Fierce Healthcare reporters returned from Las Vegas on Wednesday after four days packed with meetings, interviews and on-stage conversations all focused on healthcare innovation. We connected with healthcare executives, founders and clinicians to learn how they are tackling hard problems. We listened to compelling panel discussions and fireside chats targeting issues as versatile as GLP-1s, primary care, the future of psychedelics and wearables.
And, we attended a few happy hours (it is Las Vegas).
It's hard to condense all that information into a quick recap, but here are 5 notable trends that caught our attention. And, below that, executives share their key takeaways from the conference.
Conversations about artificial intelligence are shifting
AI was by far the dominant theme at the conference, from new products being announced to sessions focused on ethical and safety issues to the marketing on exhibitors' booths.
"As a 40-year veteran in AI and medicine, this is a remarkable time for technology. It's a very exciting time. It's great to see and hear about the administrative applications," said Eric Horvitz, Microsoft's Chief Scientific Officer, speaking on stage at HLTH.
The exhibit hall at HLTH 2024 was packed with vendors offering AI-enabled technologies, with a big emphasis on AI assistants and medical scribes. Big tech vendors like Microsoft, Nvidia and GE Healthcare highlighted their AI offerings on stage.
There is still a lot of hype about AI in healthcare, but, the conversations around AI seen more restrained than just a year ago as health systems, payers and tech companies come to grips with the challenges that still need to be tackled. Practical and serious conversations around self-regulation, standards and regulation are moving forward, as Emma Beavins reports. At HLTH, the Coalition for Health AI (CHAI) unveiled the first applied model card, completed by AI imaging company Aidoc.
As several executives pointed out, many hospitals and health systems are testing out AI copilots but it's unclear what comes next.
Future adoption of AI tools will come down to accuracy and clinician trust and will require partnering with reliable vendors.
"The only way to get to the point where you know what the performance of the model is is to partner with somebody like a Microsoft or somebody else that you actually deeply trust to test the hell out of the system. You have to subject the system to a tremendous amount of test cases. A" said Joe Petro, corporate vice president of Microsoft Health & Life Sciences (HLS) Solutions and Platform, during an on-stage interview.
It's easy for a company to do an incredible demo (demonstration) with a generative AI tool as a proof of concept, Petro noted.
"I could show up to the CEO of a company and say, 'Look at this. It translates into 27 different languages. Or it's possible to detect this kind of anomaly or diagnostic condition on an image.' But when you subject it to every single corner case and every single anomaly that you actually see in the field, that's when you become very partner dependent to put something in place that is measurable, that is repeatable, that you can do surveillance on and track the trust of it," he said.
Plenty of "unsexy" work left to do in healthcare
AI gets big headlines and flashy presentations, like videos of human-like digital AI assistants. Healthcare AI startups also are getting big checks from investors.
But, there are a lot of companies focused on what's called the "picks and shovels" of healthcare to make healthcare data more accessible or building the pipelines for data to flow. And all of this is necessary for AI to scale in healthcare.
"People are starting to realize the unsexy parts of healthcare are where the energy is needed, so, infrastructure, data, compliance, security, labeling and tagging, all the picks and shovels in the gold rush, where people are realizing they need to pay attention," said Dr. Mitesh Rao, co-founder and CEO of healthcare data company OMNY Health, on the sidelines at HLTH.
Interoperability has been a key topic in healthcare for at least a decade and now federal regulations are moving the needle on data exchange. Rao and other executives say the movement to adopt AI is actually pushing advances in connecting different data sources.
"I'm very excited to see a lot of regulation push forward things like TEFCA. But what people forget is that just because you can get access to data out of the hospital system doesn't mean it's usable. So people forget that data is incredibly messy. It's incomplete. The tech stacks are not designed to truly collect deep, comprehensive data; they're designed for billing and so you're basically taking platforms that are built for billing and billing collection and trying to use that to now create data that's going to be viable for research or viable for AI. And that's very challenging. I think this is coming to a head now because I think the AI world is pushing it," Rao said.
Industry "middlemen" on the hot seat
While the HLTH conference is focused on technology innovation, almost every conversation about the future of healthcare gets back to issues of access and affordability for patients.
