Health care executives gathered for The Nashville Healthcare Council's panel discussion attended by almost 500 healthcare executives.
"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".
The president and CEO Wayne T. Smith along with panelists Kevin Fischbeck, Ralph Giacobbe, director of the health care research team, Bank of America, Merill Lynch Global were among the panelists.
The 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.
"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.
The Nashville Health Care Council, was 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.
Hannah Punitha (IRDA Licence Number: 2710062)
Eastern Standard Time, January 2014