Overview
McDermott HealthEx convened more than 1,300 of the most influential leaders in healthcare and life sciences. The event emphasized creativity, transformation, and growth, with sessions dedicated to innovation, AI-powered partnerships, value-based care, and financial performance, among other topics.
McKinsey & Company was the official knowledge partner for the inaugural McDermott HealthEx, providing insights into market trends for stakeholders across the value chain. Post-event, McKinsey and McDermott summarized key takeaways from the conversations speakers and attendees had on the ground.
Key Takeaways
Healthcare firms across the entire value chain are responding to uncertainty with innovation.
- Regulatory changes: In the face of shifting regulatory policy affecting topics ranging from Medicaid funding to drug pricing, organizations are turning to breakthrough innovations, new business models, and other opportunities to dramatically improve performance (e.g., monetization of existing services, technology- and AI-enabled care delivery).
- Macroeconomic and trade fluctuations: Healthcare and life sciences organizations are also looking for creative solutions that can help them prepare for and navigate geopolitical and macroeconomic challenges. This includes conversations around redesigning value chains, to ensure that patients have access to the supplies, services and treatments they need.
Investors continue to prioritize value creation across assets, even in today’s uncertain dealmaking environment, focusing on ways to develop scale in existing geographies and markets.
- Core market focus for providers: Providers are doubling down on existing locations and markets to create efficiencies at scale.
- Technology and AI: Firms across the spectrum are using large-scale data and advanced AI tools to drive value creation opportunities. For example, one hot topic of conversation at McDermott HealthEx was tech-enablement of care workflows.
Stakeholders across the value chain are innovating in care delivery, customer experience and payment models.
- Payer strategies: Payers are deploying innovative solutions (e.g., value-based and at-risk payment models for vendors) in response to existing macroeconomic and regulatory pressures, which are creating an environment where providers and services firms are asked to drive value while pursuing efforts to lower the overall cost of care while maintaining quality, safety and access to care.
- Pharma services players are innovating in their go-to-market strategies to bring solutions to their customer base and strengthen relationships.
- Generational influence: Millennial decision-makers are demanding more streamlined, consumer-oriented care experiences, driving healthcare firms toward more tech-enabled care delivery, flexible payment models.