Marc Miller, CEO of King of Prussia, Pa.-based Universal Health Services, shared during a Nov. 18 CNBC interview that he is not concerned about changes to HHS after President-elect Donald Trump named Robert F. Kennedy Jr. secretary on Nov. 14.
Since the election, UHS's stock has fallen about 4%, with the rest of the health sector fallen at around 3.5%, Frank Holland, anchor, transports and tech correspondent at CNBC said during the interview.
"I think there's been an over reaction," Mr. Miller said regarding policies people could potentially be concerned about. "I think there has been some premise that the health insurers might do better under this new administration than the providers would. We don't necessarily ascribe to that."
Mr. Miller said that most of what RFK Jr. has discussed has had to do with things outside of provider services, and that UHS has had strong business this year, including demand for the health system's services, something that the system expects to continue.
"We don't think anything that would happen at HHS would necessarily affect that in the upcoming years," he said.
When Mr. Holland brought up the possibility of the Affordable Healthcare Act being changed or repealed, Mr. Miller said he does not think that will happen.
"We really don't believe this is something to worry about," Mr. Miller said. "We don't think that a Republican led Senate and House is interested in doing that right now. While there are certainly issues and people are talking about the possible HHS pick, Mr. Kennedy, we don't think that they're going to have the will or the desire really to go after ACA right now."
On the flip side, Mr. Miller said tailwinds for UHS could include an improved business and economic climate from the new administration.
"Anything that they can do to ease regulation, make it easier for businesses to work in a future climate would help us," he said. "We're excited about that possibility."