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HomeTechnologyUniversity Hospitals receives $10 million gift from The Veale Foundation – News-Herald

University Hospitals receives $10 million gift from The Veale Foundation – News-Herald

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University Hospitals

A $10 million gift from The Veale Foundation is expected to help University Hospitals create a world where health care’s biggest problems collide with the world’s best technology in a culture of innovation.

With the funding, UH will establish the Veale Initiative for Health Care Innovation at University Hospitals.

“With the gift, we will develop a novel approach to define, clarify and prioritize health care’s biggest problems and then find, test, and scale solutions to those problems,” said Dr. Peter J. Pronovost in a news release.

Pronovost, who will lead the new initiative, is UH’s chief quality and clinical transformation officer, and Veale Distinguished Chair in Leadership and Clinical Transformation.

The Veale Initiative will pilot groundbreaking innovations and technology with the ultimate goal to transform the entire sector, the release stated.

“We will scale these solutions across UH and other health systems, with the goal of leveraging the power within and between people to radically transform health and health care,” Pronovost said.

He explained that UH has excelled in improving quality and safety through disciplined problem solving and rapid learning.

“Yet health care’s biggest problems, like reducing hospital costs, addressing health care workforce challenges or keeping people healthy at home rather than healing in hospital, require new approaches,” Pronovost stated.

“Patients, payors, and care givers can expect greater ‘value’ in their overall patient experience,” he said. “We seek to deliver that by reducing costs, enhancing quality, improving usability of products and services, and eliminating waste.”

The paradox in U.S. health care is that we have high costs yet, when compared to other developed nations, our outcomes are worse, explained UH Board Chair John Morikis.

“Modern health care as it exists today is far from ideal for patients and is draining the U.S. economy,” Morikis, who also is chairman and CEO at The Sherwin-Williams Co., stated in the release. “The Veale Initiative for Health Care Innovation is a truly unique undertaking, with the potential to rebalance the entire equation, ensuring better, more affordable care for patients and improved financial stability for health systems.”

“This initiative – a big idea with potential for incredible impact – is in complete alignment with the vision Tink Veale had for his foundation and Northeast Ohio,” said The Veale Foundation Chairman Daniel P. Harrington. “If Tink were alive today, he would have found a kindred spirit in Dr. Pronovost and admired him as a fellow exemplar of the difference transformative leadership can have on our community and world.”

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