Medicare
2 articles
- Medicare Site-Neutral Payment Is Repricing Medical Office Real Estate
Medicare site-neutral payment reform is segmenting medical office real estate by site of service. Provider revenue resets immediately, while rent adjusts at lease renewal. On-campus outpatient and ASC-anchored properties gain relative value; off-campus hospital infusion and imaging properties face weaker retention, renewal spreads, and wider cap rates.
- Interest Rate Transmission in High-Debt Regimes
The traditional interest rate transmission mechanism has structurally inverted in a high-debt regime. Rate hikes redistribute demand rather than compress it — sovereign interest expense flows to private Treasury holders, private legacy debt remains insulated by duration lock-ins, and the strain relocates to the term premium and the refinancing wall rather than disappearing. Fiscal-monetary interaction, collateral repricing, and state capacity now override private credit cycles.