医药生物行业：医保基金预付政策实施，关注医药行业个股机会

Investment Rating - The industry rating is maintained at "Overweight" [2] Core Insights - The implementation of the medical insurance fund prepayment policy is expected to significantly alleviate cash flow pressure on medical institutions, enhancing operational management and ensuring continuity of medical services [1][2] - The prepayment system will promote timely payments from medical institutions to pharmaceutical companies, accelerating cash recovery for drug manufacturers and supporting the stable development of the pharmaceutical industry [1][2] - The policy aims to improve the quality of medical services and promote innovation in medical technology by encouraging more funds to be allocated to research and development [1] Summary by Sections Event Overview - The National Medical Insurance Bureau and the Ministry of Finance have jointly issued a notice to implement a prepayment system for medical insurance funds nationwide, aimed at alleviating the financial burden on designated medical institutions [1] Investment Highlights - The prepayment system is defined as funds provided by the medical insurance department to medical institutions for the procurement of drugs and medical supplies, which will not be used for non-medical expenses [1] - The policy includes clear application conditions, approval standards, and supervision processes to ensure transparency in fund allocation [1] - The implementation of this policy is expected to enhance cash flow for hospitals and related pharmaceutical businesses, improving service quality and expansion capabilities [1][2] Investment Recommendations - The report suggests focusing on companies such as Haijia Medical, International Medicine, Aier Eye Hospital, and others in the medical service sector, as well as pharmaceutical companies like Heng Rui Medicine and Kangfang Biotech [1][2]