Becker’s Healthcare Podcast How to Ensure Innovation Efforts Deliver True Value
Feb 24, 2026
William Morice II, M.D., Ph.D., President and CEO of Mayo Clinic Laboratories and leader in laboratory medicine and pathology. He talks about defining the specific value innovation should deliver. He covers dedicating resources and centralized oversight while keeping autonomy. He explores balancing structure with creativity and engaging stakeholders for lasting change.
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Start Innovation With A Clear Value Target
- Define the specific value innovation must create before pursuing it.
- William Morice II, M.D. advises tying innovation to a clear problem or strategy so efforts aren't 'innovation for innovation's sake.'
Ringfence Resources For Innovation
- Dedicate separate resources to innovation rather than draining production budgets.
- Morice explains mixing production and innovation pools starves long-term projects in favor of urgent operational needs.
Balance Central Oversight With Autonomy
- Create centralized oversight with transparent utilization while preserving autonomy for innovators.
- Morice recommends common expectations and crisp decision points to stop sunk-cost escalation when efforts fail.