Which ASX healthcare stocks should you buy today?

Australia's healthcare sector is on the verge of a boom. Will Medibank Private Ltd (ASX:MPL) or Healthscope Ltd (ASX:HSO) be amongst the best companies to profit?

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As if it wasn't clear enough already, a recent shake-up of Australia's indices showed that the mining boom has drawn to a conclusion while the healthcare boom could just be beginning.

In the S&P Dow Jones Indices quarterly rebalance, which will take effect from 20 March, several healthcare stocks were rewarded with index inclusions at the expense of numerous miners and mining services companies which are struggling in the wake of the commodities downturn.

Of the healthcare stocks, Medibank Private Ltd (ASX: MPL) was the most notable inclusion in the rebalance. The insurer, which listed to the tune of $5.7 billion in November last year, will join the top-50 index as well as the ASX 100 and the benchmark S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO). Also joining the ASX 200 will be Estia Health Ltd (ASX: EHE) and Regis Healthcare Ltd (ASX: REG), while Healthscope Ltd (ASX: HSO) joined the ASX 100 in December.

Although substantial gains have already been made from the industry in recent years, every serious long-term investor should consider gaining exposure to Australia's booming healthcare sector. Not only are Australians trending towards private healthcare, our population is also ageing at a rapid clip which will drive demand over the coming years and decades.

Which healthcare stocks should you buy?

Right now, Medibank Private seems like the hot favourite amongst investors, although its shares are trading at a high premium, making it somewhat unappealing. Instead, investors should look at recently-listed companies like Regis Healthcare and Japara Healthcare Ltd (ASX: JHC), which both operate aged care facilities across Australia.

Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned. You can follow Ryan on Twitter @ASXvalueinvest.

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