I have always thought one of the best parts of my job is the privilege of attending portfolio company board meetings. It is invigorating to be in a room of really smart, talented, and committed entrepreneurs and executives who, especially in healthcare, are trying to change the world for the better. I almost always learn something (or several things) new at board meetings and generally come away energized by the great things happening at our companies.
Chief Medical Officer, Tyler Jung, put together a great presentation describing how Health Essentials is working to achieve the “Triple Aim” in the care of medically complex, chronically ill patients. The “Triple Aim” is a framework developed by the highly regarded Institute for Healthcare Improvement (www.ihi.org) that describes an approach to optimizing healthcare performance by simultaneously pursuing the following three objectives:
- Better Health for the Population – Health Essentials is focused on improving the quality outcomes for medically complex, chronically ill patients. Our integrated care delivery system is designed specifically to address the needs of this population. We work with health plans and risk-bearing provider groups to manage this group of patients in a more clinically effective way through care coordination.
- Better care for individuals – Everything starts with the individual patient and their family at Health Essentials. Our goal is to provide our patients with a more customer friendly, better coordinated, more tightly integrated care experience. Our team is comprised not just of clinical staff but of social workers and case managers and spiritual leaders as well – the full suite of services that a patient who is at or near the end of their life may need.
- Lower cost through improvement – Through better care coordination, we reduce cost by eliminating waste, unnecessary care, and even medical errors. It’s just that simple.
Like winning the Triple Crown in horse racing or in baseball, achieving the Triple Aim in healthcare is a difficult yet extremely noteworthy accomplishment. Like Affirmed did among thoroughbreds and Miguel Cabrera did among baseball players, Health Essentials is looking to make its name among a rarefied group of healthcare companies.
As I was flying home from the board meeting in Los Angeles last week, I reflected on how proud I am to be part of the HealthEssentials team. I also got to thinking how I want to find more investments like this one. I have written in the past about how we analyze opportunities and what types of investments we are looking for. But, my board meeting at HealthEssentials made me more committed than ever to find companies trying to hit the trifecta in healthcare – better quality, lower cost, and better patient care.
And if you are a company in the healthcare space that also seeks to deliver against these three admirable goals, I’d love to hear more about what you are working on . . .