In this episode of Driving the Deal, Brian Fortune, Senior Managing Director at Farragut Square Group, sits down with Rebecca Springer, Director of Market Development at Bailey & Company, to discuss the rapid rise of Individual Coverage Health Reimbursement Arrangements (ICHRAs).

They break down how ICHRAs work, why adoption is accelerating across employers of all sizes, and what the model means for healthcare costs, employee choice, and benefits strategy. The conversation also explores the expanding ICHRA ecosystem, including administrators, brokers, carriers, and HR platforms, and why the space is increasingly on the radar of private equity investors. Finally, Rebecca provides an update on recent policy and market developments, including ACA subsidy changes, state-level activity, and what these shifts could mean for ICHRA growth in the year ahead.

This podcast was recorded and is for informational purposes only. By accessing this podcast, you acknowledge that Bailey & Co. makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of Bailey & Co. This podcast should not be used as a substitute for competent investment advice from a licensed professional in your state and should not be construed as an offer to make or consider any investment or course of action.

In this episode of Driving the Deal, Brian Fortune, Senior Managing Director at Farragut Square Group, welcomes David W. Johnson, CEO of 4sight Health and co-author of The Coming Healthcare Revolution: 10 Forces That Will Cure America's Health Crisis. Together, they discuss the ideas behind the book and why the U.S. healthcare system is approaching a period of unprecedented change.

Johnson breaks down the major forces reshaping healthcare, from demographics and chronic disease to AI, synthetic biology, and pro-consumer reforms, and explains why the next decade may bring more disruption than the last century. The conversation explores care redesign, cost pressures on hospitals, pricing transparency, and what it will take to build a healthcare system that delivers better outcomes, lower costs, and a better patient experience.

As the Driving the Deal kicks off the new year, Brian Fortune, Senior Managing Director at Farragut Square Group, is joined by Vikram Sithian, Managing Director and Head of Healthcare Financial Sponsors Coverage at Cantor. They offer a look back at the key dynamics that shaped the 2025 healthcare deal market while setting the stage for what's ahead in 2026. They discuss the most active healthcare services and HCIT subsectors, shifts in valuation multiples, real-world AI use cases, evolving financing structures, and EBITDA size dynamics. The conversation also explores what sponsors should be preparing for as monetizations and exits come back into focus in the year ahead. This episode is a must listen as the new year begins!

On this episode of Driving the Deal, Brian Fortune, Senior Managing Director at Farragut Square Group, is joined by colleague and Assistant Vice President, Holly Stokes, an expert in health policy, for a deep dive into the CY 2026 Physician Fee Schedule. In this episode, Brian and Holly break down the latest updates from CMS, highlighting how the finalized 2026 varies very little from the proposed rule, compares to previous years, and their potential impact on healthcare providers. From winners and losers under the new reimbursement structure to the future of primary care allocations and hot topics like skin substitutes and practice expense adjustments, the conversation offers clear, insightful analysis on what healthcare stakeholders need to know heading into 2026.

On this episode of Driving the Deal, Brian Fortune, Senior Managing Director at Farragut Square Group, is joined by Sharon Lamb, Head of McDermott's UK Healthcare Practice Group. They unpack key themes from McDermott's HPE Europe 2025 and explore the event's biggest takeaways from shifting global policies on drug pricing and the boom in Chinese biotech, to AI's growing role in R&D, supply chain dynamics, and the renewed investor focus on healthcare services heading into 2026.

As they look ahead to the Jefferies Global Healthcare Conference in London next week, the conversation offers an insider's view on how policy, innovation, and capital are converging to redefine the future of healthcare investment.

On this episode of Driving the Deal, Brian Fortune, Senior Managing Director at Farragut Square Group, is joined by Ben Wanamaker, Operating Partner at General Atlantic to discuss how the One Big Beautiful Bill Act (OBBBA) is reshaping the Medicaid landscape. Ben breaks down OBBBA's major provisions like work requirements, redeterminations, provider tax reductions, and cost-sharing rules and their implications for enrollment, member engagement, and provider payments.

The conversation also explores:

- How value-based care remains central to Medicaid innovation.

- The importance of adaptability in a highly regulated, state-driven environment.

- Why innovation and data analytics are critical for staying competitive.

- The deal market outlook for Medicaid-focused providers and investors amid policy uncertainty.

On this episode of Driving the Deal, Brian Fortune, Senior Managing Director at Farragut Square Group, is joined by Cary Gibson, founder of Gibson Health Policy and longtime Washington policy expert, to unpack the latest developments shaping the pharmaceutical landscape. From the Trump administration's push to lower drug prices and the revival of "most favored nation" pricing concepts, to state-level prescription drug boards and 340B reform debates, Cary offers sharp insights on where the pressure points are and what's next for the industry.

This special series of the Governing Health podcast with SullivanCotter highlights developments in and offers support to the board's executive compensation committee in light of the many complex operational, technical, and strategic issues that the committee confronts.

In this episode, Michael Peregrine, Bruce Greenblatt, Kathy Hastings, John Collins, Kerrin Slattery, and Jeff Holdvogt discuss why innovative compensation incentives are a hot topic for health systems clients and their compensation committees.

On this episode of Driving the Deal, Brian Fortune, Senior Managing Director at Farragut Square Group, is joined by Monica Wallace, Partner at McDermott Will & Schulte and a leader of the firm's Healthcare Regulatory & Compliance practice. Monica breaks down the rise in government healthcare audits, the use of extrapolated overpayments, and how providers can prepare. Together, they discuss avoiding overproduction of documents, getting legal and billing experts involved early, and acting quickly on audit letters to protect appeal rights. The episode also covers how audit history impacts M&A deals and why compliance readiness is more important than ever.

On this episode of Driving the Deal, Brian Fortune, Senior Managing Director at Farragut Square Group, is joined by Matt Menendez, President of White Plume Technologies, to explore how AI is reshaping mid-revenue cycle management. They dive into trends in the PPM space, the rising importance of operational efficiency, and how AI is empowering coders with "superpowers" rather than replacing them. From silent revenue failures to front-end automation, learn how AI is driving real EBITDA gains per provider and what to expect in the years ahead.