The month of January is crazy – but in a good way! At Timmaron Group, we know this very, very well. Why? Because it’s the month when the two most significant conferences in tech and healthcare take place: CES and the JPMorgan Healthcare Conference. What’s more, they occur in just the first two weeks! We’ve been participating in these conferences for more than twenty years. Our CEO, Barb Stinnett, has led several product introductions at the Consumer Electronics Show (the formal name of CES) over the years, as an executive for multiple tech firms, large and small. And, as a longtime client of JPMorgan, she’s been on the invited list for more than two decades for their healthcare confab – an event now in its 44th year. (Note: only certain JPM clients get access to the official conference sessions. The majority of those converging on San Francisco this week, some 30,000+ people, can only attend ancillary, unofficial events throughout the city.)
As of this writing, the CES show has wrapped up. The JPM event is in full swing, and Barb just attended a private event on the “top 20 investments of JPM” on the second evening of the conference. More on her insights on what’s called “JPM Week” below. But first…
What were the takeaways from CES? It was no secret that AI was the main focus, again. This year, however, “the emphasis was on AI driving the mechanics of products,” Barb said. The obvious, well-hyped theme was robotics, but Barb noted other AI products impressed her, including earbuds that provide virtually instant translation in multiple languages. No human involvement necessary!
CES panels that Barb attended included one on technology in human communication — meaning how people relate to one another. That not only includes language translation, but also things like dictation for physicians, which can now go right into a patient’s electronic health record. The benefit here is that it can lead to time savings that will actually reduce billing rates for doctors. And that can ultimately mean this AI technology will reduce spending on Medicaid and Medicare! Yes, Barb noted that CES provided insights in applied AI for both the consumer technology and healthcare industries.
Insights from the JPM Conference. Two big things coming out this week in San Francisco, according to Barb Stinnett, are determining “the right AI for healthcare,” and — as you have heard here before — the replacement of enterprise software with AI, which is a major trend now underway. Barb also noted that healthcare technology companies are looking at how the major EHR systems, Epic and Oracle-Cerner, work, and how AI can replace or enhance them — especially with the use of voice. Vendors are looking at the entire workflow of healthcare and how it can be improved, by roles — starting with the admin check-in and the nurse’s welcome, and especially looking at saving doctors’ time, where applicable.
One big number Barb noted: JPM estimates that $500 billion will be invested as a result of this year’s conference! That would certainly seem to be a record. (If interested, you can see the entire agenda for this year’s JPM Healthcare Conference here.)
Applying AI to healthcare is central on everyone’s mind attending JPM Week this year. Another focus is how to bring the patient to own their own health — in a 50-50 collaborative partnership with the provider. This is the first step, said Barb, in changing how the industry can start a process to determine, “What is insurance?” Not just as it affects the doctor — who of course can be sued — but changing to a model of patient acceptance of their own health. The big thing here, said Barb, is that “redefining insurance could actually be done without government!”
Timmaron Group has much experience and unmatched connections in the industry, and we stand ready to help you navigate the changing landscape and achieve your goals. To learn more, just reach out today: hi@timmarongroup.com.
