Novel bioabsorbable and/or biocompatible polyurethanes, polyureas, polyamideurethanes and polyureaurethanes with tunable physical, mechanical properties and hydrolytic degradation profiles are provided for use in biomedical applications such as stents, stent coatings, scaffolds, foams, and films. The disclosed polymers may be derived from biocompatible and/or bioabsorbable polyisocyanates. The present invention also relates to new and improved methods for the preparation of the biocompatible and/or bioabsorbable polyisocyanates.