When compared to HIMSS or JPM, HLTH is still a fairly small healthcare conference, but it’s getting mightier every year. Last week in Las Vegas, our team was among 10,000 attendees, 300 speakers, and hundreds of exhibitors — attendance was up nearly 3x since HLTH debuted in 2018.
So, what makes HLTH unique? From our perspective, it’s the emphasis on fostering a cross-industry community. HLTH is led by individuals focused on innovation and transformation across the entire health ecosystem. Leaders come from care delivery, insurance, biopharma, business, capital markets, technology, public health, and more. It’s the convergence of multiple disciplines at one event that makes HLTH truly one-of-a-kind – and the extras like DJs, all-day food and drinks, and live concerts help, too.
We were thrilled to have the opportunity to engage in dialogue with investors, like-minded innovators, and healthcare heavyweights. We left Vegas thinking about a few recurring themes that were present throughout the four-day conference.
Key Takeaways from HLTH 2022
1. Healthcare innovation is thriving
Despite a challenging healthcare climate, optimism about the future of was plentiful. There were big announcements like Amazon Clinic along with hundreds of eager early-stage startups on display. It was encouraging to see the enthusiasm and ingenuity from entrepreneurs dedicated to solving a hot-button issue in healthcare.
For the first time, HLTH partnered with StartUp Health to give 90+ companies a platform to present their ideas, receive feedback, and network with other entrepreneurs and investors. It was inspiring to witness continued growth within the industry as a reminder that new solutions are on the horizon.
2. Industry feeling the effects of slowed economy
Many sessions and conversations revolved around the economic conditions facing digital health companies – high interest rates, rising inflation, widespread layoffs, and market uncertainty has put healthcare executives on notice. Unfortunately, some startups are struggling to find funding and public companies are cutting budgets or conserving cash.
It’s true that many health systems have yet to fully rebound from the staffing shortages and burnout augmented by COVID-19. One remedy is practice automation which can help physicians manage their clinical and non-clinical tasks. These solutions are key to fill staffing gaps and relieve the administrative burdens that are forcing physicians to spend more time than they should as administrators instead of patient care.
3. Legislation’s impact on healthcare
Another main thread throughout HLTH was the impact of legislation on individual rights related to healthcare.
When Roe V. Wade was overturned earlier this year, the decision had an immediate impact on the reproductive rights of women across the country. In response, there has been a reinvigorated focus on how to improve access to proper care for women and children, particularly in a digital age that enables new types of coverage. Maven, a women and children-focused health startup who presented at HLTH, recently raised $90 million in new funding to support their services. Their presence, and that of many women’s health startups, signifies the industry’s commitment to maintaining care standards in spite of the reversal.
Lastly, the No Surprises Act and Transparency in Coverage Rule, both of which went into effect earlier this year, were another key topic of conversation. While they were intended to provide patients with more insight and protection against surprise care costs, they have found payers and providers alike struggling to meet their requirements. Emergency medicine groups are feeling the effects financially and are looking for relief entering 2023. Digital health companies work closely with emergency providers and could feel similar effects soon.
Madaket CEO Eric Demers (center) and Mocingbird CEO Dr. Ian Maldom (left) discussed the value of strategic platform partnerships for seamless client experience during the HLTH 2022 StartUp Health Festival (November 13-16, 2022).
In the Wake of HLTH22
While excitement about the future of healthcare energized the expo hall, HLTH was a humbling experience knowing the current challenges facing our industry. As usual after an event, our team walked away inspired and enthusiastic about how Madaket can move healthcare forward. We’re committed to building a brighter future with our automated provider data management platform – helping to eliminate administrative waste for all.
Didn’t get a chance to chat with Madaket at HLTH2022? Get in touch to learn how our Provider Data Management platform automates your administrative ops and protects your revenue stream.