Opening Remarks | Future of Health Summit 2024

Milken Institute Future of Health Summit 2024 Overview

• Core Mission: The Milken Institute convenes leaders across philanthropic, scientific, business, and government sectors to foster equitable access to meaningful life opportunities based on ability rather than demographics.
• Strategic Approach: The Institute addresses the reality that global problems often require local solutions while unaddressed local issues carry global consequences, specifically aiming to level the playing field through innovative action.
• Healthcare Efficiency Gap: Historical clinical trials lack diverse patient inclusion, and the average time and cost to move a new therapy from laboratory to patient is 12 years and $1.4 billion.
• Event Theme: The summit's theme is "Partnering for Better Health," reflecting the consensus that no single sector can independently tackle critical health challenges.

Demographic and Epidemiological Trends

• Aging Population: The global population aged 60 and older reached 1 billion in 2019 and is projected to double to 2.1 billion by 2050.
• Chronic Disease Projections: The WHO estimates annual cancer cases will rise 66% by 2050, reaching 33 million, up from 20 million in 2022.
• Climate Health Impact: The population residing in areas suitable for Zika virus transmission is projected to grow by over 1.3 billion people by 2050.
• US Healthcare Paradox: The United States spends the most on healthcare among peer economies yet delivers poor health outcomes relative to that investment.

Consumer Attitudes and Behavioral Shifts (Harris Poll Data)

• Mental Health Prioritization: 77% of Americans view investing in mental health and wellness as nearly as important as economic prosperity.
• Parental Stress: A 20-point gap exists between parental stress levels and general American stress, prompting a Surgeon General warning on parenting risks.
• Gen Z Sentiment: 50% of Gen Z wish social media had never been invented, and 55% began using it before age 15; 51% of this cohort dreams about climate change.
• Longevity Optimism: 73% of Boomers believe "70 is the new 50," reflecting a trend the Harris Poll terms "boomtastic."
• GLP-1 Adoption: 56% of millennials have tried or are willing to try GLP-1 drugs, driven by their potential for personal reinvention and weight management.
• Dietary Shifts: 45% of individuals on GLP-1s report consuming fewer processed foods and experiencing reduced alcohol cravings.

Systemic Challenges and Access Barriers

• Public Dissatisfaction: 70% of Americans feel the healthcare system is not meeting their needs, with only 10% assigning the system an "A" and a combined 40% giving it an "A" or "B."
• Provider Shortages: 51% of Americans directly perceive the effects of healthcare worker shortages, described as a "supply chain problem" at the doctor's office.
• Cost-Related Care Delay: 44% of Americans have skipped or delayed care in the past two years due to cost.
• Financial Vulnerability: 51% of Americans cannot pay off an unexpected healthcare cost out-of-pocket, with two-thirds expressing major concern about retirement healthcare costs.
• Racial Disparities: 55% of BIPOC Americans reported receiving poor quality care in the last year, an 11-point increase from 2022; more than half sought a second opinion after their concerns were dismissed.
• Diagnostic Delays: Women take 3.9 years on average to receive a chronic illness diagnosis compared to 2.4 years for men.

Trust, Technology, and Misinformation

• AI and PA Utilization: 92% of Americans believe Physician Assistants (PAs) should provide quality care to the full extent of their education, and 91% believe fully utilizing PAs improves patient health.
• Data Privacy Misconceptions: 81% of Americans incorrectly assume all health data collected by digital apps is protected under HIPAA.
• Health Literacy Gaps: 71% of Americans erroneously believe the US has the lowest infant mortality rates, and over half do not recognize heart disease as the leading cause of death.
• Medicare Confusion: Seven out of 10 Americans failed a quiz on Medicare understanding.
• Skepticism on Reform: 57% of Americans worry systemic healthcare changes will not occur for many years.

Call to Action and Future Outlook

• Partnership Imperative: 90% of Americans agree that fixing the healthcare system requires a collective effort involving patients, doctors, and experts.
• Prevention Shift: There is a consensus among both providers and patients to shift the system from treatment-focused to prevention-focused models.
• Policy Ambition: Over the next two days, the summit features more than 200 speakers across 50 sessions covering biomedical innovation, public health, food systems, and strategic philanthropy.
• AI Integration: The summit aims to explore how AI and machine learning can accelerate medicine development and transform patient care, provided the use is responsible and focused on outcomes for all.