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HCA Healthcare, Inc. (HCA) Presents at RBC Capital Market...
2026-05-21 · via All Articles on Seeking Alpha

HCA Healthcare, Inc. (HCA) RBC Capital Markets Global Healthcare Conference 2026 May 20, 2026 11:30 AM EDT

Company Participants

Christopher Wyatt - Senior VP, Principal Accounting Officer & Controller

Conference Call Participants

Benjamin Hendrix - RBC Capital Markets, Research Division

Presentation

Benjamin Hendrix
RBC Capital Markets, Research Division

Great. Thanks, everybody, for joining us today. My name is Ben Hendrix, I'm the health care services and managed care analyst here at RBC. Very pleased to host Chris Wyatt, SVP and Controller from HCA Healthcare with us. Thank you very much.

Christopher Wyatt
Senior VP, Principal Accounting Officer & Controller

Thanks, Ben. Good to be here.

Question-and-Answer Session

Benjamin Hendrix
RBC Capital Markets, Research Division

Great. We're getting a lot of questions this week on your EPTC expiration assumptions. So I know that we have got $600 million to $900 million in adjusted EBITDA headwind we kind of baked into your bridge. And I think that people are -- saw the 1Q $150 million and wanted to get a little bit of insight into how you're thinking about the remainder of the year, where we're kind of falling in your expectations at this point versus that $750 million midpoint.

Christopher Wyatt
Senior VP, Principal Accounting Officer & Controller

Sure. Yes. Just to level set everybody, I think you know our assumptions, we assume 15% to 20% decline in our exchange volume much of that going to uninsured with the rest employer-sponsored insurance. During the first quarter, we saw about a 15% decline. That decline represented both patients that we actually saw in the system that were no longer exchange patients, but then an estimate that we made about patients that we treated that presented with HICS coverage that we think will no longer, they'll ultimately have it because they won't be able to make their premium. So we made an estimate of that in