TOP 10: Most Beneficial Health Care Donations of 2014
The Chronicle of Philanthropy houses a directory of America’s top donors to the health care industry. While Mark Zuckerberg recently contributed $25 million towards the fight against Ebola, according to the database it did not make the top 10 largest donations that took place this year.
Here are the top 10 most beneficial health care donations of 2014.
10. Albert Marcotte – $30 Million
Founder and president of Advanced Management Systems, Albert Marcotte donated $30,000,000 to the Dana-Farber Cancer Institute/Harvard Medical School in Boston. The gift will create the Marcotte Center for Cancer Research.
9. Gordon and Betty Irene Moore – $50 Million
University of California at San Francisco received a $50 million pledge from Gordon and Betty Irene Moore to establish a women’s hospital, which will be named after Betty Irene Moore. Gordon Moore is a co-founder and chairman emeritus of the Intel Corporation, the technology company in Santa Clara, California.
8. Laura and Isaac Perlmutter Foundation – $50 Million
Devoted to cancer research and treatment, the Laura and Isaac Perlmutter Foundation pledged $50 million to the New York University Langone Medical Center. The NYU Cancer Institute will be renamed the Laura and Isaac Perlmutter Cancer Center. Isaac Perlmutter is chairman and former chief executive of Marvel Entertainment. The couple belongs to Langone’s Board of Trustees and has previously donated approximately $8 million to Langone.
7. Gordon Gund – $50 Million
Gordon Gund donated an estimated $50 million to the Foundation Fighting Blindness in Columbia, Maryland, matching gifts made to the organization to support research into new methods for treating degenerative diseases of the retina and restoring vision to those who are blind. Gordon Gund is the chief executive of Gund Investment Corporation and is chairman and co-founder of the Foundation Fighting Blindness. He lost his vision at the age of 30 in 1970.
6. Marc R. and Lynne Benioff – $100 Million
The University at San Francisco Benioff Children’s Hospital has received a pledge of $100 million over five years from Marc R. and Lynne Benioff to strengthen basic and clinical research and patient care. The gift will also benefit the hospital’s affiliate, Children’s Hospital and Research Center Oakland. Both organizations have been renamed after the couple. Marc R. Benioff is founder and chief executive officer of salesforce.com.
5. Henry R. and Marie-Josée Kravis – $100 Million
Henry R. and Marie-Josée Kravis donated $100 million to the Memorial Sloan-Kettering Cancer Center in New York to establish the Center for Molecular Oncology. The center will analyze the DNA of patients and their tumors to match patients with medicines. Henry R. Kravis is a founding partner of Kohlberg Kravis & Company. Marie-Josée Kravis is a member of the hospital’s Boards of Overseers and Managers.
4. Dennis and Carol Troesh – $100 Million
Loma Linda University Health in California has received a pledge of $100 million from Dennis and Carol Troesh for its capital campaign to build a new adult medical center, a tower for its children’s hospital, and an interdisciplinary research hub. Dennis Troesh is founder of Robertson’s Ready Mix.
3. Ernest Rady – $120 Million
Ernest Rady, founder and chairman of American Assets, pledged $120 million to Rady Children’s Hospital Foundation in San Diego. The donation will establish the Rady Pediatric Genomics and Systems Medicine Institute. In 2006, Ernest Rady donated $60 million to the hospital.
2. T. Denny Sanford – $125 Million
Sanford Health in Sioux Falls, South Dakota, received a pledge of $125 million from T. Denny Sanford that will enable primary care doctors to use genetic testing and counseling to treat patients. To date, T. Denny Sanford has donated over $735 million to Sanford Health. He is chairman of United National Corporation.
1. Stanley Family Foundation – $650 Million
Founder of the Stanley Family Foundation, Theodore Stanley pledged $650 million to the Broad Institute in Cambridge, Massachusetts, for research into psychiatric disorders and bringing new treatments based on molecular understanding to hundreds of millions of people around the world.
Stanley’s commitment to support the work of the Broad Institute will consist of annual gifts during his lifetime followed by a bequest. Taking prior gifts into account, Stanley’s philanthropy is support of the Broad Institute totals more than $825 million.
Since 2004, Ted Stanley and his late wife, Vada Stanley, have been instrumental to the progress made thus far in identifying the genetic risk factors for schizophrenia and bipolar disorder and the initiation of therapeutic efforts based on those discoveries. Their gifts made possible the establishment of the Stanley Center at the Broad Institute in 2007 and helped support an international collaboration that today involves scientists in 25 countries. Stanley’s new commitment is the culmination of a 25-year personal mission to discover the biology of psychiatric disorders and lay the groundwork for effective therapies.
Top 10 healthcare innovations for 2019
We take a look at some of the top 10 healthcare innovations which are transforming the sector
The telehealth market is booming. Consumers are leading increasingly busy lifestyles, with up to 60% favouring digitally-led services. Providing clinical care at a distance, increasing accessibility and eradicating potential delays has given patients greater control, boosting patient satisfaction and overall engagement. Such is its exponential growth, The Centers for Medicare and Medicaid Services in the US has recently released its proposed Physician Fee Schedule and Qualified Payment Programme updates for 2019, where telehealth services has been heavily featured, in order to deliver ‘different access points’ for patients.
