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Molina Healthcare Q4 2025 Earnings Note
LockSimple

Feb 6, 2026

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7 min read

Molina Healthcare Q4 2025 Earnings Note

Medicaid Managed Care has a tough couple of years ahead of it, but Molina is doubling down through RFP wins and M&A.

Martin Cech
Martin Cech
InnovAge Q2 FY 2026 Earnings Note
LockSimple

Feb 3, 2026

•

7 min read

InnovAge Q2 FY 2026 Earnings Note

An impressive turnaround, but tough sledding ahead for the InnovAge along with the rest of the PACE and D-SNP markets

Martin Cech
Martin Cech
HCA Healthcare Q4 2025 Earnings Note
LockSimple

Jan 30, 2026

•

8 min read

HCA Healthcare Q4 2025 Earnings Note

HCA Healthcare continues to be a story of fundamentals well-executed upon and impressive growth. While there are headwinds for the industry going into 2026, HCA seems well-positioned going into 2026.

Martin Cech
Martin Cech
Elevance Q4 2025 Earnings Note
LockSimple

Jan 30, 2026

•

9 min read

Elevance Q4 2025 Earnings Note

Elevance stock rebounds as it highlights 2026 as a year of "execution and repositioning" amidst insurance membership declines while prioritizing margin recovery

Kevin O'Leary
Kevin O'Leary
Alternative choices for Autism Spectrum Disorder therapy with Positive Development’s Mike Suiters and Dr. Josh Feder

Dec 19, 2025

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3 min read

Alternative choices for Autism Spectrum Disorder therapy with Positive Development’s Mike Suiters and Dr. Josh Feder

Every payer is trying to manage ABA spending with rate cuts and UM. But what if the answer is an entirely different clinical model?

Martin Cech
Martin Cech
Research Notes: CVS Health Investor Day 2025

Dec 12, 2025

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12 min read

Research Notes: CVS Health Investor Day 2025

CVS's Investor Day highlights confidence in core business execution and a refocusing around key pharma assets while the care delivery business is de-prioritized

Kevin O'Leary
Martin Cech
Kevin O'Leary, Martin Cech
Mission and margin in rural healthcare with Hopscotch Primary Care leaders Tim Gronniger and Dr. Aditi Mallick

Dec 10, 2025

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20 min read

Mission and margin in rural healthcare with Hopscotch Primary Care leaders Tim Gronniger and Dr. Aditi Mallick

Hopscotch Primary Care makes for an interesting data point as the country embarks on the Rural Health Transformation Program.

Martin Cech
Martin Cech
House Rx CEO Ogi Kavazovic on medically integrated dispensing and bringing speciality pharmacy into provider practices

Dec 10, 2025

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2 min read

House Rx CEO Ogi Kavazovic on medically integrated dispensing and bringing speciality pharmacy into provider practices

Nothing in specialty pharmacy is ever simple, but House Rx sees an opportunity for independent doctors to operate speciality pharmacies in their clinics to make things easier on the patients and add a line of business that helps them stay independent.

Martin Cech
Martin Cech
A look at the Non-Emergent Medical Transport (NEMT) business with Lyft's VP of Health, Buck Poropatich

Dec 2, 2025

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4 min read

A look at the Non-Emergent Medical Transport (NEMT) business with Lyft's VP of Health, Buck Poropatich

NEMT is an obvious solution to a real problem, but it's also suffered from outsized levels of Waste, Fraud, and Abuse. Buck talks us through the balancing program integrity and convenience while opening up a new market for the ride share platform.

Martin Cech
Martin Cech
Rural primary care and the RHTP with Hopscotch Primary Care's Tim Gronniger and Dr. Aditi Mallick

Nov 21, 2025

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3 min read

Rural primary care and the RHTP with Hopscotch Primary Care's Tim Gronniger and Dr. Aditi Mallick

Value-based care, tech-enabled clinics, and some thoughts for states on how to make the most of their Rural Health Transformation Program budgets.

Martin Cech
Kevin O'Leary
Martin Cech, Kevin O'Leary
Discussing WISeR and the Merits of Prior Auths with Jeremy Friese

Nov 20, 2025

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4 min read

Discussing WISeR and the Merits of Prior Auths with Jeremy Friese

Prioritizing high value care, getting to yes, and when gold carding makes sense.

Martin Cech
Kevin O'Leary
Martin Cech, Kevin O'Leary
Q3 2025 Earnings Wrap-Up

Nov 17, 2025

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3 min read

Q3 2025 Earnings Wrap-Up

Payers think they're priced correctly for 2026 medical trend, most companies retrenching while Privia and Alignment Health get asked about growth, and personalization and AI are still the buzz words with interesting examples from Hims, Oscar, and UnitedHealth Group.

