Apparently, Obamacare isn’t really working out for hospitals, as hordes of uninsured eat away at quarterly profits.
The sector is down an amazing 10% today, led by an astounding decline of more than 30% in CYH.
Obviously there’s an issue here, a very sensitive one. This isn’t S Africa, filled with savages who toss uninsured patients out of hospitals, no matter how sick they are. I believe it’s the duty of government to ensure its citizens are taken care of in this regard. Build all the fucking tunnels and bridges in the world; but none of it means anything if you’re not feeling good.
The current system is unsustainable. A person like me pays upwards of $1,500 per month for a family plan, more than $18k per annum. Who the fuck can pay that sort of money, other than people making a shitload of coin?
Maybe fuckers like VRX need to be regulated. Or, maybe there needs to be a real national plan, sans all of the Obamacare crap. One thing is for certain, this shit here cannot last.
If you enjoy the content at iBankCoin, please follow us on TwitterHCA said last week that its quarterly earnings would be hurt by an increase in labor costs and uninsured patients. The sustained poor results from hospitals suggest that the benefits of health reform in the U.S. have run out, said Sheryl Skolnick, an analyst with Mizuho Securities USA.
“The nightmare of health care continues and we’re now convinced it is time to get out of the way,” she said in a note to clients, cutting her rating to neutral from buy.
BIS just went green. OBAMACARE was basic deception
Health care shouldn’t be a for profit industry. Your points are spot on Fly as usual. $1800 a month is absolutely insane.
Yes it absolutely should be a for profit industry. You take the profit out of healthcare and healthcare quality goes down the drain. If you take profit out of biotech, r&d disappears and no incentive for smart people to come up with cures for diseases. The government can’t do anything properly, why would you want them to run healthcare.
+1 to the trashman.
Nonsense. Marc David is correct. Look at the rest of the industrialized world – Canada, Australia, England, France, Sweden, the list goes on. American healthcare system (not the technology) is criminal.
I have no problem with profits. I do have a problem with so many in the system feeling entitled to inflated salaries/profits because “its for the kids”. Just because people have no choice but to pay for health care does not entitle you to rip them off.
This current system is broken. We may have the best stuff, medicine and cures, but if means nothing if no one can afford it.
Exactly. I work in HC. For years i’ve been saying “These people are going to price themselves right out of business one day.”
We can’t even define who is a citizen anymore let alone give them free medical care.
Global redistribution of people
Any idea what’s going on in Germany right now? Sweden France Italy Austria
Why more of you can’t see it’s by design is unreal. Migrants/Immigrants/’Invasion’
@Fly, but you love House!? Isnt it your fav. TV show?
Eat your peas….
Lot of healthcare carnage today…
From a long term investment standpoint, the pharma distribution industry is a no brainer. They are too big to fail. $ESRX $CAH $CVS $WAG $MCK
Cybersecurity is also eating into profits – while cyber is cool and profitable, when it comes to business, it is just a cost – the only return on investment it has is it stops a massive attack and then how do you prove an event that didn’t happen? the Anthem breach showed the ass-pain that could result from a large breach and the fines and fees to un-fuck themselves from that are crazy. healthcare data costs more on the dark web than credit card numbers because it takes longer to discover that the info is missing, so there is more chance to use it….but if you don’t have a decent cybersecurity program in place, you are screwed – see the latest authority that the FTC has with regards to suing companies without proper safeguards in place – google “FTC Wyndham appeal” and also see look at the FTC Data Standards of Care.
Great point.
My Twitter feed is creaming over McD. Who the hell is eating there? Ahhhh, the HCA uninsured …
Keeping up with the healthcare discussion theme, WSJ is reporting that that Theranos’s CEO is saying the company is in a “pause period” whatever the crap that means for a $10 billion growing life sciences company. Also, she confirmed the company is down to only one test using a few drops of blood, while performing 240 or so blood tests in the esoteric manner. This has down-round written all over it.
You know what, No one is loving Casino stocks either. Normally, on a Central Bank Slap to us Bears, even with horrible earnings, the Casinos would rally. Anyway…that pattern is not playing out today…sort of strange.
Obamacare DID work for the hospitals….it was just a one time shot in the arm though.
It created a revenue stream for patients that were already in the cost of operations. Essentially money for nothing. The problem is that it is now fully baked in (sans any states that opted out of medicaid expansion) so it’s no longer a growth story.
my 2014 platinum plan was $505mo. 2015 is $635mo. ANTM tells me 2016 will cost me $828mo. LOLZ
now…back to CYH MACK GNC VRX
oh, and HZNP
I had a Cadillac plan, New plan cost the same but my deductible doubled. My doctor refuses to accept my new plan. So I pay in cash, it also does not count against my deductible any test are also not covered…
i’m not the biggest fan of the new iBC page format…but i will say every writer has really stepped it up with the picture/title combos. Absolutely on fire.
Many hospitals are expanding. It seems if they didn’t have money it wouldn’t be possible. (Imo)
Who said they don’t have money?