I just re-read "The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success" by Willam Thorndike. It's an analysis of eight relatively unknown Jack Welch-record-beating CEOs and how they trounced the market and industry peers over 20+ years. Their primary source of value as CEOs was how they allocated capital, or how they invested … Continue reading Corporate Capital Allocation and Healthcare Spending
People who work on the business side of healthcare often wish that companies would think about healthcare more often, or even concede that they are in "the healthcare business." I suppose part of this is the law of the instrument, which even if not said by Mark Twain, sounds like Mark Twain: "To a man … Continue reading Is The Cheesecake Factory in the Healthcare Business?
April means baseball, tax day, and Earnings Season. Company earnings, while prone to short-termism and BS (see: The Number by Alex Berenson), often reveal truths. For example: the impact of a shifting yield curve for health savings companies, acquisition data (including prices paid), new growth challenges, and subtle things divulged then later omitted. While you … Continue reading The Value of the Earnings Trail
What do vendors say about Health Savings Accounts (the triple-tax savings accounts, or the 401k+ of healthcare) and how they're promoted by the brokers and consultants? These often decide which vendor is chosen amidst the fragmented market for the 20M+ Americans who have these accounts. Optum (UHC): We're No. 1. UMB Financial: “Healthcare solutions that … Continue reading Health Savings Accounts And Promotion