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We do not believe that the Trump administration will be successful in their attempts to freeze / cut federal funding that Congress authorized. However, we do see this attempt by the Trump administration as increasing…

We lean against yesterday’s OMB directive for temporarily pausing federal funding for grants, loans and programs applying largely to Medicaid’s payments to the states for Medicaid insurers (CNC, MOH, ELV, UNH, CVS) or for reimbursements…

We could see progress on a few fronts this week as Congress works on:   The massive reconciliation / tax bill legislation at a retreat starting today in Florida.  Top- line spending levels for defense and…

We have the following comments about President Trump’s recent trade pronouncements, which are generally consistent with our views before he became president. We are skeptical that the 25% tariffs on Mexico and Canada, in response…

While investors in insurers and providers seem most concerned about the fate of the expiring enhanced ACA subsidies, which we still expect to be revised but ultimately extended later this year, other – albeit smaller…

Following GH’s announcement this AM of Medicare coverage of its tissue-naïve Reveal test for minimal residual disease (MRD) surveillance testing, we wanted to highlight some additional salient points omitted from the company’s press release. The…

We expect some potential market moving action this week in relation to:  1) President-elect Trump’s inauguration, 2) his potential executive orders (EOs) and 3) his public comments. Trump has promised 100 EOs in the first…

Our analysis of the drugs included in the CY27 cycle of price negotiations under the Inflation Reduction Act (IRA) announced this morning implies a 3%-4% headwind for NVO relative to consensus CY27 revenues, with a…

We doubt Medicare Payment Advisory Commission’s (MedPAC) FY/CY26 Medicare payment recommendations for home health agencies, inpatient rehab facilities, skilled nursing facilities, hospices, dialysis centers, hospitals, and physician offices, which were voted on Thursday in nearly…

Our long-held belief has been that defense spending for FY25 would clock in at ~$920 billion; however, that figure seems too low in our view, given the recent news flow.  We now believe defense spending…