brought you to Henry Ford Health System in the Chief Innovation Officer role?
Coticchia: To take my professional experience and success from the academic setting and apply it in a hospital environment.
- Monetize intellectual assets: know-how and data;
- Create novel industry partnerships; and
- Leverage core competencies into the international marketplace.
CastLight Search: Defining emerging leadership roles is always difficult because they are in a state of change. What has been your biggest challenge in the chief innovation role? Are these challenges universal to innovation programs or unique?
Coticchia: The ability to be successful in organizations (Eds & Meds) with operating systems that are not functionally designed and resourced or to support my venture activities.
CastLight Search: How do you see the role evolving or what do you see as the future of your role?
Most hospitals do not have innovation (commercialization) functions. I see hospitals as an untapped resource for economic development. I believe that hospital care transformation activities will be augmented with commercialization and new venture functions in order to generate new revenue streams and enhance institutional reputation.
Bonus question: what are you the most proud of accomplishing in your role?
Two bonus answers:
- Having commercialized numerous new products and services that have benefited society (i.e. changed people’s lives for the better).
- Mentored a dozen professionals in my field that lead commercialization efforts at major research and medical institutions.
Megan Casey is a partner at CastLight Search