A dynamic relationship involving pathogen, host immune response, and microbiome characterizes the biological framework of many infectious and inflammatory diseases. Combined host/microbe metagenomics (mNGS) enables simultaneous assessment of all three features, enabling the study and diagnosis of diverse infectious and inflammatory processes ranging from pneumonia to sepsis to inflammatory diseases such as rheumatoid arthritis. Host/microbe mNGS holds promise for new mechanistic insights, diagnostic approaches, and precision medicine interventions.