Author Archive

HHS OIG* on August 30 published a survey of the benchmarks states use to determine ingredient-cost reimbursement for Medicaid prescriptions. Of the 43 states identifying their benchmarks, 30 are using the newer Average Acquisition Cost (AAC) reference; only 11 are

We believe pre-phase III (i.e. ‘hidden’) pipelines are misvalued for a very simple reason: they’re hidden. However because companies’ patenting behaviors around early projects are relatively consistent and complete, careful analysis of patent data gives us an opportunity to see

In 8 of the 10 states for which we have useful data, today’s (2013) premiums for individual coverage are (after being inflated by 6 pct to account for 2013 – ’14 health cost growth) very much on par with 2014

[print_me] We expect 3.9% (nominal) y/y growth in US health services demand during 3Q13, the product of 2.4% growth in unit demand, and 1.5% price growth. Unit demand growth moved to 2.1% during 2Q13 – a sequential improvement of 60

Enrollment in Medicaid HMOs will grow immediately in 2014 as some states expand Medicaid eligibility under the Affordable Care Act (ACA). Growth continues for some time thereafter as: 1) other states join the expansion; 2) an increasing percentage of Medicaid

Health insurance exchange (HIE) participation across the publicly-traded HMOs varies greatly – the only consistent pattern being that the publicly-traded names’ are selectively focused on states with less concentrated supply-sides (i.e. states lacking dominant underwriters) AET most of all, and

Gross of subsidies, and controlling for medical cost inflation, 2014 individual premiums for the cheapest plan option in the California market are substantially (average 63%) higher than for the cheapest option in the current market. We believe much of the

 We expect 3.1% (nominal) y/y growth in US health services demand during 2Q13, the product of 1.6% growth in unit demand, and 1.4% price growth. Unit demand growth remains very slow; the projected 1.6% rate is essentially equal tothe inherent

At most, the employer mandate would produce a roughly 40 bp gain in total national health spending. In reality the effect is likely to be even smaller. Less well compensated employees at smaller firms may continue to refuse coverage, and/or

We intend the Quarterly as a periodic publication that: Brings together in one place our most current work on the major themes affecting US-listed healthcare names, Synthesizes our best thinking into a model portfolio consisting of specific weightings for healthcare