In this session, Brian Hall, a partner in McDermott’s Healthcare practice group, moderated a panel to discuss the opportunities for growth and investment in the women’s health and fertility space.

Session panelists included:

• Andrew Colbert, Senior Managing Director, Ziegler

• Eleanor Harte, Chief Operating Officer, Colorado Center for Reproductive Medicine

• Erica Pham, General Counsel, Maven Clinic

• Cara Reymann, Chief Executive Officer, Fertilitas

• Maxine Winston, Interim Chief Development Officer, Axia Women’s Health

Top takeaways included:

1. The women’s health market continues to be very fragmented, with most obstetrics and gynecology (OB/GYN) and fertility providers practicing as members of small groups. The vast majority of OB/GYN practices are comprised of one to three physicians, while there are approximately 500 fertility clinics in total in the United States.

2. There is a strong value-based care (VBC) opportunity in the women’s health space, with payors looking to partner more with OB/GYNs on bundled payment models.

3. Investors view women’s health and OB/GYN clinics as an offshoot of primary care, which offers numerous opportunities to leverage OB/GYN services as the epicenter for primary care for women.

4. Since the US Supreme Court’s decision in Dobbs, overturning Roe v. Wade, the famous phrase “healthcare is local” is being questioned. More employers are now incorporating the ability to travel for care into their insurance coverage offered to employees. It is the first time that companies must rethink how and where they are offering care.

5. The women’s health space is expected to face a decrease in the number of providers coming out of fellowships, yet patient demand is anticipated to grow exponentially. According to the US Health Resources & Services Administration (HRSA), the demand for OB/GYNs is expected to increase by 4% by 2030. However, the number of OB/GYNs is expected to decrease by 7%. Fertility is facing a similar trend, making it important for operators to have a sound recruitment and growth strategy to meet patient demand.

6. Three strategies for addressing the labor issues in the women’s health space are: (1) leveraging the use of advanced practitioners, such as nurse practitioners and physicians assistants, so that physicians can extend themselves and see more patients, (2) being at the forefront of recruiting by developing relationships with residency programs, and (3) doing everything possible to support the physicians by creating the right culture, incentives for physicians to stay longer with the practice, and new growth opportunities.