Case Studies


  • Medicare Spent $800 Billion Last Year. Is a New Alzheimer’s Drug Worth an Extra $400 Billion? June 14, 2021 — The Food and Drug Administration’s decision to approve Biogen’s Alzheimer’s drug Aducanumab will accelerate difficult and unavoidable questions for lawmakers and the Centers for Medicare and Medicaid Services (CMS) over Medicare spending and program cost controls. The agency’s decision pits desperate patient groups against those tasked with running the Medicare program. And […]Learn More
  • Medicare Advantage Topics Investors Should Pay Attention to in 2021 June 12, 2021 — We recently held a policy day exclusively for clients to discuss the outlook for Medicare Advantage. There are eight MA topics we believe investors should pay attention to for 2021–including the Medicare Trust Fund, calculating insurer medical loss ratios, dialysis carve-in, and more. See a preview below: Report to Congress on […]Learn More
  • Education Department Prioritizes Student Loans Before Gainful Employment, Bundled Services Exemption June 9, 2021 — In this weekly bulletin, the Capstone Financial Services team shares insights on key policy priorities for the Department of Education (ED) in its administrative capacity. On May 24, ED solicited stakeholder input on various potential regulatory changes. The department has prioritized tackling issues of student loan payments and student loan forgiveness […]Learn More
  • The Most Important Infrastructure Number No One is Talking About May 25, 2021 — On May 13, 2021, the White House released recommendations for the creation of a geospatial Climate and Economic Justice Screening Tool that would help ensure that 40 percent of the benefits of investments in climate and clean infrastructure target disadvantaged communities. The tool, created as part of the Biden administration’s Justice40 […]Learn More
  • DarkSide Steps Into the Spotlight, and How Public Policy Is Likely To Change After the Pipeline Hack May 19, 2021 — America replayed the entire 1970s last week with a huge inflation print (4.2% YoY), armed conflict in Israel, and the astonishing sight of cars lined up in response to a gasoline shortage. The latter was a result of a system compromised by the “ransomware as a service” group DarkSide, a group of hackers […]Learn More
  • WA State’s Low Carbon Fuel Standard a Harbinger of Things to Come May 18, 2021 — The Washington State Legislature passed HB 1091, legislation implementing a Clean Fuel Standard, on April 25th. The state’s market-based program is modeled after California’s Low Carbon Fuel Standard (LCFS) and signals a growing trend we believe will spread to other states. Washington will likely become the third state to enact a […]Learn More
  • SEC Chair Gensler Signals Ambitious Market Structure Agenda, Eyes Gamification May 11, 2021 — On May 6th, the House Financial Services Committee (HFSC) held its third (and final) scheduled hearing in response to the GameStop (GME) saga from earlier this year. Democratic lawmakers used the hearing as an opportunity to introduce six draft bills – including those that would require the Securities and Exchange Commission […]Learn More
  • Dialysis Industry to Face Regulatory Scrutiny in 2021, Driven by Kidney-care Models, Medicare Advantage May 6, 2021 — Capstone believes kidney care—namely DaVita Inc. (DVA) and Fresenius Medical Care AG & Co. (FMS)—will come under regulatory scrutiny in 2021 due to the launch of recent value-based care models, an aging population, Medicare Advantage coverage extending to end-stage renal disease (ESRD) patients, and continued attention on consolidation in the dialysis […]Learn More
  • How Infrastructure Gets Done: Tax Reform & the Cost of Compromise May 3, 2021—What’s in a name? That which Democrats call infrastructure by any other name would prove as expensive without budgetary offsets. While Hunter Hammond and Grace Totman of our healthcare team expect Democrats will consider drug pricing and Medicare Advantage reforms to fund some of the smaller portions of any potential package, we expect Democrats will derive […]Learn More
  • Policy Momentum and Pitfalls of Europe’s Green Transport Revolution April 28, 2021 — Is the European “clean transport” industry ready for take-off or grounded in reality? And what role will policymakers play in developing sustainable aviation fuels, the clean shipping supply chain, and the nascent electric vehicle market? Last week Capstone hosted its inaugural virtual European Clean Transport Summit, during which we held a series of panel discussions, exclusively for clients, with European CEOs, distinguished policymakers, and industry executives covering the decarbonization […]Learn More