Pharmacy benefits managers have been on the hot seat as policymakers aim to bring down rising drug costs in the U.S. During Congressional hearings, legislators have grilled the heads of the three largest PBMs about their business practices as well as vertical consolidation within the industry.
In September, the Federal Trade Commission sued the titans of the PBM industry for anticompetitive practices and artificially raising the price of insulin drug prices.
Paige Minemyer caught at session at HLTH focused on the "middlemen" of the industry with a conspicuous absence of PBM or insurance company executives on the panel. The executives on the panel spotlighted misaligned incentives that drive up costs for patients.
Lori Reilly, chief operating officer for PhRMA, the Pharmaceutical Research and Manufacturers of America, said the industry is "at an inflection point” for profits for middlemen with 40% of every dollar on a prescription going to PBMs.
"Patients are coming to the pharmacy counter and can’t afford medication and they don’t know why," Reilly said during the panel discussion. “If patients can’t access the medicines, we do need to do more.”
Amazon Pharmacy is a relatively newer player in the space, having acquired PillPack in 2018. Amazon is betting big on its pharmacy arm, with the retail giant aiming to bring its focus on ease of use for consumers to the prescription drug space.
"We're using the Amazon core experience as really our guiding principle to what we reimagine healthcare to look like [patients] want healthcare to be as easy and seamless as any other experience from Amazon. That's a tall order as none of these systems talk to each other," said Laura Jensen, director of manufacturer and provider business development at Amazon Pharmacy, during the panel.
“I think we sometimes forget how low the bar is in terms of digital healthcare experiences," she said, noting that healthcare lacks a fully integrated e-commerce experience.
Amazon is investing in pharmacy logistics with plans to offer same-day delivery of prescription medications to 20 new cities in 2025, which more than doubles its current operations. By the end of 2025, Amazon Pharmacy will be able to deliver same-day to 50% of the country
“We ultimately think that healthcare is far too difficult to access," Jensen said.
Rick Gates, senior vice president and chief pharmacy officer for Walgreens, said the retail drugstore giant is focused on better engaging consumers.
"We have to think about digital enhancements, digital check-in schedules; things that make it easier for consumers to actually engage with pharmacy," Gates said. “There’s so many things that we can do but we’re not making it easy enough for consumers.”
Women's health in the limelight. But will it move the needle?
Women's health took center stage at HLTH this year, quite literally, when the First Lady of the United States Jill Biden, Ph.D. announced at HLTH that the federal government granted $110 million in funding for women’s health research and product development, as Emma Beavins reported.
There were at least half a dozen sessions focused on women's health, reproductive health and supporting women at work.
Actor, producer, director and entrepreneur Halle Berry spoke at HLTH about her personal journey with menopause and the launch of midlife women's health and wellness company Respin.
But will these high-profile announcements spur investors to pour money money into women's health startups or motivate founders to focus on women's health issues?
Investment in women’s health rose by 5% between 2022 and 2023, according to a Deloitte report. But, that still a miniscule percentage of investment in healthcare overall. Women’s health represented just 2% of the $41.2 billion in venture funding that went to health companies in 2023, according to Deloitte’s analysis.
Time will tell if talk turns into action.
Nikole Benders-Hadi, M.D., Talkspace's chief medical officer, is optimistic about the growing conversations about women's health.
“HLTH was rich with discussions about the diverse health needs of, and issues faced by, women, particularly how we can transform healthcare and create a more integrated and holistic approach for all women. I had several powerful discussions with other attendees about the importance or raising awareness about postpartum depression and other postpartum conditions to help women and new parents prepare for such a profound change," Benders-Hadi said. "Ahead of us is also an important opportunity to prioritize funding for research into underfunded areas affecting women (like postpartum depression), as well as better integrated care options for women to ultimately create a more holistic approach to care – as employers, health systems and providers.”
Psychedelic medicine session draws a crowd
Psychedelic medicine is far from being mainstream but a session about the future of the sector drew plenty of interest from HLTH attendees with a packed audience, Anastassia Gliadkovskaya observed.
The FDA's recent decision to delay the approval of psychedelic medicines has led the Department of Veterans Affairs and members of Congress to take more direct action. Discussions in Congress and at the state level are focused on finding another path forward to get these promising treatments in the hands of Veterans in need sooner.
