ACA Changes, PE Oversight, Telehealth Trends, & Ortho Valuation!

CMS Proposes Sweeping Changes to ACA Exchange Plans for 2027

On February 11, 2026, the Centers for Medicare & Medicaid Services (CMS) published its proposed Notice of Benefit and Payment Parameters (NBPP) for 2027. The 577-page proposed rule represents the Trump Administration’s most comprehensive restructuring of Affordable Care Act (ACA) marketplace regulations to date, proposing to eliminate standardized plan requirements, dramatically expand eligibility for catastrophic health plans, permit non-network plans to sell on exchanges, roll back network adequacy standards, and tighten income verification requirements. This Health Capital Topics article explores the CMS proposed rule and discusses stakeholder responses. (Read more...)

States Intensify Healthcare PE Oversight

Private equity (PE) investment in healthcare has expanded substantially over the past 15 years, drawing growing scrutiny from state legislatures across the U.S. Following a significant wave of legislative activity in 2025, state capitols opened 2026 with a new round of proposals that would further expand transaction oversight, strengthen prohibitions on the corporate practice of medicine (CPOM), and increase transparency requirements for PE-backed healthcare entities. This Health Capital Topics article surveys the evolving state regulatory landscape governing PE involvement in healthcare and examines key legislative developments in 2026. (Read more...)

Telehealth Utilization Stabilizes as Legislative Uncertainty Persists

Five years after telehealth use surged 300-fold at the onset of the COVID-19 pandemic, virtual care has settled into a quieter but durable role in primary care delivery. New data from Epic Research, drawn from over 411 million primary care encounters, show that telehealth utilization has held steady at approximately 6% of visits since 2023 – a stabilization that suggests the modality has found its post-pandemic baseline. At the same time, Congress has once again extended Medicare telehealth flexibilities rather than making them permanent, this time through December 31, 2027. This Health Capital Topics article examines current telehealth utilization trends across specialties and patient populations, and the evolving legislative landscape governing Medicare reimbursement for virtual care. (Read more...)

Valuation of Orthopedic Services:
Competitive Environment

As discussed in the first installment of this five-part Health Capital Topics series regarding the valuation of orthopedic services, musculoskeletal disorders (MSDs) affect approximately 126.6 million Americans, representing roughly one in two adults, and generate healthcare costs exceeding $980 billion annually. The prevalence of these conditions, particularly arthritis, is expected to increase substantially over the coming decades as the population ages. This second installment examines the competitive environment for orthopedic services, including the demand for orthopedic services, the supply of orthopedic surgeons, and the factors driving the supply-demand imbalance in this specialty. (Read more...)

NEW ARTICLE!

The "Valuation of Care Coordination Services" Series authored by HCC President, Todd A. Zigrang, MBA, MHA, FACHE, CVA, ASA, ABV, and, HCC Senior Vice President and General Counsel, Jessica Bailey-Wheaton, Esq., was featured in the recent issues of The Value Examiner, published by the National Association of Certified Valuators and Analysts (NACVA) .

For more recently published material written by HCC, please visit www.healthcapital.com

Read Part I

Read Part II