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With today’s rejection of INSP’s coding application for the Inspire V device by the AMA, the company’s last opportunity to have a new code take effect by Jan. 1, 2028 will be to secure approval…

Key Takeaways We expect Congress to pass a short-term extension of the highway bill, potentially before the Sept. 30, 2026, deadline, likely at current funding levels plus an inflation adjustment. Multiple short-term extensions could follow…

Below are the key takeaways from our conference call on this week’s Trump/Xi summit in Beijing. During the call, we touched on trade in general as well as the USMCA agreement. Our base case remains…

CMS’s announcement of a six-month moratorium on new hospice and home health agency enrollment in Medicare is the latest escalation in the administration’s broader crackdown on alleged waste fraud, and abuse, reinforcing its ongoing targeting…

Below we provide an update on AB 1709, legislation in California that would ban kids under 16 years old from creating accounts on social media platforms (META, GOOGL, SNAP, TikTok) with addictive features. We continue…

UNH’s new Optum Rx model, which shifts PBM and group purchasing organization compensation in its commercial business toward transparent flat fees, appears designed to modestly outpace similar transparency initiatives from CI and CVS while aligning…

With both the House and Senate back for the next two-week stretch before the Memorial Day recess, there is a lot happening in Washington that matters for investors, including: President Trump and President Xi’s two-day…

We suspect iRhythm (IRTC) faces both relief and little more than a modest growth headwind following a finalized local coverage determination (LCD) from its primary Medicare Administrative Contractor (MAC) this morning. In keeping with expectations…

Medicare Administrative Contractor (WPS) WPS – with jurisdiction over ~13% of INSP implants – this morning updated its hypoglossal nerve LCD billing article to instruct physicians to bill for Inspire V services with a -52…

With 1Q26 earnings now largely complete for the major Medicare Advantage (MA) insurers [UNH, HUM, ALHC, CVS, ELV, CNC, MOH], near-term MA policy risks remain less acute, though far from extinguished. Congressional cuts remain unlikely…