Abstract The evolving field of Precision Medicine is revolutionizing drug discovery and healthcare delivery. In this article, we take a look at how this nascent field has already impacted drug development for targeted therapy and the widespread use of genetic testing to assist clinical decision making at point-of-care. We also examine how the interaction of people and technology plays a critical role in Precision Medicine delivery. Finally, we conclude with how Precision Medicine can bring healthcare's spiralling costs down, while improving patient outcomes.