U.S. hospitals see surgery rebound and higher IT budgets - SVB Securities

AMERICAN WELL

19/10/2022 18:23

** SVB Securities says a survey of 42 hospital
administrators shows an encouraging picture on Q3 admissions
    ** Brokerage says despite cost pressures, hospital IT
budgets continue to grow with a projected 10% increase marking a
material increase from 7% growth expected in last survey
    ** Sees growing IT budgets favourable for R1 RCM Inc
 RCM.O , Health Catalyst Inc  HCAT.O  and Premier Inc  PINC.O 
    ** Growing budget marks a shift in IT priorities of hospital
administrators to revenue cycle management and data analytics
away from telehealth investments - SVB Securities 
    ** Says pricing and cost trends look good vs expectations
with slightly improved contract labor 
    ** Brokerage believes hospital outpatient volumes look
higher sequentially, breaking normal seasonal patterns of
quarter-on-quarter declines in Q3
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))