GLP-1, Brian Thomson kills loom large at JPM Health | Real Time Headlines

San Francisco, known for its large population of hoodie-wearing tech workers, was packed with thousands of suit-wearing executives this week. JPMorgan Chaseyear healthcare conference.

Leaders from major global health systems, venture capital firms and corporations gathered in the hotel lobby to discuss business and strategy for 2025. .

This year’s meeting, commonly known as JPM, was held a month after UnitedHealthcare CEO Brian Thompson took office. shot to death In New York City. The news was welcomed by Americans, with a flood of posts on social media express dissatisfaction towards healthcare industrymany people shared stories of negative experiences they had with insurance companies.

More than 10 companies, including Cigna and walgreensThey subsequently canceled their appearance at JPMorgan, according to a CNBC analysis of the meeting agenda. There was a heavy police presence at the Westin St. Francis Hotel, the conference’s main venue, and many companies also increased security for private events and parties.

“I think the underground conversation around water and cocktails is obviously what happened to the CEO of UnitedHealthcare,” said Weili Shao, president of metabolic health startup Omada. “What does this mean for health care? What shifts should happen? And how do we make things more accountable?”

Erik Wexler, CEO of Providence, a nonprofit health system, said Thompson’s murder was a “shocking, sad event” that served as a wake-up call for the health care industry.

“Why are we going different ways here? Why are we fighting?” Wexler said. “Our job is to do good things for people who desperately need us in the most important moments of their lives, whether you’re a payer or a hospital.”

While Thompson’s death drew significant attention at the conference, the excitement and discussion about 2025 was also palpable. AI and a blockbuster weight-loss drug called GLP-1, investors appear to be cautiously optimistic about a possible turnaround in the digital health market.

“There are a lot of amazing things coming in health care,” he said Dexcon CEO Kevin Thayer.

“Pharmaceutical companies and companies like ours, we work very hard to improve people’s lives, and we make a huge difference,” said Thayer, who knows Thompson well. “Be optimistic, give us a break, we’re all trying to do good.”

Here are CNBC’s key takeaways from JPM 2025:

Generative AI steals the show

Generative AI will undoubtedly be the “it girls” in healthcare in 2024, and that seems unlikely to change in 2025.

As the U.S. health system grapples with burnout, staff shortages and razor-thin margins, companies are racing to develop artificial intelligence tools to streamline some of the industry’s more tedious administrative tasks. At JPMorgan Chase, this topic is actually unavoidable.

For example, health care payment companies Weixing Announced a new generative artificial intelligence feature designed to quickly help doctors Fighting Insurance Denials By automatically drafting appeal letters. Amazon Web Services announced a new partnership with venture capital firm General Catalyst to accelerate the development and deployment of artificial intelligence tools for healthcare. Healthcare startup Abridge declare Mayo Clinic to launch artificial intelligence-powered Clinical Recording Technology Approximately 2,000 clinicians across the enterprise.

“At the highest level, I think artificial intelligence is already having a huge impact in healthcare, and that cannot be understated,” said Dr. Shiv Rao, founder and CEO of Abridge. “At least in our segment, we generate revenue every day. The feedback has been incredible and the adoption rates show this is a real thing.”

NVIDIACompanies that make the hardware that powers artificial intelligence applications are particularly popular attendees at JPMorgan this year. Company announces partnerships with multiple healthcare organizations, including clinical research providers IQVIAneurotech startup Synchron, genomics company lighting company and the Mayo Clinic, an academic medical center.

“Our revenue between direct revenue and revenue with partners is well over $1 billion,” said Kimberly Powell, vice president of healthcare at Nvidia. She added that Nvidia sees more room for growth in AI healthcare applications.

Senior executives are optimistic about GLP-1

At presentations and cocktail parties this week, CNBC spoke with executives who are surprised by the benefits of the booming GLP-1 class of weight-loss drugs.

Novo Nordisk and Eli Lilly and Company In recent years, diabetes and obesity treatments have had great success in helping patients lose weight. one can learn The patient was found to be taking NovoFor example, Wegovy’s weight-loss drug resulted in an average weight loss of 10% over a period of up to four years.

Studies show that GLP-1 may also help treat conditions such as cardiometabolic disease, kidney disease, and addiction. The U.S. Food and Drug Administration approved Eli Lilly’s weight loss drug Zepbound in December as a treatment for sleep apnea.

Some analysts estimate that anti-obesity drugs could develop into a $100 billion industry by the end of the century.

“These drugs are great, and they’re not going away,” said Dexcom’s Sayer.

Supply shortages are a major hurdle for companies in the market, as soaring demand makes it difficult for many patients to access treatment. These drugs often cost $1,000 per month without insurance, and for many Americans, coverage remains disparate.

Even so, many health care executives remain optimistic that GLP-1 will be effective in improving public health in the United States

“I’ve been joking, it’s the two G’s, right? Like GLP, GPT,” Omada CEO Sean Duffy said.

Uncertainty about the Trump administration

before being elected president Donald TrumpHeading into Monday’s inauguration, JPMorgan Chase executives had many unanswered questions about his administration’s plans for the health care industry.

Health care was not a focus of Trump’s campaign, meaning his policy goals for the industry were unclear. In addition, he also did some controversial Cabinet picks since the election.

Trump nominates vaccine skeptic Robert F. Kennedy Jr. Heads Department of Health and Human Services, Celebrity TV Host Dr. Muhammad Oz Lead Centers for Medicare and Medicaid Services and Pancreatic Surgeons PhD. Marty McCary Leading the Food and Drug Administration. All three nominees still need to be confirmed by the Senate.

“Until we know more about the incoming administration in the U.S., markets are going to be volatile,” Rebecca Stevenson, head of Americas healthcare investment banking at HSBC, told reporters on the sidelines of the conference. , and become more depressed.

Owen Tripp, CEO of virtual care platform Included Health, said the Trump administration appears to be business-friendly and has said it will push to increase access to care.

“What matters is not who is in the White House, but the fact that the Republican Congress and Senate are aligned in principle with expanding access and transparency,” Tripp said. “I think there will also be more transparency in drug pricing and health care pricing, which It’s also very positive.”

watch: Wharton’s Americus Reed says UnitedHealthcare tragedy is a wake-up call for corporate America