#JPMHC2020 – The Good, The Bad, and the Opaque

With

Bill Russell

27 Health System CEO/CFO teams shared their accomplishments strategies and financials at the JP Morgan Healthcare Conference.  I took notes just to share it with you.  Hope you enjoy.

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January 24, 2020: Today we continue our debriefing of this year’s J.P. Morgan Healthcare Conference, the annual symposium that brings together industry leaders and members of the investment community. In the last episode, we covered the types of organizations that presented as well as some of the key themes that came up in the last two iterations of the event. Today we zoom in on the 2020 proceedings, taking a deeper look at what each of the presenters brought to the table. Some of the key themes that came up this year were customer data use, customer experience, asset-light solutions, expense management, diversified revenue, and applied genetics. Most of the developments were positive, with strong examples of how to handle mergers and upgrade UI technology given by Bons Secours Mercy and Ascension respectively. As far as technology goes we also get an idea of where AI precision medicine is at from Geisinger. Additionally, we saw some great new innovations with institutions like Aurora and NYU Langone implementing self-diagnostic structures such as a living well metric and a capacity command center. It is becoming clear that there are many things that need to start being done differently in the industry, so it was heartening to see health systems beginning to take heed of this at the event.

Key Points From This Episode:

  • Appreciation for Intermountain’s good financials and facilitation of a gun use conversation.
  • How well Bons Secours Mercy has orchestrated their merger.
  • Baylor Scott and White’s health plan and asset-light strategy for entering the Austin market.
  • Mass General Brigham’s aim to enter new markets and diversify their revenue.
  • Advocate Aurora’s new idea to gauge their performance by implementing a living well metric.
  • What CHOP is doing to help kids by using gene therapy.
  • How Northwestern Medicine could be even more of a ‘healthcare-without-borders’ type.
  • Appreciation for Henry Ford which is practicing responsible growth on many fronts.
  • A brilliant tech innovation at NYU Langone: a capacity command center.
  • Moves Geisinger is making as a major player in the area of AI precision medicine.
  • Heartwarming stories told by Seattle Children’s Hospital and their good use of partnerships.
  • The forward-thinking strategies and propensity for partnerships at Jefferson Health.
  • A need for specialty centers and what City of Hope is doing to fill it.
  • Many fronts of improvement seen at SSM, such as a health plan and growing TeleVisits.
  • Privacy concerns and Ascension’s decision to focus internally on tech-related UX.
  • Why the Providence presentation was confusing due to a lack of operations transparency.
  • The good strategies displayed by OSF related to the markets they serve.
  • Important stresses on platforms displayed by Mayo’s presentation.