The Keckley Report

Last Tuesday, HCA, the largest investor-owned hospital system, released their Q4 2025 and year-end earnings and they’re impressive. The 190-hospital system reported: Net income of $6.8 billion in 2025, a…

As media attention focused on Minneapolis, Greenland and Venezuela last week, the Center for Medicaid and Medicare Services (CMS) released its 2024 Health Expenditures report Thursday: the headline was “Health…

This week, 8000 healthcare operators and investors will head west to the 44th Annual JP Morgan Health Conference in San Francisco. Per JPM: “The (invitation-only) conference serves as a vital…

Congress returns to DC this week to debate the merits of extending the advanced premium tax credits that enable coverage for 4 million in a climate of high anxiety about…

Key Takeaways: A challenging economic climate means continuing health industry profitability is unlikely.   The majority of Americans want systemic changes the system’s insiders resist. Longterm, inattention to structural flaws…

Key Takeaways: 2026 is a pivotal year for U.S. healthcare. Structural, regulatory and competitive changes will alter the landscape. 10 areas will likely be the foci. Last week… the stock…

The federal shutdown ended Wednesday. Congress passed and the President signed a continuing resolution (CR) that extends funding and delays changes to several health programs until January 30, 2026 including…

In what political pundits called a sweeping win by Democrats in Tuesday’s elections, affordability and costs of living emerged as the issues that mattered most to voters. It’s no surprise….

Key Takeaways: The U.S. health system’s future is uncertain but outside forces will define its direction. 9 structural changes appear necessary to a transformed system of health that’s affordable, comprehensive…

Key Takeaways: Consumers think the U.S. health system is big business focused on making profits. Consumers do not understand how the system operates. Consumer pay more attention to their out-of-pocket…