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Universal Health Services (UHS) investor relations material
Universal Health Services Wolfe Research Healthcare Conference 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Year-to-date reflections and business environment
Third quarter performance aligned with expectations, with some non-recurring items impacting results.
Received $90 million in annual DPP payments from Washington, DC, after CMS approval.
Businesses are now operating in a post-COVID environment with more historically normal patterns.
Acute segment same-store revenue growth projected at 5.5%-6%, behavioral at 6%-7%, with pricing as a key driver.
Behavioral patient-day growth expected at 2%-3% in the near to intermediate term.
Exchange subsidy expiration and impact
6%-6.5% of acute admissions are exchange patients, with revenue contribution matching volume.
Estimated $100 million headwind if exchange subsidies expire, assuming one-third of exchange patients lose coverage.
Utilization patterns for exchange patients resemble Medicaid, with high ER usage and low elective procedures.
Most patients losing coverage expected to continue ER use, but without reimbursement.
Remaining two-thirds of exchange patients assumed to retain similar coverage.
Medicaid supplemental payments and provider tax programs
Net benefit from Medicaid supplemental payments estimated at $1.3 billion for 2025.
OB3 cuts to Medicaid payments begin in 2028, reaching $420-$470 million by 2032, with cuts progressing ratably.
Cuts are not proportional by state, generally about one-third of the total benefit.
CMS proposed rule on provider taxes not expected to materially impact current year estimates.
Potential additional benefit from Florida DPP program estimated at $45-$50 million; California could be significant but unquantified.
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