Hospital stocks fall as GOP looks to revive Trumpcare bill

Shares in US hospital operators fell today after Republicans began planning to revive a bill which aims to dismantle and replace Obamacare.

Shares of HCA Holdings, the largest publicly traded hospital operator, fell 3.2%, while Tenet Healthcare was off 4.8% and Community Health Systems dropped 6.3%.

Members of the Trump administration, including VP Mike Pence, met with the moderate conservative Republican “Tuesday Group” at the White House on Monday. Admin members later met with the Freedom Caucus, which previously withheld support for the GOP-backed Trumpcare bill that was pulled last month.

The White House is reportedly aiming to see a revised bill up for a vote as early as the end of the week, aiming to secure a vote before the House breaks for a spring recess.

House Speaker Paul Ryan (R-WI) commented that Republican lawmakers are having productive talks on a new healthcare reform bill, but noted that it was too soon to say when a new proposal would be put forth.

“It’s premature to say where we are or what we’re on because we’re at that conceptual stage right now. We don’t have a bill text or an agreement yet, but this is the kind of conversations we want,” Ryan said.

Hospital shares surged late last month after Republican leaders in the US House of Representatives withdrew the Trumpcare bill due to a shortage of votes.

A vote on the measure was planned after Trump cut off negotiations with Republicans who had balked at the plan and issued an ultimatum to vote on March 24, win or lose.

The legislation saw opposition from both moderate and conservative Republicans, and neither House leaders nor the White House were able to create a plan which satisfied both parties.

Material from Reuters was used in this report.

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