Here are eight 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. Berkshire Health has an "AA-" rating and stable outlook with Fitch. The Pittsfield, Mass.-based system has a strong financial profile, solid liquidity and modest leverage, according to Fitch.
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. Harris Health System has an "AA" rating and stable outlook with Fitch. The Houston-based system has a "very strong" revenue defensibility, primarily based on the district's significant taxing margin that provides support for operations and debt service, Fitch said.
4. 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.
5. Orlando (Fla.) Health has an "AA-" and stable outlook with Fitch. The system's upgrade from "A+" reflects the continued strength of the health system's operating performance, growth in unrestricted liquidity and excellent market position in a demographically favorable market, Fitch said.
6. Salem (Ore.) Health has an "AA-" rating and stable outlook with Fitch. The system has a "very strong" financial profile and a leading market share position, Fitch said.
7. 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.
8. Willis-Knighton Health System has an "AA-" rating and stable outlook with Fitch. The Shreveport, La.-based system has a "dominant inpatient market position" and is well positioned to manage operating pressures, Fitch said.