US MedTech: Survey: Potential ACA Impacts, Not All Volumes are Created Equal

Research evidence excerpt

US MedTech: Survey: Potential ACA Impacts, Not All Volumes are Created Equal

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15 Jul 2026 05:00:00 ET │ 13 pages

US MedTech

Survey: Potential ACA Impacts, Not All Volumes are Created Equal

CITI'S TAKE

Joanne Wuensch AC

The potential impact of ACA cuts has been well telegraphed, with concerns +1-212-816-9606

fueled by HCA’s 2Q26 pre-announcement. Yet the question of magnitude, joanne.wuensch@citi.com

impact length, and type of procedural impact remains. To help answer these

questions, in partnership with Citi Research Innovation Lab, we conducted Anthony Occhiogrosso

a survey (n=40) of hospital CEOs, CFOs, and other administrators at multi- +1-212-816-7579

hospital systems and integrated delivery networks (IDNs), with 80% anthony.occhiogrosso@citi.com

presiding over systems with 600+ hospital beds. Most reported a 2Q26

impact, with ~70% noting a volume headwind and 30% no-impact (50% Jane-Marie Lai

noted 1-5% headwind), and 86% expecting a return in 2H26: +1-212-816-3628

Cardiovascular and General Surgery seem to be more immune with 53% janemarie.lai@citi.com

reporting some growth in 2Q26, versus ~flat growth for Ortho (48%),

Trauma (58%), Urology (60%), and Gynecology (45%). While these results Nikhil Guddeti

corroborate concerns which will likely be an overhang until more clarity is +1-212-816-2606

provided, they are not universal impacts with pockets of optimism. nikhiltej.guddeti@citi.com

Inpatient and outpatient volumes paint a somewhat rosier picture — For CY2Q26

inpatient volumes, 70% of participants we surveyed reported inpatient volume

growth (≥1%), with 55% reporting low-single-digit growth and 15% reporting

growth over ≥4%, while 23% of participants reported low-single-digit declines in

their system.