Giving Compass' Take:

• HealthLeaders Media talks about the formation of Healthcare Innovators Professional Society (HIPS), an exclusive, invite-only organization providing a supportive community for leaders in the sector.

• Could an organization such as this become a think tank? How might this encourage more collaboration and partnerships among healthcare providers and entrepreneurs?

• Read more about how ventures are becoming a growing trend in health system innovation.

As innovation becomes an increasingly important function at many health systems, an exclusive professional organization has formed to provide a supportive community for the chief innovation officers who lead the charge of innovation at not-for-profit organizations.

Healthcare Innovators Professional Society (HIPS), composed of innovation leaders from 36 of the nation's most prominent health systems, including UPMC, Cleveland Clinic, Mayo Clinic, Intermountain Healthcare, and other high-profile systems, recently convened for the first time in Houston.

With members representing one of every five U.S. hospitals, HIPS is a powerhouse that has the potential to become a collective force in the industry—a forum where ideas will be shared and collaborative deals will begin—a nexus that could accelerate the process of innovation throughout the healthcare system.

Membership is by invitation only and the group may only add another five members in the coming year, according to founder Toby Hamilton, MD. As an innovator himself, Hamilton saw a void in the professional landscape for a group that addresses the needs of chief innovation and transformation officers. HIPS, he says, is the first and only professional, nonpartisan, non-profit community for innovation leaders, offering advocacy, recognition, and a supportive community.

Read the full article about this professional group of health system innovators by Mandy Roth at HealthLeaders Media.