Hospital stocks sharply higher after health care ruling
Source: Washington Post
Stocks of hospital companies rose sharply Thursday after initial reports said the Supreme Court had upheld the individual insurance requirement in President Barack Obamas health care overhaul.
...
Stocks of big insurance companies dropped sharply when the ruling came out shortly after 10 a.m. EDT, then climbed back somewhat. They were down about 1 percent, roughly the same as stocks in the broader market.
Stocks of drug companies and medical device makers were also slightly lower.
Read more: http://www.washingtonpost.com/national/hospital-stocks-sharply-higher-after-health-care-ruling/2012/06/28/gJQA01348V_story.html
slackmaster
(60,567 posts)earthside
(6,960 posts)ThatsMyBarack
(7,641 posts)Making the rich richer. How does that help us?
still_one
(92,539 posts)emulatorloo
(44,276 posts)And why health industry spent millions to campaign against it?
Because they love it so?
Sorry, does not make sense.
KurtNYC
(14,549 posts)The fight is isn't to overturn it so much as to spend money now to try and steer it.
To me the elephant in the room is that Romney is the GOP nominee! The choice in 2012 on healthcare is: Obamacare versus Romneycare. More specifically -- either Obama's allies steer or Romney's steer this thing.
ACA and what it could lead to is nearly the size of Social Security money wise. If you lump together the size of the following industries you have trillions: hospitals, major drug makers, insurance companies, hospital equipment makers, hospital vendors and contractors, administration fees and the like. The cost of healthcare, specifically end of life care, also affects the credit, banking and real estate industries because who and how healthcare is paid for impacts how many people die with a balance versus a huge unpaid personal debt.
Imagine if they privatized social security and mandated that we all invest, the fight would be over which companies benefit the most from such a sea change. I think the current transition in healthcare is very similar.
Leopolds Ghost
(12,875 posts)We do not have to imagine. That will be the next step -- and both parties in Congress would vote to pass the final bill.
Hell Hath No Fury
(16,327 posts)I am not celebrating. I had 4 years of "evil socialized medicine" vs. years of insurance where I had a copay that I was unable to cough up on more than one occasion.
I know which one is superior.
hue
(4,949 posts)The American Nurses Association as well as National Nurses United and other nursing organizations completely supported the Affordable Healthcare Act!
http://nursingworld.org/HomepageCategory/NursingInsider/Archive_1/2011-NI/Jan-2011-NI/ANA-Support-Affordable-Care-Act-.html
Healthcare will always be "big". Healthcare needed big help and today it got it!! This is a win for 99% of the US!!
This is absolutely a win. It's the first step in a long road to health care for all.
Gman
(24,780 posts)still_one
(92,539 posts)iandhr
(6,852 posts)... one of New York Cities largest hospitals.
He said that they have been preparing for the last 2 years to implement the Bill. He said it would have been devastating if it was overturned.
Shadowflash
(1,536 posts)...is obscene.
groundloop
(11,539 posts)Shadowflash
(1,536 posts)Because denying people care to save money is a legitimate profit increasing tactic and, when you have shareholders to please, profits are priority #1.
Hoyt
(54,770 posts)they both spend a lot of money.
andym
(5,447 posts)The stock of HCA Holdings, formerly Hospital Corp. of America (HCA), the largest private hospital chain in the United States, rose more than 10%. Quest Diagnostics, which runs laboratories (DGX), rose almost 3%.
Insurance companies were down sharply as analysts rushed to sort out the ruling. UnitedHealth Group stock (UNH) fell almost 4%, WellPoint (WLP) 7% and Aetna (AET) 4.6%.
http://www.usatoday.com/money/industries/health/story/2012-06-28/health-care-stocks/55889578/1
------------
Insurance companies are now getting hammered.
The provisions forcing them to pay at least 80% of premiums into actual health care is the likely reason.
KurtNYC
(14,549 posts)If you are SCOTUS "buy the rumor sell the fact" becomes "buy the ruling sell on the announcement."
Cha-ching!
progressivebydesign
(19,458 posts)Hospitals LOSE almost 50 billion a year in uninsured health care costs. They will finally get paid for their services.
Leopolds Ghost
(12,875 posts)Blaming the uninsured for health care costs and insisting that the uninsured, not hospitals, pay for their health care costs, by fining the uninsured for not carrying insurance.
I remember when Democratic city officials started shutting down major public hospitals (Charity in New Orleans, DC General, etc.) for the same reason -- because the argument was that they were servicing too many impoverished uninsured people and encouraging "dependency" on free health care..
girl gone mad
(20,634 posts)Hospitals are reimbursed by the government for almost all uncompensated care, which is provided to the insured as well as to the uninsured.
caroll31
(20 posts)The major reasons for creating the healthcare bill was to get skyrocketing costs to stop inflating so fast. This bill helps to do that for business. While it will cost more those costs will be under better control and be more predictable so businesses will be able to predict future costs more reliably.
boppers
(16,588 posts)Hospital "costs"? Nope, no such restrictions.
Doctor "costs"? Nope, no such restrictions.
Pharmaceutical "costs"? Nope, no such restrictions.
I'm on a BCBS plan, and since the last time I went in, nobody knew I was insured, so I got billed "retail rate". $300 for each 5-minute doctor's visit. That's $3,600 an hour, $28,800 per 8 hour *day*, just for talking to a doctor.
Yeah, the hospital stocks are rising, along with "medical groups", and all the other snake-oil scams, because nobody thought to regulate the fuck out of their soulless, greedy, over-charging, enterprises.
...and before I get hit with some sob-story about doctors paying off student loans, or malpractice insurance, that racks up to $7,488,000. Per year. Per doctor.