Key benefits
Health and community benefits
It is estimated that more than 300,000 adult Victorians are living with heart disease. As Australia’s population grows and ages, these rates will increase.
In the Victorian Heart Hospital, Monash Health will provide world-leading clinical cardiovascular care to all Victorians, and put specialised life-saving services within close reach of residents of Melbourne’s south-east.
This project will increase access to life-saving expertise and facilities, provide new opportunities for ground-breaking clinical trials, and vastly improve the treatment experience of patients and their families. Once completed, the hospital will dramatically increase capacity for life-saving cardiac care, providing significant benefits in patient care, including:
Facilities
Patient services
Reduced waiting times
Increased comfort for patients and their families
Training tomorrow’s cardiac care workforce
Economic benefits
The Victorian Heart Hospital will make a major ongoing contribution to the local and Victorian economies.
The Victorian Government is investing in the project, which will bring almost $400 million in revenue annually to the the state's economy, including $110 million in revenue through research and teaching activity directly attributable to the partnership with Monash University and the hospital’s location on Monash’s Clayton campus.
The positive economic impact of Victorian Heart Hospital will include…
Employment
Procurement and ongoing expenditure
Attracting research funding & increasing teaching activity
Driving innovation
Collaboration and colocation are critical to success
Innovation in the health sector improves the quality of life for Victorians, generates new jobs and investment, and creates new industries and export markets.
Australian health manufacturing exports increased by over 80 per cent from 2002 to 2011 creating a green shoot of Victorian manufacturing rivalled only by food. It is a booming market.
To leverage this opportunity in the med-tech sector, it’s crucial we leverage our strengths – such as the existing partnership of Monash Health and Monash University and the manufacturing precinct built around a strong Monash University-CSIRO relationship. Colocation with this precinct provides direct integration with Monash University expertise and research infrastructure, CSIRO and other major players in Victoria’s medical research network.
Additionally, colocation places Victorian Heart Hospital next door to major national research infrastructure, including the Australian Synchrotron, Melbourne Centre for Nanofabrication, and Monash Biomedical Imaging, and places the hospital at the centre of the Clayton cluster - the cluster of innovators located predominantly in and surrounding our Clayton campus.
Placement within this ecosystem will ensure that the medical and economic benefits of Victorian Heart Hospital research are delivered back into the Victorian community as quickly as possible.