Analysts at Jefferies have forecasted muted earnings for Australian healthcare companies (ASX:AXHJ) following the reporting season.

According to the brokerage, there’s a low organic growth for healthcare services due to sluggish general practitioner attendances.

Jefferies noted a persistent decline in GP, which is driving declines in downstream base business pathology and private hospital services.

It further stated that this decline is triggering lower-than-expected non-surgical insurance claims.

The brokerage also highlighted that cost inflation continues to dent healthcare companies, with no expected ease in the near term.

Despite this, the healthcare sub-index has remained flat year-to-date, based on the last closing, as compared to a 1.6% rise in the S&P/ASX 200 index.