The 70th Fortune 500 ranks the largest corporations in the U.S. by revenue for the 2023 fiscal year.
Key healthcare takeaways from the most recent listing from Fortune:
1. The list includes 13 companies specializing in medical facilities. Of those, Nashville, Tenn.-based HCA Healthcare reigns, holding the 61st spot overall — compared to 66th last year — with $64.96 billion in revenue, up 7.9% year over year.
2. The list includes seven health insurance and managed care companies. UnitedHealth Group comes out on top in this group, landing fourth in the Fortune 500 rankings overall — one spot higher than last year — with $371.62 billion in revenue, up 14.6% year over year.
3. Twelve pharmaceutical and health service companies are ranked, with CVS Health in the top spot of this group. It ranked sixth in the Fortune 500 overall with $357.77 billion in revenue, up 10.9% year over year.
4. For reference, Walmart holds the No. 1 spot in the Fortune 500 overall, with revenue of $648.12 billion, up 6% year over year. Amazon is No. 2 with $574.78 billion in revenue, up 11.8% year over year and Apple is No. 3 with $383.28 billion in revenue, down 2.8% year over year.
Here are the top 25 ranked healthcare companies with their revenue and percent change to annual revenue:
1. UnitedHealth Group (No. 4 on Fortune 500)
2023 revenue: $371.62 billion
Change to revenue: 14.6%
2. CVS Health (No. 6 on Fortune 500)
2023 revenue: $357.77 billion
Change to revenue: 10.9%
3. McKesson (No. 9 on Fortune 500)
2023 revenue: $276.71 billion
Change to revenue: 4.8%
4. Cencora (No. 10 on Fortune 500)
2023 revenue: $262.17 billion
Change to revenue: 9.9%
5. Cardinal Health (No. 14 on Fortune 500)
2023 revenue: $204.01 billion
Change to revenue: 13%
6. Cigna Group (No. 16 on Fortune 500)
2023 revenue: $195.26 billion
Change to revenue: 8.2%
7. Elevance Health (No. 20 on Fortune 500)
2023 revenue: $171.34 billion
Change to revenue: 9.4%
8. Centene (No. 22 on Fortune 500)
2023 revenue: $153.99 billion
Change to revenue: 6.5%
9. Humana (No. 38 on Fortune 500)
2023 revenue: $106.37 billion
Change to revenue: 14.5%
10. Johnson & Johnson (No. 42 on Fortune 500)
2023 revenue: $95.19 billion
Change to revenue: 0.3%
11. HCA Healthcare (No. 61 on Fortune 500)
2023 revenue: $64.96 billion
Change to revenue: 7.9%
12. Merck (No. 67 on Fortune 500)
2023 revenue: $60.11 billion
Change to revenue: 1.4%
13. Pfizer (No. 69 on Fortune 500)
2023 revenue: $58.49 billion
Change to revenue: -41.7%
14. Abbvie (No. 77 on Fortune 500)
2023 revenue: $54.31 billion
Change to revenue: -6.4%
15. Bristol-Myers Squibb (No. 98 on Fortune 500)
2023 revenue: $44 billion
Change to revenue: -2.5%
16. Abbott Laboratories (No. 108 on Fortune 500)
2023 revenue: $40.10 billion
Change to revenue: -8.1%
17. Eli Lilly (No. 127 on Fortune 500)
2023 revenue: $34.12 billion
Change to revenue: 19.6%
18. Molina Healthcare (No. 128 on Fortune 500)
2023 revenue: $34.07 billion
Change to revenue: 6.6%
19. Amgen (No. 151 on Fortune 500)
2023 revenue: $28.19 billion
Change to revenue: 7.1%
20. Danaher (No. 153 on Fortune 500)
2023 revenue: $27.60 billion
Change to revenue: -12.3%
21. Gilead Sciences (No. 154 on Fortune 500)
2023 revenue: $27.11 billion
Change to revenue: -0.6%
22. Tenet Healthcare (No. 195 on Fortune 500)
2023 revenue: $20.54 billion
Change to revenue: 7.2%
23. Stryker (No. 197 on Fortune 500)
2023 revenue: $20.49 billion
Change to revenue: 11.1%
24. GE HealthCare Technologies (No. 206 on Fortune 500)
2023 revenue: $19.55 billion
Change to revenue: n/a, spun off from General Electric in 2023
25. Becton Dickinson (No. 211 on Fortune 500)
2023 revenue: $19.37 billion
Change to revenue: 0.2%