Somerville, Mass.-based Mass General Brigham's innovation strategy includes digital transformation and artificial intelligence but largely focuses on therapeutics.
That is the nature of having a $2.4 billion research budget, according to Chief Innovation Officer Chris Coburn.
"We're No. 1 in academic research," Mr. Coburn told Becker's. "The stripe of the government funding very logically leads you to drug development, but it's definitely not exclusive."
While more than half of his office's budget goes toward therapeutic development, the rest includes devices, diagnostics, and digital and AI. It overall comprises a heavy focus on radiology and neurology.
Mr. Coburn pointed to recent successes including AstraZeneca acquiring Mass General Brigham endocrine spinoff Amolyt Pharma for over $1 billion; partnering with Best Buy Health on "hospital at home"; developing vitamin E-infused hip and knee implants to extend the life of the devices licensed to Zimmer Biomet and CoolSculpting aesthetics technology acquired by Allergan (and subsequently AbbVie); and creating a gene and cell therapy institute.
"But AI is an enormous priority for MGB and for our office," Mr. Coburn said. He cited the example of the health system's adoption of Abridge's clinical documentation technology for 800 providers.
Mr. Coburn's department also manages an investment fund of nearly $500 million.
"So if you look at our portfolio, that piece of our total investment pool, every single company in there has an AI capability and is built on AI," he said. "We probably have a dozen technologies that are just on the cusp, partly because the market's been so down. I personally believe, hopefully, we're going to be putting points up one after another. But I also think it's about being thoughtful."