2010/11 Baycrest and Baycrest Foundation Annual Report


Imagine
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2010/11 ANNUAL REPORT NOW IS THE TIME TO TRANSFORM THE FUTURE BUILDING THE FUTURE OF AGING INTRODUCING BAYCREST HEALTH SCIENCES TEACHING AND LEARNING IN THE NEXT GENERATION INNOVATION ENGINE BRINGING GREAT IDEAS TO LIFE BAYCREST BOARD OF DIRECTORS, BOARD OF GOVERNORS, EXECUTIVE TEAM AND MEDICAL STAFF BAYCREST FINANCIAL SUMMARY NOW IS THE TIME TO SUPPORT THE FUTURE

NOW IS THE TIME TO TRANSFORM THE FUTURE

Message from the Chair of the Baycrest Board of Directors and the President and Chief Executive Officer of Baycrest

Every great achievement starts in the imagination. This past year, the best minds at Baycrest have been imagining nothing short of a transformation in the experience of aging for millions worldwide. How would that be achieved? In leading this transformation, what does Baycrest have to offer that no other organization in our field can match?

Our examination of these critical questions, which involved measuring our strengths and identifying areas for improvement, has resulted in a bold new organizational structure we are calling the "Next Generation of Baycrest". Outlined in this report, this new approach will enhance the integration of care, research and education at Baycrest and create new sources of revenue by commercializing our science and care innovations through business partnerships.

Dr. William Reichman - President and Chief Executive Officer, Baycrest and Dr. Anthony Melman - Chair, Baycrest Board of Directors

Dr. Anthony Melman
Chair, Baycrest Board of Directors


Dr. William Reichman
President and Chief Executive Officer, Baycrest

Imagine with us.
Watch our video.

Why Next Generation? Because whenever the time was right over the course of our almost 100-year history, we adapted to changing needs to remain at the forefront of seniors' care, research and education.

Today is such a time.

The world is bracing for an unprecedented demographic shift that will see the number of persons over age 60 grow by 1.2 billion in the next 40 years, with those aged 80 and up growing at the fastest rate.

A declining birth rate and rising life expectancy have combined to create this trend. While many seniors will remain healthy enough to enjoy greater longevity, there are serious challenges inherent in this shift, one of the most notable being a sharp increase in the rate of dementia. The social and economic demands of Alzheimer's disease, stroke and other brain disorders will put an enormous strain on individuals, families and health-care systems everywhere.

We currently provide a comprehensive suite of evidence-based services to 2500 seniors a day. We believe we are uniquely positioned to expand those services on a national and international scale not just to share our excellence in aging care but to create new sources of revenue for the development of Baycrest. An independent benchmarking study has validated our readiness for this role. The study found that while global peers that focus on aging and cognition demonstrate excellence in research and clinical care, few match the breadth and uniqueness of the integrated models of service delivery and the calibre of translational research at Baycrest.

Our new Next Generation organizational structure will advance our vision of being the global leader in aging and brain health by:

Our goal is to take promising ideas that emerge from our day-to-day work, and that of our partners and collaborators, and refine them into the scientifically-validated products, goods and services the market is seeking. The revenue from our commercial enterprise will be used to support our present activities and grow our capacity to influence the best possible care of seniors, first and foremost in our local community, but also across Canada and around the globe.

We will build on our considerable strengths to develop innovations and "next" practices that will consolidate our international reputation and attract to our doorstep more of the world's top neuroscientists, geriatric medicine specialists, educators, and global partners.

This past year, we have been working with the Ontario government on a number of senior care initiatives. We are partnering, for example, with the Ministry of Health and Long-Term Care and the Institute for Clinical Evaluative Sciences to develop a provincial framework for the evaluation of health innovations.

Baycrest, along with IBM and the Public Policy Forum, was also invited by the Ministry of Research and Innovation (MRI) to develop an international symposium on brain health innovations.

Baycrest was also invited by the Ministry of Research and Innovation (MRI) to develop an international symposium on brain health innovations.

Dr. Paul Katz, chief of staff and vice-president of Medical Services at Baycrest, has been invited by the Alzheimer Society of Canada to co-lead an initiative to develop best practices in client-centred care for nursing homes.

Baycrest has also been invited by the Community for Excellence in Health Governance to lead a national seniors collaborative initiative that will result in a consortium of up to 12 North American senior care organizations coming together to achieve higher performance in quality and safety. In March, the Neurological Health Charities of Canada honoured Baycrest with a national award for innovation and leadership in aging and brain health.

Baycrest is also making its mark internationally. An Ontario government trade mission to Asia, led by the MRI, has pave the way for Baycrest-Beijing discussions about opportunities to develop a seniors' hospital in China.

In the end, the successes outlined in this report add up to better care for the aging population, including our own community. At Baycrest, we are not just imagining a better experience of aging; we are promising one.

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