Innovation in Healthcare: A Fireside Chat on AI, Profitability, and the Future of Care
The healthcare industry is evolving faster than ever, and innovation has become its driving force. In a recent fireside chat, Josh Coleman, Managing Partner at Tracing Company by Cherry Bekaert, and Bree Riley, Director of Innovation at Henry Ford Health Systems, shared their insights on the rise of AI, the journey toward profitability post-pandemic, and the expanding role of partnerships and technology in shaping the future of patient care.
AI in Healthcare: Promise and Pressure
Artificial Intelligence has become an unavoidable presence in modern healthcare. As Josh Coleman noted, “I can’t swing a cat without bumping into AI these days.” AI now touches everything—from medical imaging and diagnostic tools to workflow optimisation.
Coleman explained that while traditional hardware improvements in imaging equipment once drove progress, AI now offers a higher return on investment. It can improve image quality, reduce operational costs, and enhance diagnostic accuracy. However, he warned that innovation must focus on improving care quality rather than merely cutting costs or replacing humans. The goal, he said, should be “better outcomes, not just cheaper systems.”
At Henry Ford Health, Bree Riley echoed this sentiment. Every startup her team encounters has an AI component—sometimes even where it seems unnecessary. She shared an example of a wearable patch developed through a partnership with Israeli innovators. This patch not only monitors patient vitals throughout surgery but also predicts potential health events post-surgery. What began as a solution to reduce clutter in the operating room—known as “spaghetti syndrome”—has now evolved into a full-scale predictive health technology, capable of supporting patients throughout their recovery journey.
The wearable’s AI-driven predictive capabilities, Riley explained, represent the kind of holistic innovation that hospitals need—tools that integrate into every stage of the patient care experience.
Returning to Profitability Post-Pandemic
The COVID-19 pandemic left many hospitals struggling to balance care delivery with financial sustainability. At Henry Ford Health, Riley shared that profitability returned through focus and adaptation.
Two strategies proved essential:
- Focusing on Core Strengths – The hospital shifted personnel and resources toward high-performing areas like surgical and procedural units, aligning services with the most significant reimbursement opportunities.
- Addressing Workforce Challenges – The rising cost of travel nurses and staff shortages forced hospitals to rethink retention. Riley described new approaches to supporting nurses emotionally and physically, from predictive tools that improve safety to robotics that reduce manual tasks like delivering supplies.
The development of a new hospital campus in Detroit—engineered to accommodate advanced automation—represents a forward-looking investment in both technology and workforce wellbeing. “Our goal,” she said, “is to make our nurses feel valued, safe, and supported while improving patient outcomes.”
Beyond Technology: Innovation as a Systemic Tool
Coleman urged the audience to view innovation as more than new gadgets or devices. True innovation, he said, must apply to every organisational goal, from revenue cycle management to physician wellbeing.
He challenged the industry to direct the same creative energy invested in AI and robotics toward issues like burnout, population health, and care equity. Riley agreed, highlighting how Henry Ford’s innovation team works directly in the community—partnering with local churches and mobile health units to bring care to underserved neighbourhoods.
Through these outreach programmes, Henry Ford focuses not on profits but on prevention and public education—offering check-ups, explaining insurance coverage, and promoting awareness. “Innovation,” Riley explained, “isn’t just about technology—it’s about accessibility.”
Partnerships: The Future of Healthcare Innovation
Partnerships are the backbone of Henry Ford’s innovation ecosystem. Riley described how the organisation collaborates with startups, universities, and major corporations to co-develop solutions. Their recent collaboration with Premier Applied Sciences exemplifies this approach.
Through Premier, Henry Ford can connect clinicians, IT experts, and researchers directly with corporate partners seeking to test new ideas or pilot emerging technologies. This “front door to innovation” simplifies collaboration, ensuring that promising ideas reach patients faster and more safely.
Riley’s team evaluates every startup—no matter how small—through an online vetting system. They focus on problem clarity, solution definition, and technological viability. “Even if a company only has an idea sketched on a napkin,” she said, “we look at it. We don’t want to miss the next breakthrough.”
3D Printing: From Concept to Clinical Impact
Both speakers highlighted 3D printing as a transformative force in healthcare. Coleman noted its potential to produce customised implants and medical devices at lower costs. Imagine a hip implant tailored precisely to a patient’s anatomy—“that’s where the field is heading,” he said.
Riley offered a real-world example from Henry Ford’s pioneering 3D printing programme, which began nearly a decade ago. Starting with structural heart cases, the team began printing life-size replicas of patients’ hearts using MRI and CT data. This allowed surgeons to select the right valve size before surgery, reducing procedure time and improving outcomes.
The results were remarkable:
- 30 minutes less time per operation, saving anaesthetic and facility costs.
- Improved accuracy and recovery rates, thanks to better pre-surgical planning.
The process has since expanded to oncology and orthopaedics, demonstrating how physical modelling can enhance precision, reduce risk, and increase efficiency.
Macro Trends in Healthcare Innovation
Riley concluded with two major trends shaping healthcare’s future:
- Workforce Transformation – With one-third of nurses considering leaving the industry (according to 2022 data) and an ageing population increasing demand for care, the healthcare workforce faces a defining challenge. Innovation must focus on retention, support, and smarter workflows to prevent burnout.
- Operational Digitalisation – Healthcare lags five to ten years behind other sectors in adopting technologies for logistics, supply chain, and customer experience. Expect hospitals to integrate lean management, predictive analytics, and automation—borrowed from industries like hospitality and automotive—to streamline operations.
Coleman added that while technologies like AI, robotics, and bioprinting promise transformation, the timeline remains uncertain. The challenge for innovators, he said, is balancing risk and relevance—staying engaged in the conversation without overcommitting resources before markets mature.
Final Thoughts: Collaboration as the Catalyst
Both experts agreed that innovation in healthcare thrives on collaboration, curiosity, and courage. Riley summed it up best:
“If you don’t ask, the answer’s no. The startups that succeed are the ones willing to reach out and start a conversation.”
Healthcare’s next breakthroughs won’t come from technology alone—they’ll come from people and organisations willing to work together, experiment early, and design solutions alongside clinicians and patients.
From AI-driven wearables to 3D-printed hearts and robot-assisted care, the message is clear: the future of healthcare belongs to those who innovate with purpose, empathy, and partnership.
