Innovation and Equity Discussed at 24th New York Health Forum

The 24th conference of the New York Health Forum unfolded on March 28, 2024 with an air of anticipation, drawing together a diverse array of healthcare stakeholders, thought leaders, and experts under one roof at the Korea Society, New York City. Organized by W Medical Strategy Group, the event served as a catalyst for robust discussions, knowledge sharing, and advocacy in the realms of healthcare innovation and equity.

The proceedings commenced with an auspicious opening session helmed by DoHyun Cho, who welcomed attendees with warmth and enthusiasm. Chul S. Hyun, Chairman of New York Health Forum, and Soonmahn Park, U.S. representative of Korean government agency named Korea Health Industry Development Insititute, lent their esteemed presence, setting the tone for the day’s deliberations. The highlight of the session undoubtedly came in the form of Jamie Metzl’s keynote address. As a renowned technology and healthcare futurist, Metzl’s insights into the “Technological Revolution and the Future of Healthcare” left the audience inspired. Drawing from his rich experience and expertise, Metzl painted a vivid picture of the transformative potential of emerging technologies in shaping the healthcare landscape of tomorrow. Expounding upon the convergence of artificial intelligence, genomics, and digital health, Metzl underscored the need for proactive adaptation to harness the full potential of these innovations. Jamie envisioned a future where technology would not only augment clinical care but also democratize access to healthcare on a global scale.

The first substantive session of the day, moderated by Sabina Lee, a senior consultant at W Medical Strategy Group dealt with the intricacies of the life sciences and healthcare sector. Esteemed panelists including Jay Olson of investment bank Oppenheimer and Co., Mary Howard from a New York City based business accelerator ELabNYC, Mark Paxton, a regulatory legal counsel from Brown Rudnick, LLP, and Jung Kug Lee from KHIDI USA took center stage, sharing their wealth of knowledge and experience with the eager audience. From investment trends to technological innovations and entrepreneurial endeavors, the panelists talked about key items in dissecting the myriad facets of the healthcare industry. Their insights underscored the pivotal role of innovation and collaboration in driving progress and addressing the evolving challenges confronting the sector.

Olson, drawing from his extensive experience in equity research and finance, highlighted the importance of strategic investments in driving innovation and growth within the biotech and pharmaceutical sectors. Howard, a seasoned entrepreneur and advocate for biosciences commercialization, emphasized the role of incubators and accelerators in nurturing early-stage ventures and fostering a culture of entrepreneurship. Paxton, with his expertise in FDA regulatory matters, shed light on the complexities of navigating regulatory frameworks and compliance requirements in an increasingly globalized pharmaceutical landscape. Meanwhile, Lee, representing KHIDI USA, offered insights into the burgeoning opportunities for cross-border collaboration and market entry between the US and South Korea.

With a renewed focus on health equity in the wake of the COVID-19 pandemic, the second session of the forum took on added significance. Kyoung Ryul Lee, Chairman of SCL Group, was honored with the inaugural Health Equity Award for his tireless efforts in advancing equal access to healthcare. Although unable to attend in person, Dr. Lee’s impactful work was acknowledged and celebrated through a poignant video acceptance speech. Subsequent presentations by Levi Waldron, a professor at CUNY graduate school of public health, and Chul S. Hyun, founder of Center for Viral Hepatitis, further enriched the dialogue, shedding light on the roles of data science and ethnic disparities in healthcare, respectively. Their incisive analyses and impassioned advocacy served well to address inequities and ensure equitable healthcare for all. Waldron, an esteemed epidemiologist and biostatistician, elucidated the transformative potential of data science in identifying and addressing health disparities. Drawing from his research and academic endeavors, Waldron highlighted the need for robust data infrastructure and interdisciplinary collaboration to harness the power of big data in driving evidence-based interventions and policy reforms. Hyun, a distinguished physician and author, offered a poignant reflection on the enduring challenges of ethnic disparities in healthcare. From linguistic and cultural barriers to systemic inequities in access and quality of care, Hyun underscored the imperative of culturally competent healthcare delivery and community engagement in bridging the gap.

Before closing the 24th New York Health Forum, attendees were treated with a comprehensive overview of the remarkable journey undertaken by W Medical Strategy Group, the hosting organization of this forum over the past ten years. Founded with a vision to pioneer excellence and foster collaboration between Korea and the US in the healthcare sector, the organization has left an indelible mark on the industry landscape. From its inception in 2014, W Medical Strategy Group has navigated cross-border collaboration with unparalleled expertise. With a mission to be the “First Mover & Best Connector to Improve Human Health,” the organization has spearheaded hundreds of projects, generated billions of transactional values and engaging with thousands of key opinion leaders. Through its diverse portfolio of initiatives, including the World Asian Medical Journal and the New York Health Forum, W Medical Strategy Group has emerged as a catalyst for innovation and dialogue, facilitating meaningful exchanges among healthcare professionals worldwide. As it embarks on its next chapter, marked by multiple innovative initiatives, W Medical Strategy Group remains steadfast in its commitment to advancing health and wellness for all.

In sum, the 24th New York Health Forum galvanized stakeholders of a wide healthcare spectrum to chart a course towards a more equitable, innovative, and sustainable future. As the echoes of the forum reverberate far and wide, one thing remains abundantly clear: the journey towards transformative change in healthcare has only just begun.

April 12, 2024

Dohyun Cho, PhD

CEO, W Medical Strategy Group

President, New York Health Forum

DoHyun Cho is the founder, president, and CEO of a U.S. consulting company W Medical Strategy Group. W Medical Strategy Group has subsidiaries including World Asian Medical Journal, New York Health Forum, W MediTech, and Green Alley. He also serves as the board member for several companies. Prior to his current position, he served as the Head of Korea Health Industry Development Institute (KHIDI) USA in New York for six years, a specialized agency of the Ministry of Health of South Korea. He also served as a Board of Director for Korean American Chamber of Commerce and serving as the Advisory Member for the Asia-Pacific Economic Cooperation (APEC) Harmonization Center, Korean government delegate for APEC Life Science Working Group, Healthcare division representative for Korea-U.S. Business Council, etc.