UPMC and Health Catalyst created a great business partnership focused on sharing risks and rewards to innovate how activity-based costing (ABC) is done in healthcare. The partners relied on complementary intellectual property, complementary talent, and complementary risks and rewards to drive benefits that extend beyond either organization’s borders. Health Catalyst licensed UPMC’s activity-based costing software, which served as the foundation for the Health Catalyst CORUS suite. Together, the partners will continue to work for innovations in ABC to drive outcomes improvements in healthcare.
Learn more about Kyle Salyers
Kyle Salyers joined Health Catalyst in August, 2014 as a Senior Vice President. Prior to joining Health Catalyst, he was a Co-Founder and the Managing Director of CHV Capital, a venture capital affiliate of Indiana University Health. In addition to Health Catalyst, Kyle led CHV/ Indiana University Health’s investments in a range of healthcare IT and medical device companies, including MedVentive (acquired by McKesson), MindFrame (acquired by Covidien), Perfect Serve, NICO, NeoChord, Par8o, and Celleration. Prior to CHV Capital, he served in a number of leadership positions across government, academia, and in entrepreneurial companies, including as a Special Advisor to the President of Indiana University & Executive Director for Advancing Indiana, Investment Director & Innovation Fellow at Rose-Hulman Ventures and the Rose-Hulman Institute of Technology, Senior Vice President of Thomas P. Miller and Associates, Vice President of the Indiana Technology Partnership, and Economic Development Manager for the City of Indianapolis, Mayor Stephen Goldsmith.
Read articles by Kyle Salyers
Many healthcare organizations invest for financial, strategic, and operational reasons. These investments cover a broad spectrum of opportunities, from medical technology, to delivery models, to promising new research. Health Catalyst follows these investment avenues, building long-term relationships, and connecting with its partners in three ways:
The sole focus of these investments and partnerships is outcomes improvement—a unique approach in healthcare—supported by the operating principles of ownership, pragmatic innovation, and transparency.
In this first article of a series, Kyle Salyers, Health Catalyst Senior Vice President of Business Development, explores the partnership “flywheel” and the collaborative nature that underscores a successful healthcare investment platform.
Investment and innovation in healthcare is driven by health system providers partnering with entrepreneurs. During my time at venture capital companies, I saw how sharing risk could marry the concept of innovation with pragmatism. Health Catalyst uses Pragmatic Innovation as an operating principle. This is evident on a company-level and in the risks we take with our client-partners, such as Allina Health. Earlier this year, Health Catalyst and Allina Health announced an exciting innovation in healthcare: a true partnership to improve outcomes. Each party took a risk, and each will share in the improvements derived.
Typical venture capital meetings with prospective entrepreneurial businesses usually cover routine information about how the company in question will achieve growth and financial success. But imagine a meeting so exceptionally different from traditional venture capital meetings that one of the original investors feels inspired to join the company as a team member. This is exactly what happened after Kyle Salyers listened to Health Catalyst’s management team explain the company’s goal of creating business value by first focusing on its cultural attributes and operating principles.