9. Mobile technology
Consumers have become accustomed to accessing their data through the use of various digital tools, where the use of mobile and tablet health apps has tripled from 13% in 2014 to 48% today. Catering to this growing market, British based start-up Babylon Health is making waves on a global scale. Partnering with the National Health Service (NHS) and private health provider, Bupa, it has also cemented its presence across the flourishing Chinese market, with a membership base exceeding 1.4mn citizens across Europe, Asia and Africa. By partnering with global juggernaut Tencent, Babylon’s artificial intelligence system has enabled both parties to interact directly with users, identify specific illnesses, deliver health status assessments, and triage necessary actions. The mobile app is available to over a billion users and linked to more than 38,000 medical facilities in China alone.
8. Artificial intelligence
Artificial intelligence (AI) applications, such as predictive analytics for patient monitoring has provided significant financial savings. Applications that target hospitals and medical institutions include patient monitoring and transcribing notes for electronic health records (EHRs). The European Union is set to invest $24bn into artificial intelligence (AI) by 2020 in a bid to catch up with Asia and the US, who have invested heavily in AI and cloud services. This year, Google revealed its plans to harness AI and machine learning across a multitude of consumer technologies, particularly in healthcare. “If AI can shape healthcare, it has to work through the regulations of healthcare. In fact, I see that as one of the biggest areas where the benefits will play out for the next 10-20 years,” Google CEO Sundar Pichai has previously stated.
Blockchain is estimated to reach over $5.61bn by the end of 2025, even though it remains dependent on the ability to record and store information conveniently, economically and securely amongst different applications and systems. Providing transparency and eliminating third-party intermediaries, processes are streamlined, reducing healthcare costs exponentially. Unlocking the ability for providers to deliver a value-based healthcare system and enhance patient engagement, blockchain could save the industry up to $100-$150bn per year by 2025 in data breach-related costs, IT costs, operations costs, support function costs and personnel costs, according to BIS Research. Partnering with pharmaceutical giant GlaxoSmithKline (GSK), Ethereum blockchain-based supply chain platform, Viant sought to accelerate the pace of blockchain-based supply chain systems. Accenture and supply chain giant DHL have also developed a blockchain-based serialisation prototype which tracks pharmaceuticals from the point of origin to the consumer.
6. Health wearables
With the rise of lifestyle diseases, such as diabetes, more consumers are turning to health wearables that monitor glucose, heart rate, physical activity and sleep to gain a greater understanding of their health conditions. Following on from the release of the first Bluetooth headset back in 2000, the growing interest in wearables has seen monitoring our health and data become standardised. This data can be analysed by sophisticated algorithms to drive long-term diagnosis and support. Partnering with Google, health wearables company Fitbit is exploring the development of consumer and enterprise health solutions. Its acquisition of HIPAA-compliant health platform, Twine Health has seen the business enhance its clinical services by bringing on board a coaching platform, empowering people to seek better health outcomes.
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5. Electronic health records tools
From 2018-2022, the electronic health records (EHR) market is expected to grow at a compound average rate of 6% per year Providers and organisations continue to house fragmented technologies which create barriers towards collaboration and data sharing opportunities. This is further exacerbated if a patient straddles both public and private healthcare. Technology giant Apple has integrated patients’ medical records into its Health App as part of its iOS 11.3 beta. The data is encrypted and protected with the user’s iPhone passcode. Partnering with hospital providers and clinics, patients are now able to view their medical records from multiple providers within one platform. Johns Hopkins Medicine, Cedars-Sinai, Penn Medicine, UC San Diego Health and even the Cleveland Clinic have implemented this technology.
4. Healthcare transportation
Non-emergency health transportation remains a key issue worldwide, preventing patients from getting to or from a doctor’s appointment. 25% of lower-income patients have missed or rescheduled appointments due to lack of transportation, costing US health systems up to $150bn each year. Transportation companies such as Lyft and Uber have therefore entered the market by partnering with state governments to reduce these costs and deliver personalised patient care.
3. 3D Printing
Healthcare providers are set to represent the second largest industry sector in 3D manufacturing. The Food & Drug Administration’s decision to release its first comprehensive framework advising manufacturers of 3D medical products highlights its growing impact where more than 100,000 knee replacement surgeries are completed each year using 3D-printed, patient-matched surgical guides, for example. Through this process, surfaces and structures can be optimised for strength, weight and material use. Consultation between surgeons and patients has also been bolstered, where patients can better understand the complexity of his or her specific needs.
As consumers get more involved in the management of their health, consumer genetics and research companies have grown in popularity and scale. People want to further understand their genetic makeup, leading personal genomics and biotech company 23andMe to become one of the largest consumer-based organisations worldwide. Interestingly, this year, the company has entered a four-year collaboration with GSK to develop new treatments, but using human genetics as the basis for discovery.
Not only looking to develop treatments by analysing human genetics, pharmaceutical companies are looking to even remove hereditary genes which pass diseases down generations. In 2017, human embryos were successfully ‘edited’ through gene editing tool, CRISPR (Clustered, Regularly Interspaced, Short Palindromic Repeats), eradicating hypertrophic cardiomyopathy within 42 embryos.
1. Vertical integrations
As healthcare providers aim to provide greater transparency, promote collaboration and lower escalating patient costs, 2018 has been the year for a significant number of vertical integrations. CVS Health’s $68mn takeover of health insurer Aetna is a case in point. By influencing more of the supply chain, it will gain significant negotiating power to reduce costs for payers and patients, develop personalised solutions and improve overall outcomes. It will also promote the eradication of delays in process by removing any third parties within traditional business models. Other notable integrations are Optum’s acquisition of the DaVita Medical Group, Humana and Kindred Healthcare and Cigna and Express Scripts.
Reports have indicated that not only has the number of healthcare deals more than doubled in the last five years, the size of deals has also grown as a result of repeat investor interest, highlighting that this trend is here to stay.