The 2023 JP Morgan Healthcare Conference is the epicenter of healthcare investing. The conference draws thousands – many of whom never set foot in the St. Francis Hotel (where the actual conference happens). It’s wheeling and dealing, coffees and dinners where entrepreneurs and investors dance toward (and away) from each other. The energy – and the attire – is very much not Washington, DC. It’s casual and frenetic, with effectively no decorum.
But this year, policy was as much en vogue as the discussion of “net present value,” revenue projections and slick slide decks. That is, of course, because of the passage of the Inflation Reduction Act and its provisions impacting drug development and reimbursement.
Prism Group was a part of the discussions and debates that ultimately led to the legislation (and we continue to work on its amendment and implementation), which is why we traveled West to brief investors and biotech CEOs on how the legislation might shape their plans.
Our largest takeaway: the gap between policymakers and investors has never been larger, and a great deal of education about this legislation and its impact is critical. Entrepreneurs too need to know the details to shape their pitches to a complex capital environment right now.
Prism Group will continue participating in these conferences to ensure policy updates are on the menu, right next to the Ghirardelli desserts.