This week, I attended the annual JP Morgan Healthcare conference in San Francisco along with members of the Exact Sciences senior management leadership team.
Though we have attended this conference in the past, this trip was particularly exciting: it marked the first time we’ve been asked to formally present the Exact Sciences story. Why is this event such a big deal? The JP Morgan Healthcare conference spotlights and is attended by the healthcare industry’s most exciting young companies, hundreds of investors representing investment banks and venture capital firms from around the world, major market movers, and notable industry followers.
With so much going on at the conference, it is difficult to generalize about the overall theme of the meeting. But this year, a couple of things stood out.
First, the overarching issue that everyone was buzzing about and the question every investor asked of every company in attendance: “Will your technology be affordable? Does it add to or decrease dollars put into or taken out of the healthcare system?”
Given the current state of the national economy and the healthcare system’s role in our national debt, this question came as no surprise. Exact Sciences has a firm answer to this question, and we believe it was one of the reasons our story was so well received.
The second topic of note was the low level of interest in “incremental” advances in patient care and benefit. This speaks to the issue of the large amount of monetary investment required to support something that improves patient outcome only slightly.
On the other hand, the majority of attendants demonstrated a high level of interest in hearing about truly “game-changing” technologies with the potential to elevate standards of care. Our technology at Exact Sciences can screen millions of people who have not been screened for colorectal cancer, potentially saving thousands of lives in the process. That message really resonated with the audience.
Finally, one of the most exciting things about the conference was the high level of interest demonstrated by national media in Exact Sciences’ technology. We completed numerous interviews with influential members of the media, including an appearance on Jim Cramer’s show on CNBC.
I’m always excited to bring you news about trends in the colorectal cancer industry. Stay tuned for trends from future healthcare conferences with Exact Sciences.
Which trend do you find most interesting? Why? Share your thoughts with us below.