Economic Impact of Healthcare in DFW

We all interact with the healthcare system. Individuals stop in at their doctor’s office for an annual physical or visit the pharmacy for a prescription refill. Business executives calculate and deduct the cost of care for employees from their budgets. And for more than 600,000 people in the North Texas region, interacting with the healthcare system means going to work each day to provide care and products for the region’s 6.5 million residents. Healthcare is a big business in North Texas. The industry makes up about 15 percent of the local economy—some $52 billion in gross metro product is created… Full Story

When Collaboration and Innovation Collide

Innovation is one of the biggest buzzwords in healthcare for 2012. Innovation differs from both invention and improvement in a fundamental way. Invention is original creation of an idea, process, product, technology, etc. Improvement is doing this same thing better. Innovation refers to the notion of doing this existing thing not only better, but differently. In fact, the Latin word innovare means “to change.” Collaboration is yet another hot topic and can be used when discussing anything from bundled payments to patient-centered medical homes. Collaboration is not just working together, but it is a process where two or more organizations… Full Story

BioDFW Merged Into Health Industry Council

The Irving-based Health Industry Council (HIC) of North Texas has absorbed BioDFW. The integration of the two nonprofit organizations, which was effective June 1, included a transfer of assets from BioDFW to HIC’s foundation. Formed in 2003 to promote life science locally, BioDFW was an alliance of leaders in industry, education, government and nonprofit organizations that represented several healthcare disciplines, such as research, medical devices, information technology, and finance. BioDFW’s board will serve on the HIC’s healthcare technology taskforce and help produce an annual half-day forum to showcase the life science industry in North Texas. Leslie Casey, HIC vice president… Full Story