New venture targets cost-cutting health IT

Former national HIT coordinator Dr. David Brailer has launched a new venture investment fund targeting health IT firms whose technology stands to cut healthcare costs substantially. The venture fund has only one investor, but it's a giant. Brailer's Health Evolution Partners will start with $700 million from CALPERS, the California Public Employees Retirement System, which has assets of $240 billion. CALPERS, which funds care for 1.5 million workers, retirees and their family members, hopes to reduce its own costs as well as generating profits. Health Evolution is looking closely at HIT firms focused on hot areas like remote monitoring of patients, chronic disease management, telemedicine and predictive genomics. Brailer says he's not looking at EMR developers, however, as he feels the market is "saturated."

To find out more about the venture:
- read this article from The New York Times