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CMS’s draft CY26 Physician Fee Schedule (PFS) released this evening would reduce payments for PRCT’s Aquablation by -28% in 2026, going from a volume-weighted average of $765 across the seven Medicare Administrative Contractors (MACs) to…

The main focus in Washington this week will likely be on trade, as negotiations between the U.S. and various trading partners continues.  Speculation surrounding whether President Trump might yet fire Fed Chair Jerome Powell could…

We view CMS’s coverage proposal for renal denervation (RDN) [Medtronic (MDT), Otsuka (4578.JT)] as an incremental positive relative to our expectations, but likely to be largely in line in terms of its effects. With patients…

With the U.S.’s Eighth Circuit Court of Appeals vacating the Federal Trade Commission’s (FTC) “click-to-cancel” rule yesterday, we have two main takeaways:  While companies who make it difficult to cancel subscriptions dodged a bullet yesterday,…

We believe legislation to take the 90% gambling loss deduction back to 100% is ultimately likely to become law, but finding a legislative vehicle this year may not be easy. Should enactment leak into next…

While we still agree with consensus about the negative bias towards hospitals and Medicaid insurers from the One Big Beautiful Bill Act (OBBA) signed into law last Friday, we note a few tweaks in the…

Despite some bipartisan optimism in the Senate that the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which would provide protections for financial institutions that provide services to the cannabis industry, will be considered this…

In what we view as a harbinger of a competitive headwind for LNTH’s Pylarify, CMS this morning provided a unique billing code for TLX.AU’s Gozellix (A9616) to differentiate it from its predecessor drug Illuccix (A9596)….

We provide our takeaways from a trade and tariff conference call we hosted last week considering tomorrow’s expiration of President Trump’s 90-day pause on reciprocal tariffs, though the effective rates have been pushed to August…

Below is a table of the material tax provisions of the final reconciliation bill that was signed into law by President Trump on July 4. While Speaker Mike Johnson (R-LA) has stated his desire to…