Monitoring Industry Activity from Quarter 1 of 2023

In addition to continuing focus on inflation, value-based care, and labor shortages, recent earnings calls included discussions surrounding many topics including hospital utilization, Medicaid redeterminations, and anesthesia coverage. While the operating environment appears to be improving for many healthcare providers, there are important questions surrounding the sustainability of many of these trends, including hospital utilization, going forward. This article presents Q1 2023 stock price and valuation data for the public companies in several of the sectors that we track closely, as well as analysis of key discussion points that are the current focus of operators and investors in the healthcare industry.

The Q1 2023 edition of HealthCare Appraisers’ FMVantage Point™ Quarterly Insights has been edited by Daniel I. Levin, CFA, ASA, with expert commentary from Nicholas J. Janiga, ASA.

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Monitoring Industry Activity from Quarter 4 of 2022

Fourth quarter earnings calls continued on many of the themes from 2022 including inflation and staffing difficulties across sectors. Although Q4 seemed to show some improvement relative to earlier in the year from a staffing standpoint, difficulties in managing staff expense and retention remain significant headwinds for many operators across a variety of sectors. Medicaid redeterminations are expected to have a material impact on payors and providers in 2023, and this impact was discussed on many conference calls. Other topics of discussion included value-based care across a variety of settings, and trends in M&A. This article presents Q4 2022 stock price and valuation data for the public companies in several of the sectors that we track closely, as well as analysis of key discussion points that are the current focus of operators and investors in the healthcare industry.

The Q4 2022 edition of HealthCare Appraisers’ FMVantage Point™ Quarterly Insights has been edited by Daniel I. Levin, CFA, ASA, with expert commentary from Nicholas J. Janiga, ASA.

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Monitoring Industry Activity from Quarter 1 of 2020

As part of our ongoing research into the healthcare industry, HealthCare Appraisers, Inc. follows commentary of publicly-traded health systems, physician services providers, ambulatory surgical center management companies, and other healthcare service providers. The publication includes important valuation-related takeaways from recent earnings calls and conference presentations, as well as supporting quotes from publicly-traded operators.

Some of the topics discussed in the Q1 2020 issue include:

• Home Health Consolidation Possibly Delayed Until 2021
• Mednax Sold Its Anesthesia Business
• At-Risk Providers Performed Well
• Immediate and Longer-Term COVID-19 Impacts

The Q1 2020 edition of HealthCare Appraisers’ FMVantage Quarterly Insights has been edited by Daniel I. Levin, CFA, ASA, with expert commentary from Nicholas J. Janiga, ASA.

Monitoring Industry Activity from Quarter 4 of 2019

As part of our ongoing research into the healthcare industry, HealthCare Appraisers, Inc. follows commentary of publicly-traded health systems, physician services providers, ambulatory surgical center management companies, and other healthcare service providers. The following paragraphs are important valuation-related takeaways from recent earnings calls and conference presentations, as well as supporting quotes from publicly-traded operators.

Some of the topics discussed in the Q4 2019 issue include:

• Humana’s Provider Strategy Develops Further
• UnitedHealthcare Plans to Terminate Certain Mednax Contracts
• Early Signs of Disruption from PDGM
• Medicare Advantage Continues Robust Growth
• Surgery Partners Expects Pace to Accelerate

The Q4 2019 edition of HealthCare Appraisers’ FMVantage Quarterly Insights has been edited by Daniel I. Levin, CFA, ASA, with expert commentary from Nicholas J. Janiga, ASA.

Monitoring Industry Activity from Quarter 3 of 2019

As part of our ongoing research into the healthcare industry, HealthCare Appraisers, Inc. follows commentary of publicly-traded health systems, physician services providers, ambulatory surgical center management companies, and other healthcare service providers. The following paragraphs are important valuation-related takeaways from recent earnings calls and conference presentations, as well as supporting quotes from publicly-traded operators.

Some of the topics discussed in the Q3 2019 issue include:

• Increase in Denials from Payors
• Many Perspectives on the Shift to Value-Based Care
• Large Home Health Providers See an Opportunity
• Opportunities in Orthopedics and Cardiovascular

The Q3 2019 edition of HealthCare Appraisers’ FMVantage Quarterly Insights has been edited by Daniel I. Levin, CFA, ASA, with expert commentary from Nicholas J. Janiga, ASA.