Political and regulatory debates surrounding healthcare are constantly evolving. In light of the government’s ever-increasing role as both regulator and payer, investors should be adept at following healthcare. Key decisions are regularly made by legislators and regulators on issues such as Medicare payment reform, mental health access and Medicaid program coverage. Capstone’s access to the policy world allows it to provide an array of insights, from a micro study of restraint and seclusion training requirements in medical facilities to a macro view of large provider payer mix trends, effectively translating regulatory directives into practical intelligence for clients.

Our process is designed to uncover policy-driven investment ideas as well as to advise private equity firms on the impact of regulation on potential and existing investments in the healthcare sector. Our analysts are skilled in providing ongoing coverage of managed care organizations and behavioral health providers for our public markets clients. Our deep healthcare sector expertise positions us to assess the impact of regulations on healthcare companies and securities. In addition, we also work with private equity clients on a transactional basis, providing deep-dive regulatory due diligence for potential investments. Private equity investors lean on Capstone’s expertise in healthcare policy to gain deep-dive insights on the regulatory risks and opportunities associated with a potential investment.

Capstone’s policy analysis covers the full spectrum of healthcare services, from a discussion of pharmaceutical managers to coverage of European medical device companies. Additionally, Capstone has built strong relationships with major industry associations, such as America’s Health Insurance Plans and the Pharmaceutical Care Management Association, as well as health-focused policymakers and influential policy experts, to bring together both the details and the big picture integral to an investment evaluation.

Below, we highlight examples of select key areas across the health industry continuum that are included within our expertise.

Selected Issues:

  • Managed care— Employee benefit brokers, employer-sponsored insurance, Employee Retirement Income Security Act (ERISA), Medicare Advantage, Medicaid and the Affordable Care Act
  • Healthcare staff training— Non-violent crisis intervention training for schools and hospitals, and travel-nursing
  • Pharmaceutical supply chain— Clinical research organizations, medical communication agencies, pharmaceutical manufacturers, pharmacy benefit managers and specialty pharmacies
  • Health IT— Electronic health records, patient engagement platforms, clinical data management and telehealth
  • Long-term care— Skilled nursing facilities, home health, skilled therapy, home health aides, and hospice
  • Providers— Urgent care, acute care hospitals, ambulatory surgery centers (ASCs), air ambulance, renal care, cancer centers and other single specialty providers (gastroenterology, dermatology, dental, anesthesia, mammography, emergency)
  • Healthcare financial services— Health savings accounts, revenue cycle management and self-pay financing
  • Behavioral Health – Substance abuse, eating disorders, special education / Autism treatment, opioid epidemic



- Capstone LLC -

Washington DC

-Capstone Research Limited-