Our Healthcare Industry is Sick.
75% of Healthcare
expenditure in the US is due to chronic disease.
1 out of 2 adults
of adults in the US suffer from at least one chronic disease.
Half the US Population
is covered by employer-sponsored health plans
18% of the U.S. GDP
is attributed to healthcare costs. This is equal to federal taxes.
occur in the US each year due to medical error.
The Supreme Court
recently ruled to uphold the Patient Protection and Affordable Care Act.
Innovation is the Cure
Invention creates solutions, but innovation solves problems. We partner with innovative entrepreneurs … entrepreneurs with the audacity to address persistent pain within healthcare by leveraging advances in technology and business models to decrease utilization, increase access, improve quality and reduce the cost of care.
“The US healthcare system is on a dangerous path, with a toxic combination of high costs, uneven quality, frequent errors, and limited access to care … Innovation is the only long-term solution to high-quality, affordable health care.”
– Michael Porter and Elizabeth Teisberg
“Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.”
– Peter Drucker
“The innovation point is the pivotal moment when talented and motivated people seek the opportunity to act on their ideas and dreams.”
– Arthur Porter
Technology Enabled Health Services
We only invest in the “business” of healthcare with a specific focus on innovative companies that operate at the convergence of Health IT and Health Services. These Technology-Enabled Health Services typically implement recurring revenue models, require less capital to commercialize, are more highly scalable and have fewer regulatory hurdles.
Precedent was founded by industry veterans with a passion to help physicians, hospitals and payers provide high quality patient care in a cost-effective manner. The company’s services include the development and management of comprehensive provider networks which will be positioned to succeed under healthcare reform. This includes accountable care organizations, health exchanges and other payment reform arrangements and development of single specialty physician networks.