Could you dig a little bit deeper into there? What are some of those big headwinds that you're keeping your eye on? And how are you preparing for them? What does that look like?

Well, so I think probably the industry is really anticipating January of 2027.

That is when many of the changes that are afoot that come by virtue of HR1, the passage of the big piece of tax legislation.

We know that the cuts to Medi-Cal in California will be significant.

The cuts to Medicaid across the country will be likewise significant there.

And I think to put it in lay terms, people who have insurance and coverage today, those in some cases and in many cases will not have insurance coverage as it relates to when January comes along here.

I think we've got our eyes on what's going on in the evolving space of 340B pharmacy, recognizing kind of its initial gestalt of being able to create access for hospitals to provide to get to pharmaceuticals that are needed by their patients, needed by their community.

I'm curious when you're looking at the financial sustainability of hospitals and health systems going forward, what does that look like? How are you rethinking the strategy, whether it's on some of the operations or care side and what can we expect to see from Cedars-Sinai when you think about growth in the future as well?

Could you dig a little bit deeper into there? What are some of those big headwinds that you're keeping your eye on? And how are you preparing for them? What does that look like?

Well, so I think probably the industry is really anticipating January of 2027.

That is when many of the changes that are afoot that come by virtue of HR1, the passage of the big piece of tax legislation.

We know that the cuts to Medi-Cal in California will be significant.

The cuts to Medicaid across the country will be likewise significant there.

And I think to put it in lay terms, people who have insurance and coverage today, those in some cases and in many cases will not have insurance coverage as it relates to when January comes along here.

I think we've got our eyes on what's going on in the evolving space of 340B pharmacy, recognizing kind of its initial gestalt of being able to create access for hospitals to provide to get to pharmaceuticals that are needed by their patients, needed by their community.

I'm curious when you're looking at the financial sustainability of hospitals and health systems going forward, what does that look like? How are you rethinking the strategy, whether it's on some of the operations or care side and what can we expect to see from Cedars-Sinai when you think about growth in the future as well?