Category Archive for "Healthcare"

Drug and biotech stocks tend to outperform their peers in the months before and after scheduled approvals of major new products. Relative performance gains are spread somewhat evenly across time; risks are somewhat concentrated in the days just before and

Pre-phase III pipelines in some cases represent more than a quarter of a company’s enterprise value (EV). Companies’ disclosures of pre-phase III details are extremely limited, thus the market cannot reliably value a substantial percentage of EV using traditional information

The Affordable Care Act (ACA) subsidizes eligible households’ purchase of health insurance; in the first year of operation subsidies are geared to keep households’ premium costs below certain percentages of income Subsidies are subject to two layers of indexing: ‘regular’

We expect 3.8% y/y health services demand growth during 3Q12, the product of 1.8% growth in unit demand and 2.0% growth in pricing. Total demand growth is 20 bps lower than our previous 3Q12 estimate – both the unit demand

Per-capita intensity (unit demand) rises and falls with the employment cycle; on an age- and health status-matched basis, privately insured households consume 2.7x the care of uninsured households. As a rough benchmark, a 1 percent change in adjusted (for labor

We expect Affordable Care Act (ACA) health insurance and pricing effects to reduce real demand growth by roughly 30bp over the period from 2012 – 2021 Medicaid should expand to 100 FPL in most states; this translates to enrollment gains

We expect 3.9% y/y health services demand growth during 3Q/12, the product of 1.9% growth in unit demand and 2.0% growth in pricing. This marks a 10bp increase over our initial 3Q12 estimate, the net of a 20bp lower unit

This note quantifies a ‘baseline’ rate of real growth in US healthcare demand, which we define as the rate of growth one would expect sans any upcoming secular, cyclical, or reform effects We estimate baseline growth of 4.8% +/- 0.9%