INTERSECTION CAPITAL
PRESENTS...
July 20 & 21, 2023 | San Diego, CA
Surgical Investor 2023
an exclusive West coast finance center event
The Operating Room of the Future | For investors and entrepreneurs looking to capture the enormous opportunity in healthcare today, look no further than the most expensive – and profitable – real estate in every hospital.
WHO SHOULD ATTEND
July
Hosted by Oren Klaff
Starts @ 9:00 am
DAY 1
HOW OPERATING ROOMS MAKE MONEY
July
Speaker Jason Howe
Starts @ 9:00 am
DAY 2
HOW INVESTORS MAKE MONEY IN MEDTECH TODAY
BONUS:
SPECIAL SESSION
BY INVITATION AND APPLICATION ONLY
Meet select CEO’s and analyst for 1:1 deep dive into deals, data, and due diligence.
ABOUT US
For investors and entrepreneurs looking to capture the enormous opportunity in healthcare today, look no further than the most expensive-and profitable-real estate in every hospital
Join Intersection Capital for this Live Event
The United States spends nearly twice as much on healthcare than any other advanced nation in the world but delivers worse patient outcomes.
Of the massive $4.3T spent in 2021 – nearly 18% of GDP and an average of $12,914 per capita – it’s estimated that surgical care alone represents nearly 30% of overall healthcare costs.
However, these estimates reflect only the care delivered during the initial hospitalization, and they fail to capture payments for expensive and common services that occur after discharge like those related to readmissions and post-acute care.
Moreover, these estimates completely miss outpatient surgical episodes, encounters for which have risen rapidly over the last 20 years [4 5].
With the average American undergoing nine procedures during their lifetime [6], an accurate accounting of the costs of surgical care is needed.
There are many peer-reviewed journal articles regarding cost-savings in surgery, but there is little consensus on the amount of savings and the variables that come into play. Nowhere is this more clear than the OR. Multiple per minute estimates exist from <$10/minute to >$100/minute.
That’s why there has never been more opportunity in this tiny 600 sqft surgical theatre to increase efficiency, lower costs, and deliver better patient outcomes.
Minimally invasive surgery, image-guided procedures, robotic surgery, and tele-surgery continue to replace traditional surgical procedures.
With $9B shifting from traditional OR operations to new tech-enabled operations, the potential to miss out on winners has never been higher.
Present-day operating rooms (ORs) are inefficient and overcrowded, and the turnover between cases is often lengthy and variable.
New technologies and devices are often introduced haphazardly into an already technologically complex environment.
“ORs are often so cramped with no space to walk in and people climbing over carts and bending over equipment, which makes for an extremely unsafe environment,” says Anjali Joseph, director of the Center for Health Facilities Design and Testing at Clemson University.
Even worse, U.S. health care system spends $1.4 trillion annually — one-third of health care costs — on defects, such as surgical errors (e.g., wrong-side surgery), poor outcomes (e.g., sepsis), or ineffective care (e.g., tumor recurrence) undermine value.
For virtually every procedure studied, 30% are unnecessary if clinicians use rigorous appropriateness criteria.
Surgeons have also eagerly adopted new technology, which may add to treatment costs without meaningful improvements in outcomes, even if surgical treatment itself is indicated. Examples of such “no-value” care can be found in much of the literature on robotic surgery.
In fact, many surgical procedures are performed at expensive inpatient facilities when they could be performed at an ambulatory center for 50% less.
Opportunity Costs of Defects in Value
When health systems spend above the cost-effectiveness threshold in a low- or no-value care situation, each dollar spent is a dollar lost that might provide clinical benefits to other patients.
When we spend below the threshold in the high-value care zone, we deliver clinically beneficial care to patients most of the time.
Moreover, we free up resources that allow health systems to deliver the best available care to the patient in the operating room and the next patient in the waiting room.
That’s why for the entrepreneurs and investors who can develop new ways to save thousands of dollars per surgery comes an opportunity to unlock billions of dollars in healthcare savings (and potential market cap).
With so many new technologies and techniques working their way into OR, one question is at the forefront – who pays?
Who will pay for these innovations?
