Four of the major for-profit hospital chains operate 342 acute care hospitals across the U.S. and reported more than $112 billion in revenue combined in 2023.
Here are 20 things to know about HCA Healthcare, Community Health Systems, Tenet Healthcare and Universal Health Services:
HCA Healthcare (Nashville, Tenn.)
1. HCA reported $65 billion in revenue in 2023, up 8% over the previous year.
2. Net income was $5.2 billion, down slightly from $5.6 billion in 2022.
3. HCA operates 186 hospitals and about 2,400 ambulatory care sites.
4. Sam Hazen was appointed CEO of HCA in January 2019 after serving as president and COO since 2016.
5. HCA was founded in 1968 by Thomas Frist Sr., MD, Thomas Frist Jr., MD, and Jack Massey. Dr. Frist Sr. built Park View Hospital in Nashville with a group of physicians. They wanted to manage and expand the hospital, eventually creating the hospital management company known as HCA.
Community Health Systems (Franklin, Tenn.)
6. CHS saw revenue increase 2.3% year over year to $12.5 billion in 2023.
7. Operating income hit $957 million in 2023, up from $821 million the prior year. Net income was $16 million, down from $179 million in 2022.
8. CHS operates 71 hospitals and more than 1,000 care sites.
9. Tim Hingtgen was named CEO of CHS in January 2021 after serving as president and COO from September 2016 through December 2020.
10. CHS was founded in 1985 when Thomas Chaney, former executive of Hospital Affiliates, Inc., and David Steffy and Richard Ragsdale, former HCA executives, spun off Republic Health Corp. to form Community Health Systems. The second hospital acquisition took place in January 1986.
11. Tenet reported $20.5 billion in revenue in 2023, up 7.2% the prior year.
12. Operating income hit $2.5 billion in 2023, up 12.2% year over year. Net income was $1.3 billion, compared to $1 billion in 2022.
13. Tenet operates 58 acute care and specialty hospitals and about 160 outpatient facilities.
14. Saum Sutaria, MD, was appointed CEO of Tenet in September 2021. He previously served as president and COO with responsibilities spanning the health system.
15. Tenet launched as a small operation in California. In 1969, it acquired four hospitals as well as other care sites and real estate for future hospital developments.
Universal Health Services (King of Prussia, Pa.)
16. Revenue increased 6.6% year over year to $14.3 billion in 2023.
17. Operating income in 2023 was $1.2 billion, up from $1 billion the previous year.
18. UHS operates 27 acute care hospitals, 333 inpatient behavioral health facilities, 48 outpatient facilities and ambulatory care access points and an insurance offering.
19. Marc Miller was named CEO of UHS in January 2021 and has served as president since 2009.
20. UHS was founded in 1979 by Alan B. Miller, who currently serves as the system's executive chair. Eighteen months later, UHS owned four hospitals and had management contracts with two others.