The VA is taking a proactive approach by sponsoring research initiatives and establishing specific protocols for psychedelic studies in hopes to gain approval in the near term.
“I really want the VA to be the leading research facility in the world," U.S. Congressman Morgan Luttrell said during the panel discussion. "We want the science to speak for itself and put everyone in the comfort zone”
Psychedelics as medicine is still a new concept, especially to members of Congress, Luttrell noted. He has taken psychedelic medications himself, but moving this forward will require conversations about the science and data and sharing his own personal experience. If the VA and Congress go "too hard too fast, it will break and completely lose momentum," he noted.
“We’re talking about lives here, so how fast can we go is a very valid question," Luttrell said.
The VA plans to fund studies on the potential efficacy and safety of psychedelic compounds such as Methylenedioxymethamphetamine (MDMA) and psilocybin when used in conjunction with psychotherapy to treat Veterans with PTSD and depression. This is the first time since the 1960s that VA is funding research on such compounds, noted VA’s Under Secretary for Health Dr. Shereef Elnahal.
The VA will work with a network of nonprofits to use federal funds, Elnahal said. Smaller innovative ventures are testing some of these therapies and can combine that with VA clinical expertise and rigor to do multiple site trials in multiple states, Elnahal said. "The patients that need these therapists the most are our veterans," he said.
Sen. Kyrsten Sinema, (I-Az.) said FDA approval is required to make psychedelic medicines more widely available for individuals in a safe manner. "The FDA has never approved a drug before that requires certain type or length of therapy, which MDMA would, so this is uncharted territory," she said.
“It makes sense for Congress to keep it in the VA and DOD world and partner with the private community that is making leaps and bounds” Sinema said, noting that it's important to have that collaboration to push toward FDA approval.
Executive takeaways
“HLTH brought together a diverse group of passionate, thoughtful healthcare innovators that want to transform the industry for the better. One theme that resonated strongly with many, including myself, was the idea that we must drive consumer-focused strategies in healthcare. Being a healthcare consumer in the U.S. today can be very challenging, leaving many feeling overwhelmed or even overlooked by the system, and this needs to change. I believe AI will be critical in helping to closing these gaps, and it feels like the tide is turning about how we talk about AI. Now the industry is focused on defining what AI is and how it can help providers and payers deliver better care more efficiently.” — Michael Meucci, President and CEO at Arcadia
"HTLH is an excellent gathering for identifying collaborations and acquisition opportunities that bring significant value to our health system partners. This is consistent with the desire for the healthcare IT sector to become less fragmented and offer broader, more comprehensive platforms." — Adam McMullin, CEO, AvaSure.
"The 2024 HLTH event was a confluence of artificial and human intelligence that will pave the way for collective intelligence. Great minds from throughout the healthcare industry came together to share their experiences and explore the paradigm shift taking place in the technology industry, which is poised to redefine the boundaries of AI capabilities. The event served as a foundation for creating bold AI strategies that can make a difference in people’s lives." — Vijayashree Natarajan, SVP, Head of Technology, at Omega Healthcare
"One thing that jumped out at me at HLTH was the level of collaboration and partnership. Attendees, often in competitive spaces, coming together with a common goal of improving patient outcomes and reducing healthcare costs. This included both care providers and health tech companies, as well as investors eager to deploy their capital to solve healthcare’s toughest challenges. One night I attended a great dinner with about 60 healthcare leaders and the focus of discussion was on leveraging the unique skills and capabilities of each organization to drive change. It was like we were crowdsourcing the future of healthcare, and it was so inspiring. Data was at the center of many conversations at the conference, with a general consensus that the real value of data is to enable personalized care by gaining a full understanding of the individual patient or plan member." — Kim Perry, CGO, emtelligent
"For me, HLTH 2024 illuminated healthcare's transformative path forward. The consistent theme that resonated throughout was that meaningful change requires bold leadership, innovative technology, and unwavering commitment to equity. Session topics spanned AI advancement to women's health initiatives, policy reform, and discussions focused on advocacy, with messaging focusing on another of HLTH’s themes: the importance of collaboration and continued innovation." — Rajeev Ronanki, CEO, Lyric
