The 35th Annual J.P. Morgan Healthcare Conference
The 35th Annual J.P Morgan Healthcare Conference will take place January 9th through 13th 2017. This event continues to be one of the life science industry’s largest conferences of the year. It brings thousands of investors and executives from around the world to San Francisco where companies present their latest innovations hoping to find their next partner or investor. Simply put, there is no more important single event of the year within the world of healthcare investing.
January 9, 2017 – January 13, 2017
Westin St. Francis Hotel
335 Powell Street
San Francisco, CA
Trends From Last Year:
1. Changing payment structures. Every organization is starting to get paid in different ways. They are taking on payment risk for delivering better care at a lower cost. While in some cases these new contracts represent a relative small percentage of revenue, it appears that every health system is skating to where the puck is going and betting that value-based care will be the system of payment of the future. And that it is a better, more responsible way to run their organizations.
2. Population health and understanding cost and margins. Everyone is continuing to get their arms around population health so they can better manage groups of patients. Not a surprise, nothing knew there. What is new is the increased focused on understanding cost as a requirement to driving margins in bundled care contracts. Clearly cost accounting is quickly becoming a core system with a focus on understanding both inpatient and outpatient cost, something traditional cost accounting systems can’t do.
3. Managing unit cost and reducing the cost of care delivery. Per the point above, the one strategy that works in both traditional fee-for-service and value-based care is driving out cost. Every organization that presented identified lowering the per-unit cost of care delivery as a top board-level strategic objective. Some targets were as high as $400 million, but everyone had a target. This positions these organizations to take on risk-based and capitated contracts and actually know their margins.
4. Becoming a health plan/company. Almost everyone is going after the risk premium now. Of the 23 organizations that presented, more than 20 already have a health plan in place or are developing one. One example is Intermountain Healthcare’s insurance product, which 760,000 people have as their primary plan. Most of these delivery systems are now referring to themselves as health and healthcare companies vs. hospitals and healthcare systems.
5. Outpatient shift. There continues to be a major shift to the outpatient setting, both in volume and revenue. Health systems are organizing themselves around this by increasing their presence in the ambulatory setting. West Des Moines, Iowa-based UnityPoint is an example of this. The system now has 100 + clinics throughout Iowa, Wisconsin and Illinois.
6. Personalized medicine. Personalized medicine is becoming increasingly important so that specific treatment protocols can be developed for specific patients. As an example, Geisinger is using predictive analytics to look at family history to determine potential health issues before they happen. They can proactively intervene with patients as it relates to their diets, medications, etc. As many in this market know, when Geisinger speaks, every health system listens.
7. Scale. There is a push to continue to get larger through mergers and acquisitions to survive and thrive in the current healthcare marketplace. This allows systems to reach more patients, manage populations more effectively and to negotiate better rates from suppliers/insurers.
8. Partnerships. Per the point above on scale, health systems are increasingly looking to partner with other health systems that are geographically connected to compete and serve patients better. As an example, Aurora Health Care has started a partnership with seven other health systems in Wisconsin called ‘About Health.’ They compete with these organizations in some markets, but also partner with them to create scale.
9. Consumerism. For the first time ever, healthcare is becoming a consumer product. People want better access to care and they want to know how much they are paying for their care. They want ease of access and don’t want to wait for a doctor who is only open from 9 a.m. – 5 p.m. As an example, Advocate in the Chicago market just bought 50+ of Walgreens’ clinics inside stores. This embraces consumerism and gets them in front of new patients.
10. Brand. Strong brands and reputations are taking center stage. Many organizations are focused on their brand’s reputation in their markets as healthcare becomes a consumer-driven marketplace. It was pretty interesting to hear the level of emphasis on this — clearly this ties to the consumerism push.
Clearly there is more in motion, but these are some of the key trends that showed up consistently throughout the presentations. It is refreshing to see the clarity and consistency. It provides a great opportunity to drive a scalable transformation of the health system that doesn’t just benefit one patient or one community, but every patient in every community. Thanks to Becker’s Hospital Review.
Interested in meeting the referralMD team while you are visiting San Francisco?
referralMD improves collaboration and patient access between health systems by providing communication tools with clinical decision support for expedited physician-to-physician (P2P) e-consults and referrals.
Platform Overview: referralMD is a San Francisco based health-tech startup with a mission of optimizing and solving the $150B referral leakage problem. We are a HIPAA compliant, cloud based technology-enabled service company focused on improving referral decisions and care planning of primary care physicians by providing communication tools and clinical guidelines for expedited physician-to-physician (P2P) referrals and e-consults. We passionately believe in improving healthcare by embracing technology to empower p
hysicians to deliver optimal care.
Target Market: The platform is offered to all organizations, (Providers, Hospitals, ACOs, IDNs, IPAs, PCHM, Payers, Medical Device Companies) regardless of size or specialty allowing them to network with each other more efficiently.
Places to Eat & Drink Over the Weekend
By Ramesh Munnangi
Email Ramesh at ramesh@getreferralmd.com if you have any questions or inquiries
Places to Eat
Fine Dining
Bouche
603 Bush St
San Francisco, CA 94108
Phone number (415) 956-0396
Yelp: Four Stars
Price: $$$
This part restaurant part wine bar offers some of the finest and freshest French cuisine in all of northern California. Both cozy and elegant, Bouche SF provides a fine dining and wining experience outside the heart of Union Square.
