INNOVATION IS FUTURE OF HEALTH CARE IN U.S.

Whenever I think of innovation, I think of lessons learned from Steve Jobs, whose curiosity and desire for new technologies to enhance our lives is unrivaled in modern times. His approach was a combination of daring optimism, true audacity and the brilliance to know when it's time to take another path. As Jobs said: "Innovation distinguishes between a leader and a follower."

Our health care industry is facing daunting challenges and the time for innovation couldn't be greater: 76 million baby boomers are heading into middle age and the golden years. And while this transformative generation may think 60 is the new 40 - I'm a card-carrying member and admit to feeling younger than I actually am - certain facts are irrefutable.

By 2030, 20 percent of Americans will be 65 and older, compared to 13 percent now. Diseases such as Alzheimer's and other forms of dementia are costing the nation $259 billion this year. By 2050, the costs could exceed $1 trillion.

National health expenditures reached $3.2 trillion in 2015, according to the federal Centers for Disease Control and Prevention - that's $9,900 per capita. We have watched these costs climb from 5 percent of the nation's GDP in 1960 to 17.8 percent in 2015. Treatment in hospitals consumes about one-third of these expenditures. That's why care is migrating away from hospitals and into communities in the form of urgent care centers and other convenient and affordable services.

To be sure, this investment has granted us true miracles: surgeons can control a robot to make tiny incisions so there's less pain and faster healing for patients; oncologists use targeted therapies to better attack tumors; engineers have designed advanced prosthetics that allow amputees to run.

But the cost of care has spun out of control, some of our processes are too bureaucratic and complex for consumers, and sadly, quality is not always consistent. Health care leaders must respond today with a fierce sense of urgency to redesign the way care is delivered. We must align our goals of providing high-quality care and enhanced patient experience with a sharp eye on lowering costs. It's really the Holy Grail of medicine and why I am so passionate about innovation.

Let me provide a few examples. This week, Hackensack Meridian Health, in partnership with the New Jersey Institute of Technology and its affiliate, the New Jersey Innovation Institute, launched the state's first incubator for novel approaches to improving health care.

The new facility - Agile Strategies Lab at the NJIT campus in Newark - brings together the greatest minds in health care, engineering and technology to create new products and better systems and efficiencies. Think Shark Tank for health care.

We must align our goals of providing high-quality care and enhanced patient experience with a sharp eye on lowering costs.

Hackensack Meridian Health is contributing a $25 million capital fund, a new revenue stream to help companies develop trailblazing products and services. Ten companies have already pitched ideas - including a new device to lower surgical risk and a wearable, comfortable monitor to better track a patient's vitals. Four will reach the finals where we begin the concept of commercializing the idea. This type of incubator is typically only found in the nation's leading academic medical centers.

Other recent innovations have not only improved patient care, but reduced costs as well. A pilot program sponsored by the federal government involved 100 Hackensack Meridian Health oncologists practicing in New Jersey. The challenge was clear - develop more coordinated care with enhanced technology to better track outcomes, patient satisfaction and costs. The result? A savings of $1 million in one year alone, just by reducing the number of repeat scans, which also benefits patients.

Additionally, we are national leaders in revolutionizing joint replacement - a common surgery the government spent more than $7 billion on in 2014 - and that only covered hospitalization. The pilot program at Hackensack University Medical Center is in full practice and providing impressive results for all: patients report greater satisfaction, there are fewer falls, shorter stays and seniors don't languish in post-operative care like they had previously. And providers share in the savings in reducing overall costs.

Imagine if these practices were replicated at every medical center in the country, for every patient and procedure. This is why I am calling on all health care leaders to support innovation

Our industry must shed traditional thinking and embrace this next wave of discovery to ensure we continue to deliver health care technology, products and services that not only meet, but exceed our patients' needs. Together, we can truly revolutionize the future and push the boundaries of medicine forward to create real change in people's lives - and ensure the sustainability of our system.

Robert C. Garrett is the co-chief executive officer of the Hackensack Meridian Health.