Billed as "the first of its kind between two large U.S. health systems," a recently announced collaboration between the Cleveland Clinic and MedStar Health (Georgetown University Hospital, among others) will help speed medical inventions to market, as a recent Washington Post article states.

Titled "Cleveland Clinic, MedStar join forces to move medical technologies to market," the article goes on to say that moving medical technologies to market is a relatively new endeavor for health systems and academic medical centers. But Cleveland Clinic Innovations has licensed more than 250 technologies and started 35 new companies to market products.

"The Cleveland model is a combination of royalties from licenses of technologies to established companies and the sale of shares in spin-off companies. Royalties from licensing generate about $10 million yearly, but overall revenue is increasing significantly," Chris Coburn, executive director of Cleveland Clinic Innovations, is quoted in the article as saying.

"Reinventing the wheel everywhere isn't as favorable an option as forging collaboration," Thomas J. Graham of Cleveland Clinic Innovations states. "This allows us to open up a larger-scale collaboration that can be helpful in improving patient access, getting clinical answers and expanding innovation."

Read the full prognosis here.