This document summarizes new concepts in hemostasis, which is the process of blood clotting and wound healing. It discusses three phases of coagulation - initiation, amplification, and propagation. The initiation phase begins when tissue factor is exposed by damaged blood vessels, forming a complex with factor VIIa that activates small amounts of factors IX and X. This generates low levels of thrombin, starting the amplification phase where feedback loops dramatically increase coagulation factor activity through activation of factors V and VIII. High levels of thrombin then propagate fibrin clot formation. The document also reviews platelet activation and interactions with endothelial cells that regulate thrombus formation and coagulation.