Americas Healthcare Services CY2027 OPPS ASC Proposed Rule

Goldman Sachs evaluates the CMS CY2027 OPPS/ASC proposed rule as incrementally positive for healthcare facility operators, citing favorable payment updates and a shift toward ambulatory settings. Tenet Healthcare (THC) is highlighted as being particularly well-positioned to benefit.

Key Takeaways

• 1.CMS released the CY2027 OPPS/ASC proposed rule, which we view as incrementally positive for operators like THC, HCA, UHS, ARDT, and UNH due to positive rate updates and budget-neutral redistribution of funding away from 340B drug payments.
• 2.The rule reinforces long-term structural migration of procedures from inpatient to ambulatory surgery centers (ASCs), benefiting market leaders like THC.
• 3.CMS proposes a 2.4% payment update for both hospitals and ASCs that meet quality reporting requirements for CY2027.

Table of Contents

• Key Data Read-Outs
• Disclosure Appendix
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Regulatory disclosures
• Additional disclosures required under the laws and regulations of jurisdictions other than the United States
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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