Most health systems saw revenues grow in 2023 as patient volumes rebounded and provider productivity increased. However, expenses continued to grow at a rapid rate, outpacing revenue for many systems.
Health systems' first- and second-quarter financials reflect a stronger 2024, though the the gap between high- and lower-performing hospitals continues to widen, according to Kaufman Hall.
Here are 53 health systems ranked by their annual revenue:
Note: This is not an exhaustive list. The following financial results are for the 12 months ending Dec. 31, 2023, unless otherwise stated.
1. Kaiser Permanente (Oakland, Calif.): $100.8 billion
2. HCA Healthcare (Nashville, Tenn.): $65 billion
3. CommonSpirit (Chicago): $34.5 billion
*Results for the 12 months ending June 30, 2023
4. Advocate Health (Charlotte, N.C.): $31.7 billion
5. Ascension (St. Louis): $28.4 billion
*Results for the 12 months ending June 30, 2023
6. UPMC (Pittsburgh): $27.7 billion
7. Providence (Renton, Wash.): $28.7 billion
8. Trinity Health (Livonia, Mich.): $21.6 billion
*Results for the 12 months ended June 30, 2023
9. Tenet Healthcare (Dallas): $20.6 billion
10. Mass General Brigham (Boston): $18.8 billion
*Results for the 12 months ended Sept. 30, 2023
11. Mayo Clinic (Rochester, Minn): $17.9 billion
12. Intermountain Health (Salt Lake City): $16.1 billion
13. Sutter Health (Sacramento, Calif.): $16.1 billion
14. Cleveland Clinic: $14.5 billion
15. Universal Health Services (King of Prussia, Pa.): $14.3 billion
16. Banner Health (Phoenix): $14.1 billion
17. Baylor Scott & White (Dallas): $13.9 billion
*Results for the 12 months ending June 30, 2023
18. Community Health Systems (Franklin, Tenn.): $12.5 billion
19. NewYork-Presbyterian Health (New York City): $12.4 billion
20. Bon Secours Mercy Health (Cincinnati): $12.2 billion
21. SSM Health (St. Louis): $10.5 billion
22. Northwestern Medicine (Chicago): $8.7 billion
*Results for the 12 months ending Aug. 31, 2023
23. IU Health (Indianapolis): $8.6 billion
24. Novant Health (Winston-Salem, N.C.): $8.3 billion
25. NYU Langone (New York City): $8.3 billion
*Results for the 12 months ending Aug. 31, 2023
26. Mercy Health (St. Louis): $8 billion
*Results for the 12 months ending June 30, 2023
27. Stanford Health Care (Palo Alto, Calif.): $7.9 billion
*Results for the 12 months ending Aug. 31
28. Christus Health (Irving, Texas): $7.8 billion
*Results for the 12 months ending June 30, 2023
29. MedStar Health (Columbia, Md.): $7.7 billion
*Results for the 12 months ending June 30, 2023
30. Henry Ford Health (Detroit): $7.8 billion
31. Geisinger (Danville, Pa.): $7.7 billion
32. Beth Israel Lahey Health (Cambridge, Mass.): $7.7 billion
*Results for the 12 months ending Sept. 30, 2023
33. Sanford Health (Sioux Falls, S.D.): $7.2 billion
34. Montefiore (New York City): $7.7 billion
35. UCHealth (Aurora, Colo.): $6.9 billion
*Results for the 12 months ending June 30, 2023
36. BJC HealthCare (St. Louis): $6.9 billion
37. Orlando (Fla.) Health: $6.1 billion
*Results for the 12 months ending Sept. 30, 2023
38. Prisma Health (Greenville, S.C.): $6 billion
*Results for the 12 months ending Sept. 30, 2023
39. Inova Health System (Falls Church, Va.): $5.7 billion
40. Presbyterian Healthcare Services (Albuquerque, N.M.): $5.6 billion
41. Allina Health (Minneapolis): $5.2 billion
42. UnityPoint Health (West Des Moines, Iowa): $4.8 billion
43. Allegheny Health Network (Pittsburgh): $4.7 billion
44. Sharp HealthCare (San Diego): $4.7 billion
*Results for the 12 months ending Sept. 30, 2023
45. Scripps Health (San Diego): $4.3 billion
*Results for the 12 months ending Sept. 30, 2023
46. OSF HealthCare (Peoria, Ill.): $4.1 billion
*Results for the 12 months ending Sept. 30, 2023
47. Norton Healthcare (Louisville, Ky.): $4 billion
48. ProMedica (Toledo, Ohio): $3.3 billion
49. HonorHealth (Scottsdale, Ariz.): $3.1 billion
50. Parkview Health System (Pueblo, Colo.): $2.8 billion
51. Cone Health (Greensboro, N.C.): $2.8 billion
*Results for the 12 months ending September 30, 2023
52. Tufts Medicine (Boston): $2.6 billion
*Results for the 12 months ending Sept. 30, 2023
53. Premier Health (Dayton, Ohio): $2.3 billion