Healthcare Facilities & Managed Care "5/12/26 Conference Recaps" Rice

Research evidence excerpt

Healthcare Facilities & Managed Care "5/12/26 Conference Recaps" Rice

occupancy markets and noted that more than half of high-occupancy hospitals have

bed-addition plans over the next three years. EHC is also looking at small format

hospitals as a potential relief to its capacity issues, although the first hospital of this type

is not expected to open until 2027.

UHS - Details on Florida DPP Approval

UHS discussed the Florida DPP, which was approved for fiscal year 2025. UHS is

estimating a ~$100 mln annual net benefit from the approved program, up from a

previous estimate of ~$50 mln. The company did not go into detail about the change in

estimate. For 2026, the program is expected to be approved later this year, and UHS has

not seen any indication that the 2026 program will be materially different from the 2025

program. However, the company is taking a cautious approach until it has more details

on the structure of the 2026 program.

DVA - Positive Outlook for Long Term Volume Growth

DVA's messaging was consistent with its recent public statements. The company

discussed its raised volume guidance, which is driven roughly evenly by incremental

patients from Fresenius clinic closures and stronger-than-expected core volumes, with

census above plan and early signs of easing mortality. Management reiterated

confidence in returning to 2%+ volume growth by 2029, supported by gradual

mortality improvements and emerging benefits from middle-molecule clearance

technologies, higher vaccination rates, increase use of GLP-1s among ESRD patients,

and more. On GLP-1s, DVA continues to see no clear signal on admissions or volumes,

maintaining the view that delayed CKD progression and lower mortality should broadly