“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