JPM16: A Land of Opportunity for Oxehealth in the USA
There are few better ways to get up to speed on the state of US Healthcare than by attending the annual JP Morgan Conference in San Francisco.
Now in its 34th year, we hadn't fully appreciated quite what a cornerstone of the healthcare year it has become until we were kindly invited by hosts JP Morgan. With over 400 companies, including a host of interesting pre-IPO businesses, presenting at the main conference, it's an intense introduction even before the two other major conferences and host of spin off events that also come into town.
For a reserved Brit, the whole experience can feel rather like business speed dating on, well...speed but the chance to be reminded of the wealth of opportunity Oxehealth has in the USA was very well worth the trip.
We all know that it's unsustainable to care for our elderly and chronic condition patients in the way we currently do.
But, even so, LHC Group's numbers brought the situation startlingly to life. Under US Medicare, acute care in a hospital can cost up to $2,346 per day to provide; home health costs per day average $47.
Hot companies facing into this challenge at JPMorgan included LHC, Carecentrix and Epic with population health and value based care high on investors' agenda.
Looking at the Future of Healthcare, we think it's clear that Oxecam's entirely contact-free, continuous, medical grade camera based vital signs monitoring will become a vital platform for home health.
As such, it was very satisfying to receive considerable interest in our emerging proposition from a number of significant companies in the space.
Respiratory specialists ResMed gave an insightful presentation on the scourge of sleep apnoea, a condition that interrupts breathing during sleep and which is estimated to affect 26% of all adults worldwide.
In the Future of Healthcare, Oxehealth's contact-free camera monitoring could enable a step change in the cost of diagnosing this chronic condition current solutions for which present significant disruption to patients and expense to providers.
We are already starting to work on sleep apnoea with our mental health customers, where it is of great clinical interest. More widely, the impact of a low cost diagnosis option could be enormous; the cost of Apnoea related illnesses to the US healthcare system reaches hundreds of billions of dollars, quite aside from the human benefit of getting a good night's sleep.
BYOD (Bring Your Own Device) has revolutionised computing at work. It looks set to revolutionise healthcare.
In the Future of Healthcare, we have no doubt users will be able to download ICU quality medical grade vital signs monitoring as a smartphone app, leveraging Oxecam: a true game changer.
In the month when Babylon and PushDoctor have already raised $8.2 million and £25 million in Series A funding respectively, the consumer and employee primary care applications seem clear. And Teladoc and Doctor on Demand presented strongly at JPMorgan.
But consider home health again (not to mention hospice care, eldering care and even non-ICU wards). Just as Uber drivers and waiters (we would have called them servers in San Francisco last week) in the more disruptive restaurant chains have taken the smart phone as the core platform in their workflow, it's not hard to anticipate an Oxecam equipped mobile or tablet becoming the core of the home-visiting health professional too.
JPMorgan provided a fantastic opportunity to learn and to reflect, and for Oxehealth, the USA truly is the land of opportunity.
With American vision and Oxford innovation, the Future of Healthcare might be closer than we think.