Not long ago, the Centers of Medicare and Medicaid projected an increase of spending on health care by 5.5 percent annually from 2017 to 2026. This rise will comprise nearly 20 percent of the economy of the United States in 2026, a growth of almost 18 percent from 2016. Health spending in 2026 is projected to rise to $5.7 trillion. Despite these growth figures, because health care is so heavily regulated and deeply-rooted in politics and is, therefore, not a free market, it has been a neglected investment class.
Fortunately, Aneesh Chopra, who was appointed as the first Chief Technology Officer of the United States, has made some improvements. For instance, he was instrumental in launching initiatives that encouraged innovation in health care. Some of these are Argonaut Project, Startup America, Open Innovator’s Toolkit, and Healthdata.gov. As chief executive of NavHealth, now known as Carejourney, Chopra launched initiatives that invited innovation and a future in which health data can be unlocked from electronic health record companies and match care models with the right patients across the country.
One company that offers consulting services that lead this new health industry is Evergreen Healthcare Partners, a company begun in 2017 by Managing Partners Rebecca Bottorff, Aaron Friedman, Jeff Leach and Drew Madden. These partners, who perceived the inefficiency of the $3.35 trillion market of health care and the need for innovation, have used technology to improve the business of health care.
As a health care IT entrepreneur, Drew Madden, who holds a B.S.E in Industrial Engineering with a focus in Medical Systems, is enthusiastic about building trusted client partnerships and high caliber teams. In 2010 Madden joined Nordic Consulting Partners, renowned for its consulting excellence. In 2014 Madden declared, “I’m passionate about Electronic Medical Records and have spent over a decade collaborating with the best and brightest in the industry to implement, optimize, troubleshoot, and take on the complex challenges that accompany an EMR project.” Madden’s belief in trusted partnerships with clients has led him to great success in matching patients with the most appropriate care and services. During his tenure at Nordic, the company grew from ten employees and only three client partners to 150 client partners and 725 employees. Annual revenue increased from $1,000,000 to $130,000,000.