Mike Serbinis, CEO of League
JPMorgan was buzzing this 12 months. A part of that’s post-Covid return to convention pleasure. A part of that’s the truth that healthcare has by no means been extra essential. Whereas the economic system was challenged in 2022, buyers are able to do enterprise in healthcare. The stakes are getting larger and the chance in entrance of us is very large.
Pete Anevski, CEO of Progyny
People who find themselves at present scuffling with infertility, and people who want to begin or broaden their households, need to work for employers who perceive that entry to fertility and family-building advantages are a necessity, not only a ‘nice-to-have’.
Fertility and household constructing is a rising want for a lot of and in accordance with the CDC and Household Equality, 1 in 5 girls are impacted by infertility, and 63 p.c of LGBTQ+ people will use assisted reproductive know-how, foster care, or adoption to change into dad and mom. Corporations that want to prioritize DEI objectives and keep aggressive on this tight labor market want to supply fertility and family-building advantages – presently 45 p.c of staff look for an organization that provides them.
Worth-based care is rising in prominence throughout the healthcare business – a development that may proceed in 2023. With projected medical value will increase (at present they’re anticipated to go up greater than 5 p.c for workers, in accordance with a current Mercer survey), people now greater than ever shall be searching for out firms with complete healthcare advantages that cowl each side of their lives, together with their fertility.
John Erwin, CEO of Carenet Well being
Healthcare is at present in a wait-and-see setting as a result of ongoing challenges regarding fallout from the pandemic and actual considerations a couple of recession. There continues to be a significant backlog of deferred procedures, together with excessive burnout for suppliers and medical employees. Major care continues to be seen as an essential engagement and quarterback for the well being techniques, whereas insurance coverage prices are growing at a document tempo.
Mick Mazour, president of Carenet Well being
Outsourcing in healthcare continues to be an space of focus for CFOs, as monetary strains regarding income, value, and labor linger. Corporations positioned squarely within the nucleus of stress factors are resonating out there, and in the case of healthcare, the human contact mixed with digital options are favorable for healthcare payers, suppliers, and companions.
BJ Schaknowski, CEO of symplr
I’ve by no means seen a extra distinguished acknowledgment of the necessity for know-how adoption than I did whereas talking with software program and well being system executives on the JPMorgan Healthcare Convention. There’s an amazing sense that in the event that they do nothing, they could survive the following 12 months, but when they do one thing they may thrive regardless of unstable macroeconomic situations. The foremost hurdle is figuring out what needs to be finished, and we will have a look at what business leaders have already applied to information that imaginative and prescient: leaders are embracing know-how’s potential to automate, standardize, consolidate, and simplify. Well being system decision-makers have acknowledged the legal responsibility and vulnerability disparate techniques throughout their services can pose and are shifting to deliver enterprise-level alignment into actuality, whereas attaining cost-savings and optimum affected person outcomes within the course of.
Tanja Dowe, CEO of the Debiopharm Innovation
With the tough capital markets, a number of methods are utilized to make sure continuity of enterprise. Earlier-stage firms are being bridged by their current buyers to keep away from down rounds. People who raised massive rounds in 2021 and employed a number of individuals to speed up development are slicing massive percentages of their headcount. Everyone seems to be in search of a sooner route to interrupt even & profitability. Debt financing and other ways to entry capital are getting extra standard. Moreover, business consolidation is anticipated. Not all of it will likely be fairly, there shall be a number of super-structured offers and low-value share swaps. Some firms will merely disappear. Nonetheless, everybody appears to be a bit on the sidelines nonetheless, ready for the state of affairs to get sweatier and the proof to occur.
Derek Streat, Co-founder and CEO of DexCare
The extraordinary monetary and operational strain on hospitals has been extensively documented and vividly obvious over the previous two years, however the sentiment amongst stakeholders on the convention signifies the business is now on the trail to restoration. Well being techniques are pivoting and implementing methods and instruments to successfully tackle challenges and strengthen their resiliency. Take, for instance, challenges associated to workforce retention, turnover, and burnout. Well being techniques acknowledge that the normal strategy to workforce administration is not possible, and the important thing to fixing workforce challenges requires a shift towards driving effectivity and redistributing the workload. Decisionmakers are turning in the direction of know-how options that drive effectivity on the backend, which helps to optimize capability administration and useful resource allocation, which in the end alleviates the burden on employees.
One other key theme on the convention was innovation, which is notable contemplating that is usually a financially targeted convention. Previous to the convention, I used to be listening to fairly a little bit of chatter amongst stakeholders who felt well being techniques had been pulling again on innovation, however the sentiment amongst well being system CEOs at JPM signifies innovation is top-of-mind. This partially is being fueled by intensifying competitors between well being techniques, significantly these in the identical area who’re vying for a similar sufferers. The business’s shift in the direction of consumerization has additionally fueled a way of urgency, and well being techniques now acknowledge that innovation is a necessity to draw new and retain current sufferers by offering a superior client expertise.
Total, the convention highlighted that the business is shifting in the correct course and creating sustainable options to beat present and future challenges. Well being techniques are proving their resiliency and are on observe to emerge from the pandemic stronger than ever earlier than.
Kimberly O’Loughlin, CEO of Well being Restoration Options
We’re all conscious of the workforce challenges which were plaguing the healthcare business over the previous 12 months, significantly with the extreme nursing scarcity. Whereas this stays a significant concern for well being techniques going into 2023, I’m optimistic that we’re trying on the proper levers to successfully tackle this difficulty. One main technique to alleviate the impacts of those staffing shortages is for healthcare organizations to put money into applied sciences that drive effectivity and increase constrained assets. From what I heard lately at JPM, healthcare executives plan to proceed innovating by broadening their digital methods throughout care settings and undertake options, corresponding to distant care monitoring and telehealth, that may ship excessive ROI whereas actually assuaging workforce challenges and burnout.