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Illustration: Sarah Grillo/Axios

Soaring health care costs are bad news for patients and taxpayers, but great news for the very profitable health care industry.

The big picture: The sector has profited heavily in 2019. Expect more of the same in 2020.

  • Most health care companies are immune from the trade war, and Washington isn't about to impose any cost controls. And the industry will continue to benefit from the GOP tax cuts.

Hospitals' rush to issue new debt signals they will find ways to fill beds

Pharmaceutical companies will keep hiking the prices for popular treatments and fighting off cheaper competitors.

Insurers are benefiting from the rising popularity of private Medicare Advantage plans.

  • UnitedHealth, the largest health insurance company by revenue, just forecasted a very profitable 2020, in line with Wall Street's estimates.

Pharmacy benefit managers have faced challenges to their business models in states, but the biggest ones have insulated themselves by merging with insurance companies.

What to watch: Speaking of health care mergers, expect more of them, even after the spate of blockbuster deals over the past few years.

The bottom line: The health care industry's biggest threat is a Democratic administration focused on health care, but that's a long way away.

Go deeper:

Go deeper

Washington Post names AP's Sally Buzbee as executive editor

Photo: Andrew Harrer/Bloomberg via Getty Images

The Washington Post has named Associated Press executive editor Sally Buzbee as its new executive editor, effective June 1.

Why it matters: Buzbee replaces legendary editor Marty Baron, who retired at the end of February. She will be the first woman to lead The Post's newsroom in the paper's 144-year history.

Pipeline hack spotlights cyber risks to energy systems

Illustration: Aïda Amer/Axios

The ransomware attack against the Colonial Pipeline — the massive East Coast gasoline artery — is a stunning real-world example of the increasing risks that the energy sector faces from a cyberattack.

Why it matters: Different parts of the vast American energy system are vulnerable — from pipelines to power grids to individual power plants and plenty in between.

1 hour ago - Technology

Scoop: TikTok launching jobs service for Gen Z

Illustration: Aïda Amer/Axios

TikTok is testing a tool for brands to recruit employees, sources tell Axios.

Details: The pilot program is designed to help people find jobs on TikTok and connect with companies looking to find candidates. It's also meant to help brands use TikTok as a recruitment channel.