The role of new technology in healthcare continues to expand from both the clinical and financial perspectives. Despite the importance of innovation, most academic medical centers do not have a clearly defined process for technology assessment. Recognizing the importance of new drugs, diagnostics and procedures in the care of patients and in the financial well being of the institution, the Massachusetts General Hospital established the Innovative Diagnostics and Therapeutics Committee to provide consultation to senior leadership. The Committee is composed of senior management, along with selected members of the medical staff and others, and provides consultation on the appropriateness of new technology adoption. A case is presented that highlights the issues related to asymmetry of information and the Committee's role in placing an institutional perspective on adoption. Committee methodology is briefly described along with important lessons learned. (Contains 1 table.)