RT Book, Section A1 Graham, Thomas J. SR Print(0) ID 1150321780 T1 Products T2 Innovation the Cleveland Clinic Way: Powering Transformation by Putting Ideas to Work YR 2018 FD 2018 PB McGraw-Hill Education PP New York, NY SN 9781259582950 LK accessmedicine.mhmedical.com/content.aspx?aid=1150321780 RD 2024/11/13 AB The ultimate goal of mission-driven innovation is the improvement and extension of human life. There is a genuine idealism at the core of our work. Yet some people blame the rising cost of medical technology for the nation’s current crisis in healthcare costs, which is not a fair accusation. In fact, the contrary is true. The virtuous cycle of medical innovation actually helps to control the cost of healthcare delivery. To help make this case, I’m going to describe the products of the virtuous cycle. I’ll break them down into four principle domains and review some of the obstacles that must be overcome before products find their way to patients’ bedsides. I’ll make the case that medical innovation is a worthwhile pursuit from an economic standpoint. Finally, I’ll introduce a process that is in many ways the social counterpart to mission-driven innovation: value-based innovation.