By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    health benefits of taking a vacation to reduce stress
    Relaxing European Destinations to Reduce Stress Risks to Health
    October 11, 2021
    pain management tips
    Managing Pain Differently: Alternative Pain Management Techniques
    January 12, 2022
    5 Ways to Promote Wellness in Your Home
    April 12, 2022
    Latest News
    Hygiene Beyond The Clinic: Attention To Overlooked Non-Clinical Spaces
    August 13, 2025
    5 Steps to a Promising Career as a Healthcare Administrator
    August 3, 2025
    Why Custom Telemedicine Apps Outperform Off‑the‑Shelf Solutions
    July 20, 2025
    How Probate Planning Shapes the Future of Your Estate and Family Care
    July 17, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    Alzheimer’s Preventable with Lifestyle Changes
    August 30, 2011
    Junk Food isn’t Cheaper After All
    September 30, 2011
    FDA Accepts NDA for VIVUS’ Qnexa
    November 4, 2011
    Latest News
    How IT and Marketing Teams Can Collaborate to Protect Patient Trust
    July 17, 2025
    How Health Choices and Legal Actions Intersect After an Injury
    July 17, 2025
    How communities and healthcare providers can address slip and fall injuries with legal awareness
    July 17, 2025
    Let Your Lawyer Handle the Work Before You Pay Medical Costs
    July 6, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Sharing Is Caring: Pediatric Hospitals Work Together for Innovation, Commercialization
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > Finance > Sharing Is Caring: Pediatric Hospitals Work Together for Innovation, Commercialization
BusinessFinanceHospital Administration

Sharing Is Caring: Pediatric Hospitals Work Together for Innovation, Commercialization

Deanna Pogorelc
Deanna Pogorelc
Share
6 Min Read
SHARE

pediatric hospitalsFirst published on MedCityNews.com. Children’s hospital leaders in Ohio recently brought to light an “unlimited supply” of unsolved problems in pediatrics that certainly isn’t going to solve itself.

pediatric hospitalsFirst published on MedCityNews.com. Children’s hospital leaders in Ohio recently brought to light an “unlimited supply” of unsolved problems in pediatrics that certainly isn’t going to solve itself. In response, they and others have have increasingly turned to collaboration to bring new medical treatments to children.

In Ohio, six children’s hospitals have banded together under the Ohio Children’s Hospital Association, and one of their goals is to learn from each other in an area where they typically haven’t worked together — commercialization.

“Pediatrics is small, so if we want to trial a new product, if we want to study something, we typically don’t have enough numbers in one place to really get meaningful answers,” said Carrie Baker, director of public policy and advocacy at OCHA, at the annual meeting of trade group BioOhio last week. “But together, we have done some amazing things.”

More Read

Person-Centered HealthCare: Cost Transparency Helps Patients Shop For Medical Care
Transforming Medicaid via the Medical Home Model
The Power of LinkedIn Showcase Pages
Social Media and Healthcare: Creating a Healthy Relationship
Only 18 percent of Hospital CEO’s are Women

Matt McFarland, director of the Office of Technology Commercialization at the Research Institute at Nationwide Children’s Hospital, pointed out that sometimes having such small populations is a boon to innovation.  The FDA’s orphan designation program, for example, gives seven years of marketing exclusivity to companies that have drugs approved for conditions that affect fewer than 200,000 people. Other incentives like the Orphan Products Grants Program and fast track status have likely played into the growth of new drugs for rare diseases over the last decade and a half.

But it also means that the market for new innovations is acute, so there’s a big gap between the hospitals and the commercial sector, McFarland said. To bridge that gap, many of the OTC’s efforts at Nationwide have focused on de-risking technologies.

“We have money that we’ve set aside that we keep as dry powder for when we see one of these innovations come into our office that has potential but it needs worked out,” he said. “We’ve also invested in this bench-to-bedside infrastructure, if you will. I’m talking about the actual capabilities to manufacture your product for clinical trials, the ability to have infrastructure that engages with the FDA and guides your tem through the pre-IND and IND meetings.”

Funds are limited though, so McFarland said the spirit of bootstrapping is also key to getting projects off the ground. “You find yourself talking to companies, seeing if they’re willing to take some piece of equity in a new venture for that early prototype work,” he explained. “Or, is there a strategic relationship you can develop with a university who might have that engineering capability?”

Nicki Robinson, assistant vice president at the Cincinnati Children’s Center for Technology Commercialization, pointed to a potential next step in the process of spurring innovation through a global pediatric innovation center in Ohio. She mentioned a plan in response to a request for proposal recently released by Ohio’s Third Frontier Program that she expects the group will submit sometime next year.

“What we’ve been working on is a proposal that we will put in at some point that addresses this idea of a global pediatric innovation center […] that would take the unique assets that each one of our organizations bring to the table and really elevate that,” she explained. The idea includes three pieces: An early-stage, proof-of-concept development fund; a pediatric venture fund that would invest in pediatric startups in Ohio; and creating one point of entry for industry into many of the pediatric hospitals in the state.

These efforts aren’t unique to Ohio, of course. Children’s Hospital of Philadelphia formed a partnership with venture capital fund Osage University Partners earlier this year to fund the translation of research from bench to bedside. The Institute for Pediatric Innovation is a working consortium of four pediatric hospitals and several industry partners to advance development of new drugs and medical devices for children.

But improving childhood wellbeing stretches much further than funding for new products and collaboration among hospitals. It’s hard to improve outcomes without considering the role of government-sponsored child welfare, jobs and local developmental disabilities services, said Greg Moody, director of the Governor’s Office of Health Transformation.

“If those are connected to schools and care-providing partners, we have a real opportunity to knit together a package of services,” Moody said. “Why would the county boards not work directly with the local hospitals? You’re seeing the same child. What we’re working on now is […] how do you create an environment where that type of collaboration is the norm?”

Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

non-clinical spaces
Hygiene Beyond The Clinic: Attention To Overlooked Non-Clinical Spaces
Health Infographics
August 13, 2025
senior care at home
Breaking The Chain Of Infection For Seniors At Home
Infographics Senior Care
August 13, 2025
medical devices
The Lifecycle Of A Medical Device: From Concept To Disposal
Infographics Technology
August 13, 2025
Why Delaying Care For Minor Injuries Can Lead To Bigger Problems
Infographics Wellness
August 13, 2025

You Might also Like

BusinesseHealthMobile HealthTechnology

The Future of Mobile Healthcare Is Like a Warm Marshmallow

December 30, 2014

Healthcare Costs Involved in Treating Drug Addiction

March 31, 2016

Medical Device Tax Costs 1,000 Jobs

December 1, 2011

Cool Facts About Big Data in Healthcare

March 25, 2015
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?