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 necessary. Whereas the financial system was challenged in 2022, buyers are able to do enterprise in healthcare. The stakes are getting increased and the chance in entrance of us is very large.
Pete Anevski, CEO of Progyny
People who find themselves at present fighting infertility, and those that wish to begin or develop 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 ladies are impacted by infertility, and 63 p.c of LGBTQ+ people will use assisted reproductive expertise, foster care, or adoption to turn out to be dad and mom. Firms that wish to prioritize DEI targets and keep aggressive on this tight labor market want to supply fertility and family-building advantages – presently 45 percent of workers look for an organization that gives them.
Worth-based care is rising in prominence throughout the healthcare trade – a pattern that may proceed in 2023. With projected medical price 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 might be looking for out corporations with complete healthcare advantages that cowl each facet of their lives, together with their fertility.
John Erwin, CEO of Carenet Well being
Healthcare is at present in a wait-and-see setting attributable to ongoing challenges referring to fallout from the pandemic and actual considerations a couple of recession. There continues to be a serious backlog of deferred procedures, together with excessive burnout for suppliers and scientific employees. Main care continues to be seen as an necessary 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 referring to income, price, and labor linger. Firms positioned squarely within the nucleus of stress factors are resonating available in the market, and with regards to 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 expertise adoption than I did whereas talking with software program and well being system executives on the JPMorgan Healthcare Convention. There may be an awesome sense that in the event that they do nothing, they may survive the following 12 months, but when they do one thing they might thrive regardless of risky macroeconomic situations. The key hurdle is figuring out what must be carried out, and we will have a look at what trade leaders have already applied to information that imaginative and prescient: leaders are embracing expertise’s means 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 transferring to carry 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 troublesome capital markets, a number of methods are utilized to make sure continuity of enterprise. Earlier-stage corporations are being bridged by their current buyers to keep away from down rounds. Those who raised massive rounds in 2021 and employed plenty of folks to speed up development are reducing massive percentages of their headcount. Everyone seems to be searching for a quicker route to interrupt even & profitability. Debt financing and other ways to entry capital are getting extra fashionable. Moreover, trade consolidation is anticipated. Not all of will probably be fairly, there might be plenty of super-structured offers and low-value share swaps. Some corporations will merely disappear. Nonetheless, everybody appears to be a bit on the sidelines nonetheless, ready for the scenario to get sweatier and the proof to occur.
Derek Streat, Co-founder and CEO of DexCare
The extreme monetary and operational stress on hospitals has been broadly documented and vividly obvious over the previous two years, however the sentiment amongst stakeholders on the convention signifies the trade 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 method 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 expertise 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 sometimes 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 have been pulling again on innovation, however the sentiment amongst well being system CEOs at JPM signifies innovation is top-of-mind. This partly is being fueled by intensifying competitors between well being techniques, significantly these in the identical area who’re vying for a similar sufferers. The trade’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 trade is transferring in the suitable course and creating sustainable options to beat present and future challenges. Well being techniques are proving their resiliency and are on monitor 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 trade over the previous 12 months, significantly with the extreme nursing scarcity. Whereas this stays a serious concern for well being techniques going into 2023, I’m optimistic that we’re wanting on the proper levers to successfully tackle this concern. One main approach to alleviate the impacts of those staffing shortages is for healthcare organizations to spend money on applied sciences that drive effectivity and increase constrained sources. From what I heard lately at JPM, healthcare executives plan to proceed innovating by broadening their digital methods throughout care settings and undertake options, resembling distant care monitoring and telehealth, that may ship excessive ROI whereas actually assuaging workforce challenges and burnout.