Candescent Health, a Boston-based radiology management startup, has formed a partnership with the Cleveland Clinic. This marks the first significant collaboration for Candescent Health since launching earlier this month.
The company will work with the hospital on the development of new products to “improve the productivity, efficiency and diagnostic performance of radiology practices nationwide,” according to the announcement. As a part of the agreement, Cleveland Clinic will be given the opportunity to make an equity investment in Candescent Health.
“We are thrilled to be working with a healthcare innovator and leader like Cleveland Clinic to accelerate what we believe is an essential shift in the radiology care model that drives greater healthcare value on a nationwide basis,” Scott P. Seidelmann, Candescent Health founder and CEO, said in a statement. “Cleveland Clinic not only has the foresight to understand that radiology is undergoing significant change, but is willing to lead radiology through that crucial transformation. This fundamental reengineering of the radiology care model will have an enormous positive impact on patients, referring providers and healthcare systems overall.”
“The healthcare model of the future requires that we find better, more efficient ways to provide services,” Toby Cosgrove, MD, Cleveland Clinic president and CEO, said in the same statement. “That will only happen through technological advances that lower costs, drive efficiencies and allow doctors to put patients first. This partnership will help the radiology community improve quality and productivity by expanding technology and clinical expertise to health systems throughout the country.”
Cleveland Clinic is a nonprofit academic medical center founded in 1921. More than 177 radiologists conduct approximately 2.3 million studies for the Cleveland Clinic each year.