Changing venues this year to the Las Vegas Convention Center, HLTH 2023 did not disappoint with the show floor buzzing about the latest healthcare innovations. The focus this year centered around actionable insights and artificial intelligence that allows organizations and industry leaders to reshape the entire spectrum of healthcare — for providers, payers, pharma and patients.
The BrightInsight booth held a packed reception on Monday, a first for us at this conference. Executives from several biopharma and medtech leaders stopped by and shared their impressions for digital health.
We asked thought leaders for the top trend they were seeing and hearing at HLTH 2023, and you can see a short video with their responses below.
We also showcased key updates to the BrightInsight Platform and Disease Management Solution at our booth, including new mobile capabilities that enable rapid configuration and localization of patient apps. Since launching the Platform in 2018, we have invested $100M into the underlying infrastructure to ensure it delivers industry-leading scalability, functionality, configurability, speed, compliance and global availability to meet our customers’ needs now and well into the future.
The BrightInsight Platform now includes new mobile and data analytics capabilities, which enable our biopharma customers to rapidly build, configure, localize and optimize patient companion apps at scale, in a more cost-effective manner. Our customers can configure an app in days and localize for new markets in minutes.
Following last year’s launch of our Disease Management Solution, a configurable suite of digital applications built to engage patients and providers with the aim of improving outcomes, BrightInsight has added more features that support biopharma companies’ core use cases — from patient diagnosis, to treatment selection, to patient support program engagement and more.
As our CEO and Co-Founder, Kal Patel, MD notes, “we fundamentally believe that digital companion apps can enhance the patient journey by providing digital interventions that support patients. Unlike the many point solutions available in the market today, our compliant BrightInsight Platform and Disease Management Solution allow biopharma companies to develop digital solutions that can scale across disease states, geographies and brands."
Throughout HLTH, we connected with attendees across the healthcare ecosystem, including entrepreneurs, investors, life sciences companies, health systems and providers. In addition to the usual AI hype, we observed a real focus on the need to show value early.
While VC investments and biopharma budgets are tight, and will likely remain that way through the end of the year, business deals will continue to be inked with companies that can demonstrate proof points. Life sciences executives in particular have a healthy skepticism around digital health and are careful about where they are making investments. Vendors need to demonstrate clear ROI — whether that’s improved adherence or retention, increase in first-fill rate, or other metrics — executives need this data to demonstrate value.
General Catalyst had the industry buzzing when it was mentioned during a session that the firm planned to purchase a health system, extending its interest in these organizations beyond its Health Assurance Partner Ecosystem — of which we are a proud partner. It will be interesting to see how this, and other news from the show, develops.
Key takeaway: With digital health investment slowing and budgets in biopharma tightening, BrightInsight is well positioned as our platform fuels digital companion apps that enable biopharma companies to extract additional value from therapeutics, offering the best bet for ROI.