Martin Cech
Kevin O'Leary
Martin Cech, Kevin O'Leary
Earnings Notes: Ardent Health Q3 2025

Nov 14, 2025

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10 min read

Earnings Notes: Ardent Health Q3 2025

Volume and revenue growth were as expected for the midsized urban market hospital operator, but cost pressures from professional fees and payer denials have caused them to revise their EBITDA guidance down for the year.

Martin Cech
Martin Cech
Discussing Privia Health's Q3 earnings with Privia's Jason Ross, EVP of Medical Groups

Nov 14, 2025

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3 min read

Discussing Privia Health's Q3 earnings with Privia's Jason Ross, EVP of Medical Groups

Discussing Priva's Q3 earnings, the Evolent ACO acquisition, and Privia's solid VBC performance

Kevin O'Leary
Kevin O'Leary
Earnings Notes: Humana Q3 2025

Nov 9, 2025

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10 min read

Earnings Notes: Humana Q3 2025

Humana appears set for meaningful growth in 2026, a year that was already expected to be pressured because of the Stars headwind

Kevin O'Leary
Kevin O'Leary
Earnings Notes: Privia Health Q3 2025

Nov 6, 2025

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10 min read

Earnings Notes: Privia Health Q3 2025

Privia's Q3 earnings call highlights another quarter of solid growth, strong performance in MSSP, and the M&A opportunity ahead similar to Evolent's ACO

Kevin O'Leary
Kevin O'Leary
A discussion with Stacy Edgar, CEO of Venteur

Nov 6, 2025

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2 min read

A discussion with Stacy Edgar, CEO of Venteur

Turmoil in the marketplaces, silver loading, and how insurance companies stack the shelves around open enrollment

Kevin O'Leary
Martin Cech
Kevin O'Leary, Martin Cech
Earnings Notes: Clover Health Q3 2025

Nov 5, 2025

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7 min read

Earnings Notes: Clover Health Q3 2025

Clover Health beats expectations on revenue but missed on adjusted EBITDA for the quarter. 2025 guidance was revised, lowering adjusted EBITDA and raising expected Benefit Expense Ratio.

Martin Cech
Martin Cech
Positive Development: Initiation of Coverage Report

Nov 3, 2025

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11 min read

Positive Development: Initiation of Coverage Report

The company is offering an attractive pitch to state Medicaid agencies and Medicaid Managed Care Organizations: comparable clinical outcomes at half the cost of ABA. Their key challenge is overcoming the inertia of the status quo.

Martin Cech
Martin Cech
Earnings Notes: Alignment Health Q3 2025

Oct 31, 2025

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7 min read

Earnings Notes: Alignment Health Q3 2025

Alignment Health has raised EBITDA guidance 4x over the last year. How quickly can they grow, and can they sustain their performance as they do?

Martin Cech
Kevin O'Leary
Martin Cech, Kevin O'Leary
Earnings Notes: CVS Health Q3 2025

Oct 30, 2025

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8 min read

Earnings Notes: CVS Health Q3 2025

CVS beats and raises 2025 earnings guidance; charts recovery in Aetna while spending a lot of time discussing PBM and retail pharma industry changes

Kevin O'Leary
Kevin O'Leary
Earnings Note: Centene's Q3 beat

Oct 29, 2025

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7 min read

Earnings Note: Centene's Q3 beat

Centene's stock jumps as it avoids ACA issues in the quarter and provides lots of interesting updates across ACA / Medicaid businesses

Kevin O'Leary
Kevin O'Leary
UNH Q3 Earnings Note

Oct 28, 2025

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5 min read

UNH Q3 Earnings Note

UHG gets "back to the basics", discussing path to restore margins across UHC and Optum Health. Optum briefly discusses its AI play.

Kevin O'Leary
Kevin O'Leary
Rachel Wilson, Co-founder and COO of Bluebird Kids Health on pediatric value-based care

Oct 20, 2025

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33 min read

Rachel Wilson, Co-founder and COO of Bluebird Kids Health on pediatric value-based care

The challenges and opportunities of Medicaid Managed Care for children, build versus buy decisions, and the opportunity for generational returns by investing in children’s health.

Martin Cech
Martin Cech
Fortuna Health: Initiation of Coverage Report

Oct 8, 2025

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11 min read

Fortuna Health: Initiation of Coverage Report

Medicaid eligibility and enrollment support at a critical moment for payers, providers, and patients.

Martin Cech
Martin Cech
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