金吾财讯 | 中泰国际表示，国家医保局与财政部联合印发《关于做好医保基金预付工作的通知》，表示将做好医保基金预付工作，预付金将主要用于药品和医用耗材采购等医疗费用周转支出。政府表示设立医保预付金的目的为缓解定点医疗机构垫支费用的压力，以便为参保群众提供更优质的医疗保障。目前医保基金对民营医疗机构多数采取结算制，即当月发生的费用在次月才能结算，这也是当前很多民营医疗机构资金不足的原因之一，该行认为医保预付金制度的建立有助缓解民营医院的资金压力。该行提到，海吉亚医疗(06078)旗下医院的经营环境有望逐步回暖，预计政策落实后旗下医院的经营环境有望逐步回暖。虽然如此，该行中报后下调评级的主因之一是忧虑医保控费对旗下医院经营的影响，目前政府已开始着手解决问题，预计医保控费带来的资金瓶颈将逐步舒缓，公司旗下的医院也有望逐渐度过困难期。该行将目标市盈率从11倍2025EPER上调至13.5倍2025EPER（过去1年历史均值15.0倍），目标价从18.60港元上调至22.30港元，评级从“中性”上调至“买入”。
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