'the call' notes : CLICK HERE TO WATCH THE VIDEO SEGMENT
Consumer Through Line to RDNT: Our RDNT (Short) presentation is at 12:30 PM ET today. As we worked through the idea we were on the lookout for links between consumers and radiology which we found in the Household Spending Survey from the Fed. The survey might explain the slowdown we are seeing in our radiology tracking data which includes cellphone co-location data, medical claims, and Health Care Macro. Two key callouts from the Household Spending Survey are weakness in younger cohorts and higher income cohorts which lines up with RDNT's high mix of commercial insurance at 62% in 2022 and that commercially insured population is working age.
COVID Case Comeback: The news flow on COVID cases has been picking up and vaccine manufacturers have been rallying. We are not seeing much of a signal in the data yet.
Rates Back Up & Quad 3 Risks: We've been highlighting the impact of a higher inflation and higher yield environment given the ongoing GDP growth headwinds. Higher yields increase the probability for Macro Quad 3, by far the worst performing macro for Health Care stocks.
