We're One of Fortune Magazine's Most Innovative Companies for the Third Year in a Row

Our organization has earned our third straight "America's Most Innovative Companies" honor from Fortune magazine. 

We’re ranked #183 and again the only Virginia healthcare system on the list—and one of just 36 hospitals and healthcare systems in the country—to receive the honor. Healthcare companies and hospitals earned 63 spots—more than any other sector in the ranking.

Fortune compiled the list of 300 companies through market research that included surveys of employees, management consultants, patent attorneys, recruiters and human resources experts. Surveys looked at how companies encourage innovation through research and development, inventing products, streamlining processes and collaborative and thoughtful leadership.

The most innovative organizations were selected for “transforming industries from the inside out.”

Fortune worked with data company Statista to evaluate companies from mid-September through late October 2024. Their ranking is based on a methodology resulting in scores in three categories: 

• Product innovation evaluates a company’s products and services, covering attractiveness, design, usability and uniqueness. This score is derived from analyzing a company’s intellectual property (IP) portfolio and the opinion of experts and (potential) customers.
• Process innovation analyzes all company processes, from sourcing and production to marketing, sales and support. This score is based on internal and external views, factoring in employee, expert, and (potential) customer opinions.
• Innovation culture measures how a company internally fosters an entrepreneurial spirit and creativity and allows ideas to be implemented. Employee opinions are central to this score, but external experts such as recruiters and HR experts were also included. Our Carilion Clinic Innovation team is one of the ways we support our employees who have created medical devices or developed processes and concepts they believe can improve how we care for our patients.

You can learn about the methodology on Fortune's website, which contains the complete “America's Most Innovative Companies” list (subscription required).