The American Medical Association has set aside $15 million to start a new for-profit company that will design tech products aimed at improving health care.

Health2047 is a San Francisco-based company that "will conduct rapid exploration of transformational solutions to some of the biggest challenges facing the nation's physicians and the patients they care for," AMA CEO James Madara said in statement Monday.

The new company has 15 employees who share a 4,500-square-foot rapid prototype design studio, according to Crain's Chicago Business. The Chicago-based AMA has invested $15 million in the startup and is searching for other investors.

Health2047 "will ensure that the physician perspective is represented in all major innovation cycles as it develops new products, tools and resources that improve the practice of medicine and the delivery of care," Madara said. "That means that Health2047 will gather physician input at the outset of projects, incorporate physician testing and feedback during prototype development, and leverage physician channels to accelerate market adoption of transformative health care solutions."

Madara acknowledged that "this all may seem very conceptual right now," but said AMA's goal was to achieve real solutions in the future.

"And we intend that these solutions will be ones that make concrete improvements for physicians' practices, their profession and their patients," he said.

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