President Obama talked through the issues of health care reform on Thursday in a bipartisan summit. The unprecedented event comes as the president tries to get his reform plans back on track. Charles Boorady, health care providers analyst at Citigroup, discussed the summit and shared his investment strategies.
“What the country needs is real health care reform and the president laid out the case that the country could save 5 percent of GDP if we tied with France and Switzerland. That’s $700 billion less dollars a year we could spend on health care if we were to reform it and run it more efficiently,” Boorady told CNBC.
“Unfortunately, health care reform turned into insurance reform—which doesn’t save money,” he continued.
“It would cost another trillion over the next 10 years and that’s when the administration lost support of the American people and the Republican Party.”
Boorady told investors that he expects a modest, incremental reform in health care and said the sector should benefit as a result.
“Investors have been on the sidelines and they’ve been on a holding pattern until after this whole process is complete,” He said. “Specifically, health insurers have been beaten down the most.”
United Health Group
- Watch Boorady's Previous Appearance on CNBC (Nov. 23, 2009)
More Market Analysis:
- Fratto: The Real Health Reform Politics
- Thursday's Health Summit: Obama the Re-Animator?
CNBC Data Pages:
No immediate information was available for Boorady or his firm.