Here are 10 health systems with strong operational metrics and solid financial positions, according to reports from credit rating agencies Fitch Ratings and Moody's Investors Service.
Note: This is not an exhaustive list. Health system names were compiled from credit rating reports.
1. Ascension has an "AA+" rating and stable outlook with Fitch. The St. Louis-based system's rating is driven by multiple factors, including a strong financial profile assessment, national size and scale with a significant market presence in several key markets, which produce unique credit features not typically seen in the sector, Fitch said.
2. ChristianaCare has an "Aa2" rating and stable outlook with Moody's. The Newark, Del.-based system has a unique position with the state's largest teaching hospital and extensive clinical depth that affords strong regional and statewide market capture, and it is expected to return to near pre-pandemic level margins over the medium-term, Moody's said.
3. Dayton (Ohio) Children's Hospital has an "AA-" and stable outlook with Fitch. The rating reflects the hospital's very healthy liquidity position and sound operating performance despite pandemic-related expense pressures, Fitch said.
4. Hackensack Meridian Health has an "AA-" rating and stable outlook with Fitch. The Edison, N.J.-based health system has shown consistent year-over-year increases in market share and has a solid liquidity position, Fitch said.
5. Johns Hopkins Medicine has an "AA-" rating and stable outlook with Fitch. The Baltimore-based system has a strong financial role as a major provider in the central Maryland and Washington, D.C., market, supported by its excellent clinical reputation with a regional, national and international reach, Fitch said.
6. Parkview Health has an "Aa3" rating and stable outlook with Moody's. The Fort Wayne, Ind.-based system has a leading market position with expansive tertiary and quaternary clinical services in Northeastern Indiana and Northwestern Ohio, Moody's said.
7. Rady Children's Hospital has an "AA" rating and stable outlook with Fitch. The San Diego-based hospital has a very strong balance sheet position and operating performance and is also a leading provider of pediatric services in the growing city and tri-county service area, Fitch said.
8. Salem (Ore.) Health has a "AA-" rating and stable outlook with Fitch. The rating reflects a "very strong" financial profile and a leading market share position, Fitch said. The flagship Salem Hospital, a 567-bed facility, is the only hospital in the city of Salem.
9. ThedaCare has an "AA-" rating and stable outlook with Fitch. The Neenah, Wis.-based system has a focused strategy, strong financial profile and robust market share, Fitch said.
10. TriHealth has an "AA-" rating and stable outlook with Fitch. The rating reflects the Cincinnati-based system's strong financial and operating profiles, as well as its broad reach, high-acuity services and stable market position in a highly fragmented and competitive market, Fitch said.