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
    bowl of vegetable salad
    Raw Foods: benefits and harms
    November 9, 2021
    pros and cons of the keto diet
    Read This Before You Follow the Keto Diet
    May 18, 2022
    spinal cord injuries
    4 Potential Causes of Spinal Cord Injuries (and How to Seek Compensation)
    May 25, 2022
    Latest News
    Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
    May 16, 2025
    Learn how to Renew your Medical Card in West Virginia
    May 16, 2025
    Choosing the Right Supplement Manufacturer for Your Brand
    May 1, 2025
    Engineering Temporary Hospitals for Extreme Weather
    April 24, 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
    4 Reasons Why Medical Device Compliance Matters
    May 22, 2020
    What To Know About The Importance Of Healthcare Marketing
    November 23, 2019
    healthcare courses
    6 Supplemental Courses in Healthcare to Support Your HR Degree
    August 20, 2021
    Latest News
    Building Smarter Care Teams: Aligning Roles, Structure, and Clinical Expertise
    May 18, 2025
    The Critical Role of Healthcare in Personal Injury Recovery: A Comprehensive Guide for Victims
    May 14, 2025
    The Backbone of Successful Trials: Clinical Data Management
    April 28, 2025
    Advancing Your Healthcare Career through Education and Specialization
    April 16, 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
Last updated: November 15, 2013 9:00 am
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

Financial Services Shows the Way for Healthcare (Again)
Top Money-Saving Tips for Medical Laboratories
High Quality, Low Cost HealthCare Video Interview Series: Lou Caputo Talks Hand Hygiene Data Tracking
The Most Active VCs in Healthcare Since 2012
Health Care Buzz Today

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

Do You Grind Your Teeth at Night? Here’s How Night Guards and TMJ Treatments Can Help
Do You Grind Your Teeth at Night? Here’s How Night Guards and TMJ Treatments Can Help
Dental health
May 21, 2025
The Secret To A Confident Smile: Top Tips For Better Teeth
The Secret To A Confident Smile: Top Tips For Better Teeth
Dental health
May 21, 2025
Clinical Expertise
Building Smarter Care Teams: Aligning Roles, Structure, and Clinical Expertise
Health care
May 18, 2025
Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
Health
May 15, 2025

You Might also Like

Nurses Can Practice Medicine — Only if They Work for Government

April 18, 2011
e interventions
BusinessFinanceHealth ReformPublic Health

Healthcare Progress Depends On “E Interventions”

July 10, 2014

How will Preventative Care Initiatives Impact Hospital Staff?

October 26, 2015
Medical Necessity
BusinessHospital Administration

Best Denial Management Strategy: Avoid Denied Claims

January 30, 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?