The 43rd annual J.P. Morgan Healthcare Conference, commonly known as JPM, will feature presentations from more than 500 private and public companies, focusing on hospital mergers and acquisitions, insurers’ financial performance and other topics. Attendees will hear healthcare companies' investment strategies. Security has been increased following the murder of UnitedHealthcare CEO Brian Thompson last month at the insurer's investor day in New York and other recent attacks.
Follow here for live updates throughout the day or catch up on our coverage.
- Day 1
- Day 2
JPM 2025 winds down
That's a wrap on Modern Healthcare's live coverage of JPM 2025, which ends Thursday following a number of pharmaceutical company and other presentations.
Attendees are beginning to trickle out of the conference, as many of the providers, insurers and health company presentations are complete. "I'm so tired. I look so tired," one attendee remarked after days of discussions at the Westin St. Francis hotel and Convene event venue.
Check modernhealthcare.com Friday to read about the industry themes that emerged at this year’s event and catch up on days one and two, or check out our complete coverage here.
8:50 p.m. - WellBe Senior Medical puts expansion on hold for 2025
WellBe Senior Medical will not enter new markets this year, but plans to return to expansion efforts in 2026, CEO Dr. Jeff Kang said Wednesday at JPM.
WellBe offers health assessments, care coordination, medication management and urgent care to 153,000 at-risk Medicare Advantage beneficiaries. The home care provider launched in Illinois and Georgia in 2020 and has since entered seven additional markets, including New York via a partnership with Excellus BlueCross BlueShield.
In 2025, WellBe will focus on improving its operating model to limit unnecessary emergency room visits, Kang said.
“We made a decision to invest in growth in 2024, and then in 2025 it is largely going to be focusing on hardening and scaling our models to position ourselves for future growth,” he said.
— Alex Kacik
6:50 p.m. - Talkspace rolls out AI-generated personal podcasts
Talkspace is creating artificial intelligence-generated podcasts that will be personalized for therapy patients.
Dr. Jon Cohen, CEO of the virtual mental health provider, said the podcasts will be created using information from patients' therapy sessions and the company’s proprietary clinical database. Talkspace providers can use the podcasts as a tool to keep members engaged in between sessions, he said.
“It’s taking all of the information in our experience and then it's matching what you're saying to generate your personalized podcast,” Cohen said. “Because of the size of our dataset, we don't know if anybody else has that kind of ability. That's what makes it so unusual and that's what makes it so personalized.”
Cohen gave a preview of what the AI-generated podcasts would sound like during the company’s presentation at JPM.
The podcasts are not Talkspace's first foray into using AI to assist with therapy. In September 2023, the company developed an algorithm for use during text-based patient encounters to identify people at risk of suicide. During Wednesday's presentation, Cohen said the algorithm is 86% accurate in determining if a person is at risk of suicide.
Cohen said the company plans to roll out algorithms to assist patients dealing with eating disorders and abuse, as well.
Talkspace’s AI engine is powered by 8 billion words, 140 million messages and 6.2 million assessments.
— Gabriel Perna
6:15 p.m. - Duly Health & Care poised for growth through acquisitions
Duly Health & Care has more than 10 physician group acquisitions in the works, CEO Dan Greenleaf said at a Wednesday presentation.
The private equity-backed physician group is on track to add more than 100 physicians and advanced practice providers to its 1,600-clinician network in 2025.
“We’re back on the acquisition trail,” Greenleaf said. “We just acquired a 30-person behavioral health entity, and we have another 10-plus opportunities in the pipeline.”
Duly received a $1.45 billion investment from Los Angeles-based private-equity firm Ares Management in 2017. In November, Duly sold a portion of its ownership stake in two ambulatory surgery centers in the Chicago suburbs to surgery center operator Surgery Partners for $87 million.
Duly's partnership with Surgery Partners will help the Downers Grove, Illinois-based physician group double its ambulatory surgery center footprint from six to 12 facilities over the next five years, both through acquisitions and organic growth, Geenleaf said.
— Alex Kacik
5:25 p.m. - Clover Health's near-term focus on core MA markets
Insurtech Clover Health is concentrating on Medicare Advantage plans in a few select states rather than looking to enter new ones, CEO Andrew Toy told investors Wednesday during the second — and final — presentation from health insurers at JPM.
“I’m not saying we won’t go to new states with our plans,” Toy said. “However, I do want to emphasize that if we want the next dollar of revenue, the next member [or] the next dollar of EBITDA [earnings before interest, taxes, depreciation, and amortization], those are almost certainly coming from our core states: New Jersey and Georgia.”
He added the company has a multi-year opportunity to capture more market share in those states.
Clover has already seen big membership growth. The company counted more than 100,000 Medicare Advantage members at the beginning of the month, up 27% from the same time last year, according to a Monday news release.
The insurer's size pales in comparison to national Medicare Advantage heavyweights, UnitedHealth Group subsidiary UnitedHealthcare, Humana and CVS Health division Aetna. But Toy said improved benefits and lower out-of-pocket costs for plan year 2025 spurred members to switch from rival carriers.
Toy also said the company wants to improve its star ratings and grow its Counterpart Health technology business, which launched last year.
— Lauren Berryman