by David Brancaccio and Ali Oshinskie
— You probably know the Mayo Clinic for its doctors and from a few of the Google searches you've done when your lower back was hurting. But how about the next big thing in medicine, which could be artificial intelligence or a merger with Amazon, JPMorgan Chase and Berkshire Hathaway? Well, no promises yet, but Dr. John Noseworthy, the president and CEO of the Mayo Clinic, has entrepreneurial plans for the hospital that opened in 1889. Noseworthy spoke with us about how the company is investing in startups (contrary to previous plans) and how they hope to better predict complicated diagnoses in patients. Below is an edited transcript of the interview.
Reach: David Branaccio is host of NPR's Marketplace Money Report which is heard on 800 public radio stations across the country and 14.6 million listeners. Its website receives more than 450,000 unique visitors each month.
Advisory Board, Why Mayo CEO John Noseworthy is betting big on startups—and could partner with Amazon-JPMorgan-Berkshire — In an interview with Marketplace's David Brancaccio, Mayo Clinic President and CEO John Noseworthy shared why Mayo has worked with about 80 startups across the last five years, and he dove into the system's efforts to cut down on wasteful spending.
Context: John Noseworthy, M.D. is president and CEO of Mayo Clinic. Dr. Noseworthy plans to retire from Mayo Clinic at the end of 2018. This decision comes after one of Mayo Clinic’s strongest years in terms of quality and safety; advancement in research, education and the clinical practice; and the completion of a $3.76 billion, eight-year philanthropic campaign. “I am honored that the Board of Trustees asked me to serve another year, through the end of 2018,” says Dr. Noseworthy. “2017 was an extraordinary year for Mayo Clinic, and I look forward to working with our leadership team throughout 2018 to continue to strengthen Mayo Clinic and advance our humanitarian mission. I am truly humbled to serve as president and CEO of this amazing and dynamic organization. Every day, I continue to be inspired by the work of Mayo’s staff and how they embody our shared values to care for our patients and advance the field of medicine.” You can read more about this announcement, including an interview with Dr. Noseworthy, on Mayo Clinic News Network.