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Despite some speculation, we do not expect CMS to increase hospital payments for LNTH’s Pylarify from CY25’s mean unit cost (MUC) [$3.1K] to an average sales price (ASP) methodology [$5.8K] (+85%) in the draft CY26…

Below are our takeaways from our recent conference call on the controversial Section 899 of the reconciliation bill as well as thoughts on related developments and what that might mean for the provision in question….

Today’s hearing on the FY26 NIH budget before a Senate Appropriations Subcommittee bolsters our view [see note] that lawmakers are highly unlikely to endorse the White House request for an $18B (40%) cut, with flat…

The big news we expect out of Washington this week, with Congress in session, includes:   A release by the Senate Finance Committee of its tax, Medicaid, and perhaps Medicare mark for the reconciliation bill….

A new complication has arisen for hospitals [HCA, THC, CYH, ARDT, UHS, non-profit / municipally-backed facilities] – and to a lesser extent nursing homes, behavioral providers, and certain physicians – in the debate over payment…

Yesterday’s news reports that Senate Republicans are considering and discussing Medicare savings policies to add to the reconciliation bill for lowering the overall deficit and/or filling any potential hole from softening some of the House’s…

Put us in the camp that the Trump-Musk dust up will have little impact on passage of the reconciliation bill. By last night, there appeared to be an attempt to lower the temperature on both…

We suspect the timeline for Medicare coverage expansion will be longer than investors anticipate for EW’s asymptomatic transcatheter aortic valve replacement (TAVR) indication. While we see eventual reductions in procedure volume requirements – expanding eligibility…

In light of the successful—at least so far— Circle Internet Group (CRCL) IPO today, we wanted to offer an update on stablecoin legislation (S. 394, the GENIUS Act), which benefits CRCL and which we believe…

As we await the Senate’s likely release of its reconciliation measure over the next week or so, we continue to expect the upper chamber to smooth the edges around some of the House-passed reconciliation bill’s…