|[January 22, 2014]
Wall Street Analysts Discuss Prospects for Nashville's Health Care Industry in 2014
NASHVILLE, Tenn. --(Business Wire)--
Today, nearly 500 health care executives gathered for the Nashville
Health Care Council's annual panel discussion featuring leading health
care research analysts. The Wall Street's View on Prospects for the
Health Care Industry program explored predictions for several of
Nashville's health care industry sectors over the next year.
Left to Right: Wayne T. Smith, chairman, president and CEO, Community Health Systems; Whit Mayo, senior analyst, Robert W. Baird; Kevin Fischbeck, health care facilities and managed care analyst, Bank of America Merrill Lynch Global Research; Ralph Giacobbe, director, health care research team, Credit Suisse; and Frank Morgan, managing director, RBC Capital Markets. (Photo: Donn Jones Photography)
The discussion was moderated by Wayne T. Smith, chairman,
president and CEO, Community Health Systems, and included panelists Kevin
Fischbeck, health care facilities and managed care analyst, Bank of
America Merrill Lynch Global Research; Ralph Giacobbe, director,
health care research team, Credit Suisse; Whit Mayo, senior
analyst, Robert W. Baird; and Frank Morgan, managing director,
RBC Capital Markets.
here to view video excerpts of today's industry predictions.
here to view event photos online.
Donn Jones Photography
These analysts offered perspectives on a variety of sectors including
hospitals and ambulatory services, managed care, behavioral health
services and long-term care. The analysts identified hospitals, senior
living, commercial managed care and pharmacy benefit managers as top
sectors for growth in 2014.
"The 13 publicly traded health care companies based in Nashville
continue to influence the national landscape. As the health care
industry transforms, there are great opportunities for innovation and
investment, particularly here in Nashville," said Smith.
"There has been a lot of press about how exchange enrollment is falling
short of expectations. However, hospital investors may be better served
focusing on who gets coverage, rather than how many. Since people who
expect to use the system are more likely to buy insurance, and they
cause the majority of bad debt, hospitals are likely to benefit from the
ACA even if enrollment falls short," said Fischbeck.
"Leaders in the managed care sector continue to focus on innovation and
new ways of serving customers while working with government and
providers as reform is implemented," said Giacobbe.
"A renewed focus for health care companies is to control costs and
improve quality of care to avoid costly readmissions. Several companies
have shown progress in this area and are expected to grow," said Mayo.
"For hospitals, we expect a positive effect from the Affordable Care Act
and we anticipate continued consolidation in the market as reform puts
pressures on providers with fewer resources," said Morgan.
"Nashville's health care industry is reacting to reform and leading the
way in implementing innovative solutions to improve health care. With a
large number of national providers based here, Wall Street pays a lot of
attention to Nashville's health care industry," said Caroline Young,
president of the Council.
About the Nashville Health Care Council
The Nashville Health Care Council, founded in 1995 as an affiliate of
the Nashville Area Chamber of Commerce, is an association of health care
industry leaders working together to further establish Nashville's
position as the nation's health care industry capital. Worldwide,
Nashville's health care industry generates more than 400,000 jobs and
$70 billion in annual revenue. The industry is Nashville's largest and
fastest growing employer. For more information on the Council, please
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20140122006487/en/
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