American Well (AMWL) TD Cowen 45th Annual Healthcare Conference summary

Industry trends and opportunities

• Digital health adoption is accelerating, with more consumers seeking care online, enabling greater access and efficiency through technology and AI-driven clinical programs.

• Efficient engagement, care orchestration, and unified data infrastructure are key to personalizing experiences and demonstrating ROI to payers and sponsors.

• Health systems and payers increasingly value platforms that consolidate consumer engagement and clinical programs, reducing acquisition costs and improving scalability.

• The shift toward hybrid and technology-enabled care is seen as a major industry revolution, with reimbursement, security, and regulatory issues as ongoing challenges.

• Consumer openness to virtual care is growing, especially for urgent care, with expansion into chronic and primary care expected as engagement improves.

Strategic partnerships and government contracts

• A major SaaS deployment with the Defense Health Agency (DHA) is nearly complete, involving global rollout and integration with Oracle Cerner EHR, serving 9.6 million users.

• The DHA contract is the largest to date, surpassing previous deals and expected to significantly impact revenue outlook for 2025.

• Successful execution with DHA is generating new opportunities in the government and public sector, with a growing pipeline of sizable prospects.

• Renewal of the DHA contract is anticipated this summer, with high confidence due to mission-critical status and strong customer satisfaction.

• The project was delivered on time and on budget, enhancing credibility for future government engagements.

Platform evolution and client experience

• The platform enables a unified patient experience, supporting diverse clinical programs and seamless integration for both payers and providers.

• Recent leadership hires, such as a new AI-focused executive from Amazon, aim to accelerate innovation in analytics and consumer experience.

• The platform’s flexibility allows third-party integration, supporting a broad ecosystem of digital health solutions.

• Long-term vision includes deeper integration between payers and providers, leveraging a single code base to address both markets.

• Health systems are increasingly interested in technology-enabled care for efficiency, specialist access, and reducing readmissions.