Becton Dickinson at Stifel Conference Notes

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Becton Dickinson’s (BDX) Presents at the Stifel 2015 Healthcare Brokers Conference
Tom Polen – EVP & President BD Medical

Retention rate at CFN is higher than pre deal

“The retention rate in CareFusion is actually higher now than it was pre-deal, which is something that we take pride in and people really enjoy being part of the new company and where we’re heading and the opportunities that they see in front of us.”

Two big changes in medicine are electronic medical records and wider distribution of care

“the first is the whole shift to electronic medical records is a big factor actually in the strategy and the play and the other one is the shift of care across this new continuum or hospitals are buying surgery centers and buying physician offices and seeking the managed care not just within an acute care hospital environment, but across this continuum”

Value prop is integration of systems

“I’m about to run out of a drug and I order it through Pyxis so that the drug is available when that patient needs it. Those are things that we can do that are very unique. And we find customers responding to that very positively. They probably would not have responded in the same way had there not been this digitalization of healthcare.”

As IDNs delivery network is more complex they want to manage costs with better efficiency

“as particularly IDNs are buying these physician offices, they’re buying surgery centers, they’re buying long-term care facilities, one of the first things they want to do is manage the most expensive part of those facilities i.e. the drug consumption in those locations and administration. They want to manage that in the same way they’ve been managing the drugs in the central hospital.”

Hospitals want integration of infrastructure

“The CIO now, one meeting very recently was at, they literally had stopped purchase of a competitive product because they said, we want smart works is what we have, which is our Middleware. If a product can connect through SmartWorks, we just want that product. We do not want to have separate systems and databases and connectivities that we can set up and so they were actually freeing up that opportunity.”