Key insights from HLTH 2024

This past October in Las Vegas, healthcare leaders weren’t discussing moonshots or far-future innovations. Instead, they were tackling a more pressing challenge: turning bold visions into practical reality.

The 2024 HLTH conference marked a decisive shift from healthcare’s typical future-gazing to a sharp focus on implementation and impact—a timely transition as healthcare spending barrels toward $6.2 trillion by 2028¹.

One message was clear throughout the event: the healthcare industry stands at a critical inflection point. With healthcare organizations investing an estimated $156.5 billion in digital transformation initiatives for 2024 according to Gartner², the pressure to deliver tangible results has never been greater.

The Evolution of Healthcare Innovation | The Key Discussion Topics

Women’s health emerged from the shadows of underinvestment with Jill Biden’s announcement of $110 million in federal funding for research and development. This commitment signals a potential turning point for a sector that has historically struggled for attention—despite women making 80% of healthcare decisions³ and controlling $10 trillion in U.S. household financial assets⁴. The stark reality? Women’s health ventures secured just $2.5 billion in funding last year, representing a mere 2% of healthcare venture investment⁵. This gap between opportunity and investment suggests significant untapped potential. Hollywood star Halle Berry reinforced this message, advocating passionately for expanded menopause research and treatment options.
The GLP-1 revolution commanded significant attention, and with good reason. Market projections suggest these medications could generate $100 billion in annual sales by 2030⁶. Yet with monthly costs exceeding $1,000, they’ve become a powerful symbol of healthcare’s accessibility challenge. Recent data shows access and affordability remain critical issues, with insurance coverage limitations remaining significant barriers.
Of course, AI (Artificial Intelligence) also dominated the stage, where discussions revealed a marked maturation in the industry’s approach. Cleveland Clinic’s CEO, Dr. Tom Mihaljevic, captured this evolution perfectly: while AI’s immediate impact might be overstated, its long-term transformative potential could be underestimated. This perspective is supported by McKinsey’s latest analysis, suggesting AI could unlock $360-$400 billion in annual value for healthcare⁷—but only if implemented thoughtfully and systematically.

The conference also highlighted healthcare’s expanding definition of wellness and treatment modalities, marking a significant shift toward more holistic approaches to health.

The emphasis on “food as medicine” initiatives reflected growing recognition of nutrition’s role in preventing and managing chronic conditions, with several sessions exploring how healthcare organizations integrate nutritional interventions into traditional care pathways.
Perhaps most striking was the Department of Veterans Affairs (VA) groundbreaking approach to mental health treatment. VA Under Secretary for Health Dr. Shereef Elnahal announced the agency’s first funding of psychedelic research since the 1960s. This initiative, focusing on MDMA and psilocybin therapy for veterans with PTSD and depression, represents a bold step toward embracing innovative treatment modalities. The VA’s commitment to becoming “the leading research facility in the world” for psychedelic medicine, as emphasized by Congressman Morgan Luttrell, signals a remarkable shift in how traditional healthcare institutions are approaching previously stigmatized treatments. These developments underscore a broader trend toward more comprehensive, patient-centered approaches to health and wellness, moving beyond conventional pharmaceutical interventions to embrace a wider spectrum of therapeutic options.
In another compelling example of celebrity advocacy driving meaningful change, rock icon Lenny Kravitz shared his work improving oral health access in the Bahamas, emphasizing the dignity-centered approach of their initiatives. “You’re giving them their health back, you’re giving them their smile back, their dignity,” Kravitz noted, while highlighting a crucial insight for healthcare providers: success comes from treating patients with respect rather than pity. This perspective reinforces the importance of maintaining human dignity in healthcare delivery, regardless of socioeconomic status or geographic location.
The intersection of climate change and healthcare also emerged as a critical focus area, with leaders emphasizing the fact that planetary health and human health are inextricably linked. Dr. Chethan Sarabu reframed healthcare’s foundational Hippocratic Oath of “do no harm” to include environmental impact—a timely perspective given the industry’s substantial footprint. Recent studies show that as much as 65% of hospital food ends up as waste, while the sector’s digital transformation presents another environmental challenge: the healthcare industry generated as much as 62 million tones of electronic waste in 2022, with only 22.3% documented as formally collected and recycled. The session explored healthcare’s dual role as both contributor to and victim of climate change, from addressing climate-related health disparities in vulnerable populations to examining the environmental cost of new technologies—even AI implementation carries a significant environmental burden, with GPU cooling for large language model processors consuming substantial water resources. Leaders emphasized that the path forward requires viewing sustainability not as an add-on initiative but as a core component of healthcare delivery and innovation.

From Innovation to Implementation – HLTH’s core messages in Data & Technology

The HLTH conference also revealed a growing appreciation for healthcare’s foundational data and technology challenges. While 83% of healthcare executives report accelerating their digital transformation efforts, only 23% rate their initiatives as “very successful,” according to recent research⁸. This gap highlights the importance of focusing on the fundamentals:

Data infrastructure that can support modern healthcare demands
Security frameworks that protect sensitive information
Integration strategies that enhance rather than disrupt clinical workflows
Validation processes that ensure real-world effectiveness

Lastly, equity and access conversations also took center stage when FDA Commissioner Robert Califf warned about AI potentially widening healthcare disparities. This concern isn’t theoretical—as a number of recent studies have highlighted the potential harm that AI algorithms can cause for underserved populations⁹. For an industry where 25% of rural hospitals in the US are at risk of closure¹⁰ and 80% of health outcomes are determined by social determinants¹¹, technology must bridge rather than something that expands these gaps.

Looking Ahead

For pharmaceutical companies, these insights point to several critical priorities:

Investment in robust data infrastructure isn’t optional—it’s existential. With 75% of healthcare organizations planning to increase their AI investments in the next three years¹², the ability to leverage data effectively will separate leaders from laggards.
Real-world evidence has never been more critical. As value-based care models expand, demonstrating concrete outcomes becomes paramount.
Partnership strategies must evolve. The most successful organizations will be those that can effectively collaborate across the healthcare ecosystem—from technology providers to care delivery networks.

The path forward requires bold action, but action grounded in practical reality. The next 18 months will likely determine which organizations can successfully translate HLTH 2024’s visions into impact. Success won’t come from revolutionary promises alone, but from methodical execution, strong partnerships, and evolutionary progress built on solid foundations of data, evidence, and patient-centered care. As one speaker powerfully noted, “The future of healthcare isn’t about the technology—it’s about the humanity it enables.” With healthcare spending continuing to climb and digital transformation accelerating, the ability to execute effectively on bold visions—while never losing sight of the human element—will separate tomorrow’s leaders from today’s visionaries.