July 10, 2026
We are watching two trade policy issues over the next several months: Whether the administration will replace the temporary 10% Section 122 tariffs that expire on July 24 with new Section 301 tariffs. We think…
July 9, 2026
We believe the online sports betting debate is moving in two directions. In already-legal states, the risk is higher tax rates on online sports betting operators (DKNG, FLUT, MGM, CZR) as states look for revenue…
July 7, 2026
We continue to believe that divided government is the most likely scenario after the midterm elections as we view Democrats as having an over 80% probability of retaking the House, while Republicans have roughly a…
July 2, 2026
For-profit hospitals [THC, HCA, CYH, ARDT, UHS] received some expected positive news – though the magnitude surprised us – in the CMS’s proposed CY27 hospital outpatient prospective payment system (OPPS) rule. Ambulatory surgery centers (ASCs)…
July 2, 2026
Home health (HH) agencies [PNTG, BTSG, AVAH, UNH, ADUS, Elara] received a favorable surprise in CMS’s proposed CY27 Medicare HH reimbursement rule, released Wednesday. The regulation includes: A temporary 3% recoupment adjustment, matching the final…
July 1, 2026
The House Rules Committee did not make the MATCH Act, the Chip Security Act, or the AI Overwatch Act in order as amendments to the fiscal year 2027 National Defense Authorization Act (NDAA). This move…
July 1, 2026
We have raised our odds to 70% that California’s AB 1709, which would restrict social media companies, including META, GOOGL, SNAP, and PINS, from providing addictive features to users under 16, will become law. AB…
June 30, 2026
We present our quarterly outlook on the key catalysts for health insurers and providers. Entering 3Q, the negative policy bias that dominated 1H26 has eased as payers appear to have priced plans appropriately and medical…
June 29, 2026
Despite only the House is in session (the Senate is out) this week and a likely short week with the July 4 recess coming up, there is a lot going on. Iran is once again…
June 25, 2026
Senate HELP Chairman Bill Cassidy’s (R-LA) recently introduced 340B Drug Pricing Integrity and Affordability for Patients Act raises threats to 340B contract pharmacies (both brick-and-mortar and mail-order) [CVS and private Walgreens, and to a much…
June 25, 2026
CMS’s CY27 proposed Medicare end-stage renal disease (ESRD) payment rule is likely to leave dialysis providers [DVA, FRE.DE, private Innovative Renal] somewhat disappointed. The agency declined to extend the transitional drug add-on payment adjustment (TDAPA)…
June 23, 2026
We believe the FCC is very near to formally eliminating the 39% national television ownership cap, with the final rule now at the Office of Information and Regulatory Affairs (OIRA) within the OMB. The agency…
June 23, 2026
With only a handful of state legislatures still in session and most adjourned for the year, our review of state efforts to expand oversight of or impose restrictions on material changes in hospitals and healthcare…
June 22, 2026
The House and Senate are both in session this week, as the pre-August calendar is becoming the biggest obstacle for several Republican priorities that need to be worked out. We continue to believe the Digital…
June 18, 2026
CMS informed Medicare Advantage (MA) insurers [HUM, UNH, CVS, ELV, CNC, ALHC, MOH, CLOV] that it is voluntarily recalculating their CY26 Star Ratings, which determine CY27 Quality Bonus Payments (QBP). Under the agency’s approach, released…