This year’s HTLH conference is in the books after four days of discussions on artificial intelligence, weight loss medications, the upcoming election and much more.
More than 12,000 attendees poured into the halls of the Venetian Conference and Expo Center in Las Vegas from Oct. 20 to Oct. 23. While attendees were excited to watch a lineup of celebrity speakers that included First Lady Jill Biden, actress Halle Berry and singer Lenny Kravitz, there were also in-depth conversations happening on the exhibit floor and through panel discussions about the most critical issues in healthcare.
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Here are six takeaways from the event.
AI is still hot — sort of.
The annual HLTH conference is always good barometer of what digital health startups think their potential buyers are interested in. In this regard, attendees couldn’t walk far at the conference without seeing the letters AI splashed across exhibitors’ booths.
HLTH had an “AI Pavilion” section where Microsoft, Deloitte and other companies presented their latest offerings within the technology. Microsoft, Nvidia and GE Healthcare all had keynote presentations focused on AI. Even electronic health record vendor Epic Systems, which only sent a few people to the conference, said it was all in on AI.
Health system executives were a little more measured about AI. Byron Yount, chief data and AI officer at St. Louis-based Mercy, said there’s still a lot of work to be done with the safety, efficacy and privacy of AI deployment. This need for more answers has contributed to the rapid growth of the nonprofit Coalition for Health AI, which is seeking to create guidelines for providers, startups and other organizations to use AI responsibly.
“It’s moving so quickly. … Everyone is grasping for an understanding of how to do it effectively,” Yount said. “They don't want to cause harm. There's a lot of good intention … and I think everyone has aspired toward something like CHAI.”
Investors love AI, too.
The venture capital community, a large contingent at HLTH, also loves the promise of AI. That has been reflected in the venture capital funding numbers thus far in 2024. Andrew Adams, co-founder and managing partner of venture capital firm Oak HC/FT, said many non-healthcare investors who left the sector during the down cycle of 2023 are being lured back in by the potential of AI.
Scott Barclay, managing partner at venture capital firm Insight Partners, also sees AI dominating the funding landscape.
“It's an environment of haves and have nots.” he said. “Teams who are doing quality generative AI and have a specific use case that customers can buy are growing, and investors are throwing money at them with relatively high [valuation] prices.”
GLP-1s bring enthusiasm, cost concerns.
If there's an abbreviation besides AI that dominated the conference, it's GLP-1s. Multiple sessions and virtual care companies touted the potential of glucagon-like peptide-1 agonist drugs to help patients lose weight.
Telehealth companies that prescribe compounded versions of GLP-1s defended the practice amid pushback from big pharmaceutical companies. Employers, including health systems, were focused on how to lower the cost of the drugs. About 10% of Geisinger’s medical costs are from employees using GLP-1s, said Dr. Terry Gilliland, president and CEO of the Danville, Pennsylvania-based health system.
General healthcare policy not likely to shift post-election.
Neither presidential candidate is expected to make sweeping policy changes if elected in November, but there could be some tweaks, according to one speaker at HLTH.
Former President Donald Trump could reverse some smaller changes made by the Biden administration to the Affordable Care Act if he returns to the White House, according to Seema Verma, who served as administrator of the Centers for Medicare and Medicaid Services under Trump. The Republican candidate could also reassess some of Biden’s changes to Medicare Advantage regarding supplemental benefits and social determinants of health, she said.
This summer’s Chevron ruling from the U.S. Supreme Court, which limits the authority of regulatory agencies, could affect certain programs within the Health and Human Services Department, but it would put pressure on Congress to pass specific laws, Verma said.
Providers, payers want tech partners.
Payers and providers continue to seek technology partners to help improve care delivery.
Florida-based Tampa General Hospital, for example, has a $10 million fund to invest in startups and wants to expand it, said Scott Arnold, chief digital and innovation officer. He said Tampa General likes to contract with partners who do their research and show a clear understanding of the industry.
“There are a lot of startups that are in love with their technology,” said Mary Beth Navarra-Sirio, vice president of market development at UPMC Enterprises, who was on the lookout for new partners at the 2024 HLTH conference. “We always joke that you need to be in love with the problem that you're trying to solve.”
Insurer Highmark Health is expanding its partnership with behavioral health company Spring Health. The organizations launched a program in January to provide mental health services to 2.3 million eligible health plan members. Next year, Highmark plans to add an employee assistance program to the platform and offer the service to enrollees in Pennsylvania’s Children’s Health Insurance Program.
Retailers reassess their role in healthcare.
Retailers are still trying to find their footing in healthcare services.
Walgreens is reorganizing its company priorities and taking a step back from VillageMD, a primary care and multispecialty provider in which it has invested more than $6 billion. Mary Langowski, president of U.S. healthcare at Walgreens, told HLTH attendees that VillageMD is no longer a key part of the company’s future healthcare strategy.
Amazon's One Medical, a primary care provider the tech giant purchased in a $3.9 billion deal in 2023, is looking for alternative expansion opportunities. One Medical and Ohio-based Cleveland Clinic said this week they will collaborate to open a primary care office in 2025. If all goes well, the two organizations could open additional locations over the next few years.