Healthcare is an expensive business. Between reimbursement rates, liability insurance, administration, and medical infrastructure, healthcare centers need a large amount of capital to stay in business (much less turn a profit).
Under the current fee-based care system, it can create incentives for healthcare providers, pharmaceutical companies, and medical device companies to prioritize profits instead of patients.
However, this system is not sustainable. That’s why there has been growing pressure to change how payors and providers are reimbursed for providing healthcare solutions.
Today, we all believe that new technologies are the ‘magic bullet’ needed to reduce the financial pressure on healthcare systems while, at the same time, enhancing patient outcomes.
But implementing new medical devices in healthcare systems is not easy – it requires time, money, clinical data, regulatory approval, and crucially, support from clinicians within the system.
Far too many early-stage healthcare technology companies assume that insurance will save their cash-incinerating business model when a CPT code is finally “approved.”
But without support from clinicians – and those working in the system – it’s almost impossible to gain mass adoption of new technologies that could make a meaningful impact.
It’s not enough to simply build cool technology. We must find a way to reward innovation and risk-taking in healthcare that encourages the adoption of practical – and cost-saving – ideas.
But what if there was a way to build a true innovation ecosystem of forward-thinking physicians, payors, providers… and investors who wish to participate?
That’s why West Coast Finance is committed to identifying the next generation of healthcare entrepreneurs who are building breakthrough technology that not only prioritizes better patient outcomes at lower costs…
But provides our nation’s dwindling supply of healthcare providers with the tools, training, and support they need to keep physicians in charge of healthcare… not rapacious private equity firms!
On July 19, 2023, we’re looking to do just that with the launch of our first ever summit – The Operating Room of the Future.
The purpose is simple: bring the best minds in healthcare together to discuss what really “moves the needle” for operating room costs.
Not only will you get the opportunity to see live demonstrations of some exciting new medical technology…
For investors interested in participating in these trends, you’ll learn how we at West Coast Finance think about the unique opportunities, risks, and financing needs of early-stage healthcare technology companies.
CONFERENCE
SPEAKERS
DAVE FERRERA
RC MEDICAL
JAKE HOFFBERG
EQUIFUND
JASON HOWE
CEO MAGVATION
OREN KLAFF
INTERSECTION CAPITAL
DR. NIREN ANGLE
ENDOVASULAR SURGEON
GEOFF GROSS
SELLSIDE ANALYTICS
EVENT ITINERARY
8:30 AM: Check in and Coffee
9:00 AM: The Big Idea in 3minutes: How to Invest in the NextGen Operating Room by Oren Klaff
Investing in healthcare is hard. In fact, its way harder than other investing for one simple reason – there are so many risk factors that have to right for things to work. And you probably don’t know how to do real technical due diligence, don’t know what’s happening with regulatory issues and hospital administration.
10:00 AM: Real World Surgery Demo
Watch real surgeons execute a high-stakes surgery in front of you and see exactly where the new technologies are needed and know exactly what really needs investment capital, and what just sounds good but will never work in the real world.
12 Noon: Lunch and networking
2:00 PM: Panel conversation. How to underwrite med-tech technologies using the Hoffberg-Klaff model
3:OOPM: Company presentations: Two companies will provide a deep dive in ‘how to actually bill, invoice, charge and make money in surgical environment without ever talking to a hospital administrator. “
5:00PM: Mixer and break out rooms for access to presenting CE
9:00 AM: Coffee and Capital: Investment conversations with speakers and attendees
10:00 AM: Panel discussion: How to accurately stress test the revenue model of Medtech financial plans
11:00 AM: Jason Howe: Financial modeling for sale ramp in Medtech
12 Noon: Lunch and Breakout Rooms
2:00 PM: Conclusion
Today, we’re at a crossroads in the American healthcare system. As private equity firms continue to buy up all manners of healthcare centers, slowly but surely, physicians are losing control.
And as we continue to roll through the demographic time bomb, more people are living longer – and living sicker – than ever.
If private equity continues to take control of our nation’s healthcare, chances are, things are only going to get worse for patients and the physicians who seek to serve them.
Want to be part of the solution?
Apply below to RSVP for our upcoming event
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