Here are 12 health systems with strong operational metrics and solid financial positions, according to recent reports from Moody's Investors Service, Fitch Ratings and S&P Global Ratings.
Note: This is not an exhaustive list. Health system names were compiled from recent credit rating reports and are listed in alphabetical order.
1. St. Louis-based Ascension has an "Aa2" senior debt rating and stable outlook with Moody's. The health system has a large diversified portfolio of sizable hospitals and strong liquidity. Moody's expects Ascension's margins to improve in fiscal year 2019.
2. Wausau, Wis.-based Aspirus has an "AA-" rating and stable outlook with S&P. The health system has solid debt and liquidity metrics, according to S&P.
3. Morristown, N.J.-based Atlantic Health System has an "Aa3" rating and stable outlook with Moody's. The system has a strong market position, favorable balance sheet ratios and strong operating performance, according to Moody's.
4. Charlotte, N.C.-based Atrium Health has an "AA-" rating and stable outlook with S&P. The health system has a strong operating profile, favorable payer mix, healthy financial performance and sustained volume growth, according to S&P.
5. Durham, N.C.-based Duke University Health System has an "Aa2" rating and stable outlook with Moody's. The health system is a leading provider of tertiary and quaternary services and has solid margins and cash levels, according to Moody's.
6. Inova Health System has an "Aa2" rating and stable outlook with Moody's. The Falls Church, Va.-based health system has consistently strong cash-flow margins, a leading market position and a good investment position, according to Moody's.
7. Baltimore-based Johns Hopkins Health System has an "Aa2" rating and stable outlook with Moody's. The health system has favorable liquidity metrics, strong fundraising capabilities, a healthy market position and regional brand recognition, according to Moody's.
8. St. Louis-based Mercy Health has an "Aa3" rating and stable outlook with Moody's. The health system has favorable cash-flow metrics, a solid strategic growth plan, a broad service area and improving operating margins, according to Moody's.
9. Traverse City, Mich.-based Munson Healthcare has an "AA-" rating and positive outlook with Fitch. The health system has a leading market share in a favorable demographic area and a healthy net leverage position, according to Fitch.
10. Vancouver, Wash.-based PeaceHealth has an "AA-" rating and stable outlook with Fitch. The health system has a leading market position, robust reserves and strong cash flow, according to Fitch.
11. St. Louis-based SSM Health Care has an "AA-" rating and stable outlook with Fitch. SSM has a strong financial profile, and Fitch expects the system to continue growing unrestricted liquidity and to maintain improved operational performance.
12. Appleton, Wis.-based ThedaCare has an "AA-" rating and stable outlook with Fitch. The health system has a leading market share in a stable service area and strong operating performance, according to Fitch.
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