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That's a nice theory. The stock prices of many of these companies seems to disagree.

They aren't performing some tragic triage in the service of preventing the healthcare system from total collapse, they're making money. Lots of it. Directly from vulnerable peoples' needless deaths.

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These companies have very low profit margins (as a fraction of cash flowing through them). They have strong incentive to keep costs down. What does stock price have to do with this? A high stock price can just mean there's relatively few outstanding shares (you probably mean market cap). The largest health insurer in the US has a share of just 16% so the market is highly competitive.

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