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Analyst
Raj Kumar
Period: Reporting periods mapped to calendar 2025 Q2 – 2026 Q1 (4 quarters).
- Questions
- 7on tracked calls
- Challenge rate
- 14%1 of 7 questionsLimited sample
- Companies
- 2questioned at least once
- Reporting periods
- 4with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 7 of 7 questions from 2 companies
UHSUniversal Health Services4 questions · 3 reporting periods · 1 of 4 challenging
Calendar 2026 Q1
did you see a pickup from deferred care pushed by winter storms? And any commentary on acute care surgical volumes and acuity shifts year over year?
Show response
Filton said elective surgical cases rescheduled but flu volume is not recoverable. Weather impact estimated $5-7M mostly from D.C. burst pipes. Not counting on significant deferred care recapture in growth outlook. Behavioral inpatient admissions redirected during storms generally not recovered.
Calendar 2025 Q3
You've seen kind of like SWB growth of high single digits on a same-store basis or while volumes have kind of been slightly negative to slightly positive throughout the year. So maybe just trying t...
Show response
Filton explained two factors: labor scarcity in one-quarter to one-third of hospitals muting volumes, and outpatient behavioral demand being served in fragmented non-traditional settings. SWB increase reflects staffing up for outpatient capacity expansion.
You had a step-up in kind of acquisition spend in the quarter, and I'm assuming that's kind of more on the outpatient behavioral acceleration that you've kind of spoken to
Show response
Filton clarified Q3 acquisition spend was $35-40M mostly U.K. inpatient, not U.S. outpatient. Outpatient step-in clinics require only $1-2M each, with staffing being the bigger challenge versus capital.
Calendar 2025 Q2
Maybe kind of walk us through the puts and takes for UHS and then kind of maybe what your view is on the potential impacts
Show response
Filton said difficult to project specific impact until site neutrality proposal details are known. Industry broadly lobbying against additional cuts given already significant legislative reductions.
HCAHCA Healthcare3 questions · 3 reporting periods · 0 of 3 challenging
Calendar 2025 Q4
Maybe just to in line to kinda recent winter storm, maybe any operational disruptions to call out and maybe kind of any considerations for the one q
Show response
Sam noted Nashville storm impact unknown, referenced prior Texas storm navigation. Expects clarity by end of January. Believes recovery opportunity exists as with past weather events.
Calendar 2025 Q3
kind of any color on how that trended year-over-year? And as a sense, if we kind of bridge towards '26 and think about Valesco
Show response
Mike noted pro fees up 11% YoY, 1% sequential, driven by anesthesia and radiology. Still 24% of other OpEx. Sam expects continued Valesco financial improvement into 2026 plus clinical and engagement benefits.
Calendar 2025 Q2
I just have one on trying to frame the $600 million to $800 million of targeted savings that you had over the 5 years when you did that during the Investor Day
Show response
Mike outlined three resiliency pillars: benchmarking against Fortune 100, automation/digital transformation, and shared service platform expansion. Efforts accelerated and enhanced beyond original Investor Day scope.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| UHS Universal Health Services | 4 | 25%1 of 4 questions |
| HCA HCA Healthcare | 3 | 0%none of 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2025 Q2 | 2 | 0%none of 2 questions | 2 |
| 2025 Q3 | 3 | 33%1 of 3 questions | 2 |
| 2025 Q4 | 1 | 0%none of 1 question | 1 |
| 2026 Q1 | 1 | 0%none of 1 question | 1 |
- 2025 Q22 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2025 Q33 questions · challenge rate 33% (1 of 3 questions) · 2 companies
- 2025 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q11 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Cost Pressure3
- Demand2
- Revenue Growth2
- Guidance Reliability1
- M&A1
- Labor Market1
- Capex Investment1
- Geographic Expansion1
- Innovation & R&D1
- Regulation Policy1