Our Key Takeaways from HLTH 2022
Redesign Health sponsored HLTH 2022 in Las Vegas last week, where Redesigners and leaders from our Operating Companies connected with industry innovators and attended thought provoking panel discussions. We asked them to share some of their key takeaways from the event — major themes included Social Determinants of Health (SDOH) data, value-based care, interoperability, and women’s health.
1. SDOH Data- Acquiring, assembling and mining SDOH data was a major topic of conversation at the conference, which drew more than 9,000 attendees. Data from the No Surprises Act was also discussed. Effective beginning in January of this year, the act protects consumers from surprise billing if they have a group health plan or group or individual health insurance coverage.
“Many people were talking about how we can use this data, and the question becomes what action can providers and payors take that maximizes patient outcomes while controlling costs, and what’s within their ability to influence? Data standards within this new data segment need to be addressed.” - Missy Krasner, Venture Chair, Redesign Health
2. Value-Based Care- Our team heard from many who felt the state of value-based care is still more rhetoric than action. A shared sentiment was that the transition to this form of care is moving much too slowly, despite healthcare’s transition away from fee-for-service. Roughly 6-7% of total revenue at primary care practices can be attributed to value-based arrangements, and surgical specialities that involve bundles had even less value-based payment as a percentage of total medical revenue.
“Many attendees I spoke to said they agree that the current FFS state will not continue. The switch to value has been slow, but it’s important.” - Missy Krasner
“Most people I talked to are in agreement that value-based care is not here yet, but it is coming and we need to get ready for it.” - Lesley Solomon, Venture Chair, Redesign Health
3. Market Conditions- The state of the market was expectedly a hot topic this year. Startups are seeing the need to return to the basics and focus on their missions. Many investors share a bearish, yet optimistic outlook. Digital health experts say the slowdown in record funding will actually benefit the industry.
“Investors I spoke with talked about market conditions which translates over to tighter budgets/cash conservation, scrappier teams, and more focus on product market fit early.” - Missy Krasner
“Most of my discussions were around 2023 remaining soft, but investors were optimistic that money would start flowing and get deployed in the quarter two time frame. Investors also seemed somewhat delighted that valuations were “coming down to earth” and that would be the factor driving investment flows again.” - Rob MacNaughton, Venture Chair, Redesign Health
We left HLTH as inspired as ever to tackle the industry's toughest issues and made valuable connections with many who share our vision of redesigning health for everyone. Interested in joining us? Explore our partners page for more information.
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