Hakkasan
1 Kearny St
San Francisco, CA 94108
Phone number (415) 829-8148
Yelp: Four Stars
Price: $$$
With 10,000 square feet in space and the ability to accommodate 170 guests, Hakkasan SF is a sight to behold. Located in the One Kearny Building and with a great view of downtown San Francisco, Hakkasan offers a unique blend of Asian fare, while also specializing in exotic tea and cocktails.
The Rotunda at Neiman Marcus
150 Stockton St
San Francisco, CA 94108
Phone number (415) 249-2720
Yelp: Four Stars
Price: $$$
Overlooking Union Square, The Rotunda at Neiman Marcus is a lavish lounge that is great for business lunches, fancy dinners, cocktail receptions, and even afternoon tea. Take a break from shopping or visiting the sights and grab a glass of champagne and a quick bite at this hidden gem.
Bluestem Brasserie
One Yerba Buena Ln
San Francisco, CA 94103
Phone number (415) 547-1111
Yelp: Four Stars
Price: $$$
This brasserie focuses on fresh and simple dishes with a unique twist. The rustic decor is inviting and yet, magnificent. With a variety of wines sourced from Napa and Sonoma on tap, Bluestem is sure to be a memorable dining experience during your time in San Francisco.
Casual
809 Bush St
San Francisco, CA 94108
Phone number (415) 885-1325
Yelp: Four and a Half Stars
Price: $
This casual taco and burrito joint offers a distinct Asian flair. Combining Korean influences into the Mexican food that we all know and love, Tacorea is a one of a kind culinary experience. Try a Kimchi Burrito or the Bulgogi Tacos and you’ll satisfy cravings you never knew you had.
Hogwash
582 Sutter St
San Francisco, CA 94102
Phone number (415) 361-5500
Yelp: Four and a Half Stars
Price: $
If you’re looking for a craft beer to go with some house made sausage, then Hogwash is for you. This classy gastropub features over 30 exceptional beers and some awesome food. Make sure to try the Curry Fries (homemade fries covered in curry sauce and duck egg)!
Places To Drink
Golden Gate Tap Room
449 Powell Street
San Francisco, CA 94102
Phone Number (415) 677-9999
Yelp: Three and a Half Stars
Price: $$
This three story sports bar is one of my personal favorite places to hang out with friends and catch the game. Grab a pitcher of craft beer, play some shuffleboard, and tune into one of t
he many TVs playing various sporting events. You’re sure to meet some fellow fans of your team and make some new friends in the city!
Clock Bar at The Westin St. Francis – Hotel Bar
335 Powell St
San Francisco, CA 94102
Phone number (415) 397-9222
Yelp: Three and a Half Stars
Price: $$$
If you’re not in the mood to stray far from the conference, then you can check out the Clock Bar at The Westin St. Francis. Serving some of San Francisco’s finest cocktails, this hotel bar is the creation of renowned chef, Michael Mina. Sit back, relax, and sip on one of the truly delightful concoctions that they serve up, while never leaving the comfort of the hotel lobby.
Press Club
20 Yerba Buena Ln
San Francisco, CA 94103
Phone number (415) 744-5000
Yelp: Four Stars
Price: $$$
Dress in your best when you visit this upscale wine bar and lounge. Oozing glamour and sophistication, Press Club offers a wealth of vintage wines smartly paired with savory small plates to please your palate to its fullest. Located just two blocks away from Union Square, this hotspot is a must for any socialite looking to mix and mingle.
Redwood Room at the Clift
495 Geary St
San Francisco, CA 94102
Phone number (415) 929-2372
Yelp: Three and a Half Stars
Price: $$$
This historic bar at the legendary Clift Hotel has been renovated to include a more modern flair, debuting new furniture and artwork. Yet, it still retains its old charm through the use of its original redwood paneling, giving the bar’s interior a distinctly rustic vibe. Come grab a drink and a snack and listen to local San Francisco DJs spin some tunes!
Best Cafes/Coffee Shops
Bancarella
350 Powell St
San Francisco, CA 94102
Phone number (415) 924-7478
Yelp: Three and a Half Stars
Price: $$
This quaint Italian cafe is sure to delight! Grab an authentic Italian espresso and a fresh pastry, take a seat at the outdoor patio, and watch the hustle and bustle of Union Square around you.
Iron Horse Coffee Bar
25 Maiden Ln
San Francisco, CA 94108
Yelp: Four and a Half Stars
Price: $
This relatively unknown pop-up coffee stand brings credence to the term “hole in the wall.” The shop is hidden away in an alley, but for good reason as it has some of the best coffee in the city. Sporting a sign that says “Coffee That Doesn’t Suck,” Iron Horse stays true to independent coffee shops everywhere. Look out for the Romper Room sign to find this secret spot and enjoy a good cup o’ joe.
Other Events To Check Out
Ice Skating 2016/2017 Season at Union Square
Tuesday, November 2, 2015 to January 16, 2017 – 10:00am to 11:30pm
OPEN DAILY
10:00 am – 11:30 pm
90 Minute Sessions – sessions start on even hours
Admission
General Admission $12
Children (Eight and Under) $7
Skate Rental $6
Chempetitive has released a 2017 Survival Guide to the Conference that is very helpful:
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Receptions
You can search for your own using this special Google Filter. Example: Type Allintext:jp morgan reception – you will find links to the various receptions and parties.
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