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Interesting batch of data from Cano Health this morning, for those following the risk-bearing provider segment (or Medicare Advantage in general).
>110K patients under management, with a clear focus on the Hispanic population. And (twist!), the company is highly profitable.
>110K patients under management, with a clear focus on the Hispanic population. And (twist!), the company is highly profitable.
Cano might be the clearest example I've seen of a large risk-bearing provider focused on a specific demographic group: elderly Hispanic patients.
In practice, that means that, per Cano, 80% of patients *and staff* come from minority groups, and 85% of employees are bilingual.
In practice, that means that, per Cano, 80% of patients *and staff* come from minority groups, and 85% of employees are bilingual.
That focus fits pretty nicely in the MA segment, and it clearly tracks with their geographic expansion from a Florida base to Texas, Nevada, California and Puerto Rico. All very large MA markets.
MA penetration in PR exceeds 70%, which dwarfs the 40-45% in FL, CA etc.
MA penetration in PR exceeds 70%, which dwarfs the 40-45% in FL, CA etc.
Whatever the other merits of this proposal, funneling another ~$30B to hospitals is the antithesis of "targeted relief."
A dozen hospital chains just presented at #JPM21, two weeks ago.
General theme: Financially speaking, hospitals are doing quite well. 1/n
A dozen hospital chains just presented at #JPM21, two weeks ago.
General theme: Financially speaking, hospitals are doing quite well. 1/n
We have, for example, Community Health Systems, which operates 89 hospitals in 16 states, many of them in smaller towns / metro areas.
Through the pandemic, CHS's EBITDA margin never even fell into single digits, and profitability actually *increased* in 2020.
Through the pandemic, CHS's EBITDA margin never even fell into single digits, and profitability actually *increased* in 2020.
Meanwhile, Lifepoint Health (84 hospitals, 30 states) also saw profits increase in 2020, while its cash-to-debt ratio fell. Pretty solid year.
