HCA Healthcare, Inc. (HCA) Presents at Wells Fargo 21st Annual Healthcare Conference Transcript

SA Transcripts 162.13K Followers Follow HCA Healthcare, Inc. ( HCA ) Wells Fargo 21st Annual Healthcare Conference September 9, 2026 10:15 AM EDT Company Participants Samuel Hazen - CEO & Director Frank Morgan - Vice President of Investor Relations Conference Call Participants Stephen Baxter - Wells Fargo Securities, LLC, Research Division Presentation Stephen Baxter Wells Fargo Securities, LLC, Research Division All right. Well, thank you, everyone, for joining us. I'm really pleased to have HCA here for our next session. So HCA is the largest health system in the country. With us from the company, we're really pleased to have Sam Hazen, CEO. Also on stage is Frank Morgan from Investor Relations. Question-and-Answer Session Stephen Baxter Wells Fargo Securities, LLC, Research Division Maybe to kick things off, it's been a pretty dynamic year, both for the company and kind of the space as a whole. Any kind of interest in maybe giving us, kind of, a brief state of the union, perspective on demand environment, how you're thinking about your demand in your markets over maybe a bit of a longer time period? Samuel Hazen CEO & Director Yes. I think clearly, Steve, thank you for having us. We are dealing with a unique year when it comes to policy implications. The enhanced premium tax credits, which we advocated strongly for at the end of '25 expired, and it had a more pronounced impact on our business and on people than I think a lot of estimates that were out there. So for us, that's been the biggest dynamic. And I was trying to give some earlier groups some context around all of that. So through the first 6 months of this year, we've seen about 2.1 million adjusted admissions inside of HCA. The discussion has really revolved around 22,000. Those 22,000 adjusted admissions that were -- the adjusted admissions that migrated