- Keynote: Embracing Innovation and Disruption
- Embracing Innovation and Disruption to Create Health Systems of the Future
- Digital Health and Big Data: Unlocking Solutions for Better Outcomes and Access
- Quality in Health: Create a Culture, Not a Checklist
- Innovative Delivery Models Creating Value for Patients
- Emerging Trends in Life Sciences: Bio Pharma, Complex Generics, Specialty Pharma
- The Health Sector in Emerging Markets: An Investors' Perspective
- Women's Leadership in Health Care
- Public Sector Expectations of Private Sector
- Embracing Medical Technology Innovation: Hype or Reality?
- Case Studies: Health Services, Life Sciences and Medtech
- Technology in Health in Africa
- Innovative Business Models Serving Lower Income Populations
- Innovation in Pharma Supply Chains
- Building the Future Health System Piece by Piece
For the eighth time, IFC Global Private Healthcare Conference brought together leaders in private healthcare from around the globe. The theme of this year’s conference was Disrupting the Present, Building the Future—Embracing Innovation to Deliver Results. Two days of great networking and discussions took place in Miami, USA from March 27-28, 2019.
475 participants | 302 companies, institutions, and governments | 70% senior executives | 60 countries |
In this short inspirational video, some of the 475 delegates who came from all corners of the globe tell you how they are using the power of private health.
Delivering efficient, affordable care for all
Opening the conference, Elena Sterlin, Global Head of Health and Education at IFC, welcomed the participants to Miami. She noted this was IFC’s 8th global private healthcare conference and that the event has “come a really long way from a very small gathering in Washington, DC 16 years ago to what is today the leading conference on private healthcare in emerging markets.” She recognized the presence of 470 delegates from more than 60 countries and expressed a special thank you to the conference sponsors who made the event possible.
“Who is in the best position to deliver efficient, affordable care for all independent of whether they are rich or poor, powerful or without connections?”
A key overarching question for delegates, said Sterlin, is: “Who is in the best position to deliver efficient, affordable care for all independent of whether they are rich or poor, powerful or without connections?” A core belief at IFC, she added, is that private healthcare is essential to the good functioning of any healthcare system. That is why IFC has expended great effort over the past decade in explaining and expanding private healthcare in emerging markets. Looking to the future “we must be bold and we must harness innovation and technological advancement” to tackle the toughest healthcare challenges, “the most prominent one being fast growth in chronic disease,” she said.
Embracing Innovation and Disruption
Keynote speaker Daniel Kraft, Faculty Chair for Medicine at Singularity University, a Silicon Valley think-tank which he cofounded a decade ago, focused his presentation on the need for healthcare systems to embrace and utilize disruptive and innovative technologies. He said that systems can seem somewhat stuck in the past, operating a model “sick care” instead of “health care.”
Systems can seem somewhat stuck in the past, operating a model “sick care” instead of “health care.”
Data is being gathered on patients, but it tends to be intermittent and episodic, which creates a reactive system “where we wait for the patient to show up with a heart attack or a stroke.” Moving forward, the goal is to have more “precision care,” one where prescription drugs, for example, are effective for most of the patients who take them, not just some. It also means prioritizing wellness, prevention, and early diagnosis, and making therapies less expensive and more widely available.
ETHICAL PRINCIPLES IN HEALTH CARE
Stephanie von Friedeburg, IFC Chief Operating Officer, announced the Ethical Principles in Health Care, a new IFC initiative aimed at creating a standard for all companies operating in emerging markets.
“We are envisioning that private health providers will voluntarily commit to these principles and that investors will place a premium on adherence to them. Sixteen organizations have indicated that they are early adopters. A year from now, we would like to see every one of your companies on our list of early adopters.”
IFC produced these principles in the firm belief that it is in the long-term business interests of health care enterprises to adhere to ethical principles: good for business, patients, staff and, ultimately, the right thing to do. The principles unpack in an accessible, methodical way the issues that health care organizations need to pay attention to in this area.
For full set of principles go to: www.ifc.org/epihc
Wrapping up the conference, Tomasz Telma, Global Industry Head for Manufacturing, Agribusiness, and Services at IFC, acknowledged each of the conference’s generous sponsors and thanked both participants for their energetic engagement, and the speakers and organizing committee.
“For us, this is a convening forum—an ability to bring together the thought leaders, operators, the policymakers every couple of years.”
If we wish to attain the goal embedded in the conference theme of ‘embracing innovation to deliver results’, he stressed that “we cannot expect to do this without the active participation of the public and private sectors.” His big takeaways from the discussions were first, that the quality of care is as important as access to care and second, that governments are increasingly understanding how private sector investors in this space can drive efficiencies and contain costs.
ON THE MARGINS
Showcases, Roundtables, Think-Tanks, Workshops
IFC organized several other initiatives and events in Miami on the margins of the plenary and breakout sessions. These included:
- Tech Innovation Showcase: Twenty developers of innovative healthcare technologies and tech-enabled devices provided live demos and discussed their innovations with conference participants in a designated exhibition space.
- Topical Think-Tanks: Five brainstorming sessions were organized with operators and experts on the following topics: Public-Private Partnerships, Biopharma, Health Tech, Insurance, and Senior Living. These think-tanks will form the basis for a series of upcoming briefs and White Papers.
- Investment Impact Roundtable: An ‘Investors for Health’ roundtable discussion was organized, focusing on the impact that investors and investees can have as individual organizations, and the potential impact of investors working as a collective.
- Universal Healthcare Workshop: On March 29, the day after the conference concluded, in partnership with the Health Care Management Department of the University of Pennsylvania’s Wharton School, IFC hosted a half-day workshop on what the private sector can do to implement Universal Healthcare.