Each January, the J.P. Morgan Healthcare Conference brings bankers and executives to San Francisco to announce innovation, make deals and attend the many events that connect media with healthcare, digital health, biotech, pharma and technology investors.
Over the past six years, W2O has hosted an exclusive luncheon during the J.P. Morgan conference to facilitate game-changing discussions about the digital health space. This year’s event featured an all-star panel of industry leaders, who discussed key trends and important signals about the future of healthcare.
Looking back over the great discussions had and information shared, three trends stood out.
1. Collaboration fuels innovation.
J.P. Morgan has expanded from its roots of a couple hundred analysts and investors in biotech and pharma to more than 15,000 attendees. It now spans start-ups to global titans across the healthcare landscape, enveloping artificial intelligence, gene editing and bioengineering, behavioral health, telemedicine, data analytics and digital health.
With this growth, new and interesting partnerships are emerging as organizations across the ecosystem explore how to speed drug development, reduce costs and deliver a better patient experience and better care.
For Stacy Feld, Head, Johnson & Johnson Innovation her touchstone comes back to answering the right science and clinical questions that benefit consumers. During a panel focused on investment, she remarked, “The best innovations and the best ideas are just as likely to come from outside as they are from within Johnson & Johnson.”
2. Patient-centricity has new relevance.
Tying into the trend of greater collaboration, we also heard more from audiences on how they are putting patients’ needs first.
At the W2O Digital Health Luncheon, Harlan Levine, M.D., president, strategy and business ventures at City of Hope, remarked, “To get great treatment for cancer today, you really do need to treat the person as the consumer for personalized medicine.” His organization’s strategy is to employ a consumer-focused, digital approach to oncology to create a personal blueprint for every cancer.
On the payer side, organizations are focused on giving patients more choice, making accessing care easier. As Bryce Williams, vice president, lifestyle medicine at Blue Shield of California, noted, “If you really believe in empowering members, you give them more choice.”
3. Data privacy and protection concerns are still unanswered.
We know patient data drives innovation. But, despite efforts to connect, analyze and activate this data, serious concerns remain about how data is being protected, how it’s being used and who has access. With more traditional technology companies making serious inroads into health, a lack of transparency has created deep skepticism around data use without strong privacy and consumer protections.
Many consumers may not be aware that their data may be already being used. As to who is responsible, Mona Siddiqui, the chief data officer, Office of the Chief Technology Officer at U.S. Health and Human Services, commented, “Consumer education is important, but the onus is also on organizations to make sure they’re as transparent as possible around the use of our data.”
As we face the year ahead, these issues will continue to be challenges as we work to better serve the disparate needs of patients and stakeholders. As we come together to make care more affordable and accessible to more people, it is exciting to see the new partnerships, policies and solutions develop to take healthcare – in all its forms – to the next level.