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Universal Health Services CEO Alan Miller on why the health-care law would benefit hospitals.
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What is at stake for investors.
Banking -- say for example the hospital sector something they have that in some of your mutual fund your 41 K.
Joining me now in a Fox Business it's both -- -- Philadelphia's Allen Miller he's the chairman and CEO.
Of Universal Health Services which in essence manages hospitals ambulatory centers and health care facilities good to have you sir thank you for being here.
Good to be here.
Well as I understand it you do not want this part of that struck down you believe the people should be required to buy insurance and -- tell me why why.
We just the payoff for that where does it say -- -- money down the line.
No I'm not a lawyer I don't know whether they should be required or not.
But if the law is that people.
Are required that would bring 31 million people who are not currently insured.
Into the the market.
That would be good for us on -- great for you know -- certainly.
It would be good in the short -- absolutely and we'd like to see that happen on the other hand if it doesn't happen.
We follow the law.
We are in a fundamental business we take care of sick people.
Sick people -- will continue whether the Supreme Court rules or not and they'll -- hospitals and and we have been there for 34 years and we intend to be there for a long time in the future.
Alan my my dad was a surgeon and he taught at UCLA medical school -- of friends at USC and USC medical.
Was a place where a lot of the indigent which show up.
At their worst point where -- they had diabetes they had feet fallen I was just it was just awful and that of course.
Require treatment which doctors and the hospital -- gave but it cost taxpayers a fortune.
I -- talk about what you experienced some of your hospitals.
Well of course shareholders of fortune as well because.
We are obligated -- UN you're dead no.
If people present themselves not conditioned to the hospital we have to treat them which we do.
And so we don't have bed -- bad debt burden and this would alleviate part of that burden because there'd be more insurance.
But on the other hand if this doesn't go through.
Then there are other provisions that can be worked.
You know two and a half million people have been covered.
Under their parents'.
Policies Bryant.
26 year old so there's a lot of ways to go about -- And that's the -- -- -- -- -- to increase access is the mandate but if that's not constitutional.
We'll deal with an otherwise.
You'll figure it out which is what American businesses do up since the health care law was so why do you guys are up about 24%.
For your stock although down 7% over the past year.
Again I'd like you because you're really looking at a purely from a business standpoint -- figure out -- -- in fact I was looking that's what some of the analysts were saying about -- if it doesn't hold.
-- come out slightly negative to neutral if it does hold you get all the new people who were insured on there but India and that's it how closely correlated our hospital visits to things like unemployment because.
And people start breaking pills in half because they want to stretch them -- save them or they simply don't go to the hospital -- you seen any of your.
-- -- you're exactly right well I think that other than having a very robust psychiatric division.
And that business has been very strong in in in general acute care hospitals across the country.
-- without employment.
People don't have coverage people don't want to leave jobs if they do have a job.
-- so you have a moderating situation.
In hospitals and that picks up.
When the economy picks up.
Employment picks up but we'll see all of wall wonderful off rules that we've built and that we've equipped they'll be robust.
Very strong.
Alan Miller thank you very much for giving us perspective thank you so much.
You're welcome Alan as the chairman and CEO of Universal Health Services ticker symbol UHS.
