UHS · 10-Q · 2026Q3

UNIVERSAL HEALTH SERVICES INC

Filed 2026-11-06 · Healthcare · View original filing on EDGAR

Everything UHS's SEC filings said, ranked

Ranked Events

• Medicaid Supplemental PaymentsImportance 76 · Surprise 56
  For the nine months ended September 30, 2026, total supplemental Medicaid program revenues were $2.334 billion and aggregate net benefit was $1.584 billion, compared with $1.766 billion in revenues and $1.211 billion…
• 340B OPPS Payment ChangesImportance 71 · Surprise 82
  CMS’s remedy for the 2018–2022 340B payment policy requires a $7.8 billion budget-neutrality adjustment through lower future OPPS payments. CMS began reducing the OPPS conversion factor by 0.5% in calendar year 2026,…
• Debt Refinancing and LiquidityImportance 70 · Surprise 58
  At September 30, 2026, UHS had approximately $5.7 billion of debt carrying value, up from $4.8 billion at December 31, 2025, and debt equaled approximately 43% of total capitalization, versus 40%. The company issued…
• Capital Expenditure ProgramImportance 57 · Surprise 6
  Capital expenditures were $660 million in the first nine months of 2026, including costs for the Florida acute care hospital completed and opened in the second quarter and equipment, renovations and new projects at…
• OBBBA Medicaid Payment ReductionsImportance 47 · Surprise 60
  The One Big Beautiful Bill Act (OBBBA), enacted July 4, 2025, phases down Medicaid state-directed payments (SDPs) and reduces provider-tax limits in expansion states; beginning with 2028 state fiscal years,…
• Talkspace AcquisitionImportance 47 · Surprise 60
  UHS acquired Talkspace, Inc., a virtual behavioral healthcare company, during the third quarter of 2026. The acquisition, together with 39 residential and community homes and two day-services facilities acquired in…
• Capital Return ProgramImportance 44 · Surprise 22
  UHS spent $730 million on Class B common stock repurchases in the first nine months of 2026, including $690 million of open-market purchases under its stock repurchase program and $40 million of tax withholding related…
• Medicare OPPS and IPO ChangesImportance 43 · Surprise 32
  CMS’s November 2026 OPPS final rule sets a 3.2% hospital market-basket increase and a 0.9% productivity reduction for a 2.3% net update; after other adjustments and patient mix, UHS estimates an 8.9% overall Medicare…
• ACA Subsidy ExpirationImportance 40 · Surprise 42
  Enhanced federal subsidies for health-insurance exchange coverage, extended through 2025 by the Inflation Reduction Act, expired on December 31, 2025. The filing says it is unclear which parts of the Affordable Care…
• Labor Inflation and Staffing StandardsImportance 40 · Surprise 42
  California implemented staffing standards for acute psychiatric hospitals effective June 1, 2026, including requirements to determine staffing based on patient acuity and care needs. UHS says the standards have…
• Interest Expense TrendsImportance 40 · Surprise 56
  Net interest expense rose 46% year over year to $56.277 million in the third quarter of 2026, from $38.431 million, and increased 17% to $133.322 million for the first nine months, from $113.851 million. Third-quarter…
• Psych PPS Payment UpdateImportance 37 · Surprise 32
  CMS’s July 2026 Psych PPS final rule estimates a 2.3% market-basket-related payment increase for behavioral health hospitals and units in federal fiscal year 2027 versus FY 2026. After final patient-level adjustments…
• Medicare IPPS Payment UpdateImportance 37 · Surprise 32
  CMS's 2027 IPPS final rule provides a 3.2% base MS-DRG market-basket increase, but UHS estimates its overall IPPS payment increase at approximately 0.1% after DSH and other adjustments. UHS estimates a 2.0% increase in…
• Interest Rate and Refinancing ExposureImportance 36 · Surprise 40
  Average borrowings under UHS’s revolving credit, term loan A, delayed draw term loan A, and senior notes increased to $5.14 billion in third-quarter 2026 from $4.46 billion a year earlier, while the average effective…
• Medicaid DSH ReductionsImportance 35 · Surprise 24
  Federal Medicaid disproportionate share hospital (DSH) allotments are scheduled for an aggregate reduction of $8 billion in federal fiscal year 2028. The filing notes that the ACA requirement was amended by subsequent…
• Surprise Billing RegulationImportance 35 · Surprise 42
  The No Surprises Act’s federal independent dispute resolution (IDR) process has faced provider-initiated litigation, with courts vacating portions of CMS rules and guidance and prompting pauses and resumptions that…
• Operating Cash Flow TrendsImportance 35 · Surprise 22
  Net cash provided by operating activities increased $192 million, or about 15%, to $1.481 billion in the first nine months of 2026 from $1.290 billion in the comparable 2025 period. Favorable changes included $178…
• Commercial Insurer MembershipImportance 35 · Surprise 48
  The company reported increased membership in its commercial health insurer, which drove growth in the insurer’s operating costs, consisting primarily of medical costs. Those costs rose 23.1%, or $40 million, in the…
• California Medicaid Rate MethodologyImportance 33 · Surprise 24
  California adopted a new reimbursement method for inpatient psychiatric services under its Medicaid prepaid inpatient health plan program, effective December 12, 2023, incorporating a cost-based ceiling on negotiated…
• Behavioral Health Demand TrendsImportance 31 · Surprise 32
  Same Facility behavioral health revenues grew 4.0% in the third quarter and 6.2% in the first nine months of 2026. Third-quarter inpatient admissions rose 2.6%, adjusted admissions 2.5%, and patient days 2.1%;…

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