Uncategorized

We continue to believe there is an 85% chance Democrats win control of the House and a 60% chance they also take the Senate in November. Given Democratic control of the House is very likely…

A proposal by Senator Ruben Gallego (D-AZ) this week likely gives investors an idea of what’s in store for the AI / data center complex if Democrats take control of Congress next month (our base…

While last night’s widely telegraphed Star Ratings delivered clear winners [HUM, CLOV, Devoted Health (pvt)] and losers [ALHC] (and a mixed bag for UNH, CVS, ELV, CNC, and MOH), potentially underappreciated methodological choices by CMS…

Despite lopsided stakeholder opposition, we continue to expect CMS to finalize largely as initially sought its CY27 proposal cutting Medicare reimbursement for 337 common non-contrast imaging procedures at grandfathered off-campus hospital outpatient departments (HOPDs) while…

It is no surprise that a Democratic takeover of even one House of Congress will lead to ambitious, aggressive and continuous investigations into the Trump administration, President Trump’s family and associates, and companies that have…

Following yesterday’s oral appellate arguments over HUM’s challenge to Medicare Advantage (MA) risk adjustment-related audit rules, we believe a majority of the three-judge panel is likely to side with the company and the lower court…

While CMS’s finalized GLOBE most favored nation (MFN) rule for Medicare Part B meaningfully narrows its reach / implications, we view its methodology for excluding manufacturers participating in the GENEROUS MFN Medicaid model as legally…

With CMS likely to release its final CY27 Medicare Hospital Outpatient Prospective Payment System (OPPS) rule in early November, we continue to expect a substantial cut to Medicare payment for 340B-acquired drugs administered in participating…

With data center moratoriums recently gaining steam across the country, we do not expect political opposition to data centers to fade after the midterms. Governors facing elections in 2027 and 2028 may face growing pressure…

This week is the Senate’s last scheduled week before the elections. Senators plan to pass the Protect College Sports Act on Monday, an odd legislative choice, in our view, when voters are focused on inflation…