"HLTH had its usual combination of speakers, panels and trade show floor activities. But for many of us, the key is getting a critical mass of great people together for networking, balanced with hearing a new idea or seeing a new company that sparks interest. This year was all about the networking for me, with the most interesting part being finding potential partners looking to blend their technology or services with our national virtual care teams. New product ideas abound when these collisions happen - whether it was a meeting planned four weeks ago, or an incidental connection on the showroom floor. In a world where too many things are remote, it's nice to have the time and place to connect in-person again and brainstorm together." — Lyle Berkowitz, MD, CEO of KeyCare
"Most of my week was spent in the exhibit area, meeting with the technology and services companies assisting providers and other vendors to adopt cutting-edge technology that helps reduce clinician burnout, improve patient outcomes, and improve the business/financial health of healthcare providers. The focus on assisting clinicians was apparent, and given the studies warning us of shortages of caregivers it's very important we look to help clinicians do more while not being stretched too thin or spending more time on administrative work than patient care. Scaling how we can care for the patients and providing the right level of care is going to continue to be important and it's exciting to see how our industry is taking up that challenge." — Ryne Natzke, Chief Revenue Officer, TrustCommerce, a Sphere company
"It was amazing to see the absolute explosion of AI in healthcare. From the presentations I saw a couple of things standout. The presentation from the CEO of Cleveland Clinic stated they are working on multiple projects in AI. The one that actually got deployed was an AI scribe. It was interesting that that was the project that was a priority. I heard from many colleagues that they don't want to interact with a computer at all. They just want it record and produce a note and dismissing the wealth of computing power that could augment patient care. The second presentation that stands out was from GE Healthcare. This presentation was so over the top in its claims about AI it was hard to believe. GE claims that through their development of AI, the 4 billion people in the world without access to healthcare will somehow have it with the introduction of AI. All I can say is WOW. Maybe a bigger impact from their enormous spend in AI could be diverted to getting clean drinking water to those who need it. To sum it up, the hype of AI was in full force with very few practical solutions being implemented to date. The healthcare IT industry needs to first ask providers what they need help and then think about how to get to EMRs." — Jay Anders, MD, chief medical officer, Medicomp Systems
"HLTH24 did not disappoint, delivering engaging discussions on the responsible use of AI, the importance of deploying proper guardrails, and ensuring its accuracy in healthcare. Mental health and women’s health took center stage. Halle Berry’s inspiring journey in founding a menopause-focused company, for me, was a standout moment. It was also fascinating to witness the dance between investors and startups as they court each other in exploring partnerships and opportunities." — Nick Patel, M.D., Physician Executive Partner with Pivot Point Consulting
"It was interesting and yet not surprising, to see so much interest in employer contracting at HLTH this year. Our CEO's panel, “Is Selling to Employers Still Viable?” was packed. She recommended reverse pitching -- which entails listening to employers' concerns before presenting solutions. Employers are concerned with quality outcomes, patient experience and, ultimately, cost and affordability." — Won Andersen, COO, Purchaser Business Group on Health
"At the AI@HLTH Pavilion, I saw plenty of healthcare AI companies showcasing impressive tech, but what was glaringly absent was physician involvement. Why should an engineer or technical founder the voice telling us their solution is 'good' for doctors? It’s easy to build algorithms in a bubble, but if you’re not putting clinical expertise at the core of development, you’re setting yourself up for a trust crisis – and worse, patient risk." — Matt Murphy, CEO and co-founder of Cascala Health
"What stood out to me at HLTH this year was the growing consensus that AI in healthcare is no longer a future concept – it's here, driving efficiencies and outcomes. The focus has shifted from 'what if' to 'what's next,' as healthcare organizations are actively implementing AI solutions to streamline care, enhance diagnostics, and improve patient engagement in real-time." — Amanda Bury, Chief Commercial Officer, Infermedica
"It felt like throwing a party for a team that went 0-17 but has hope for better next year. As Bill Parcells said, you are what your record says you are, and the scoreboard shows healthcare costs increasing and patient outcomes worsening. I was encouraged by the creativity and urgency in hallway conversations, but we need to push those topics to the main stage and boardroom to drive real change." — Chris Darland, CEO of Peerbridge Health