Revenue growth continued across the hospital industry in 2025, with many of the nation’s largest health systems posting mid- to high-single-digit gains fueled by stronger patient volumes, improved payment rates and the expansion of ambulatory and pharmacy operations.
But the gains were far from uniform. Some systems grew revenue by double digits through mergers, acquisitions and new payer arrangements, while others saw declines as they shed hospitals and restructured their portfolios.
Here are 105 health systems ranked by their most recent annual revenue:
Editor’s note: This is not an exhaustive list. To be included, please reach out to Alan Condon at acondon@beckershealthcare.com with your health system’s latest financial results. The following financial results are for the 12 months ending Dec. 31, 2025, unless otherwise stated.
1. Kaiser Permanente (Oakland, Calif.): $127.7 billion
2. HCA Healthcare (Nashville, Tenn.): $75.6 billion
3. CommonSpirit Health (Chicago): $40.1 billion
*Results for the 12 months ending June 30, 2025
4. Advocate Health (Charlotte, N.C.): $38.9 billion
5. UPMC (Pittsburgh): $33.6 billion
6. Providence (Renton, Wash.): $29.5 billion
7. University of California Health (Oakland): $25.9 billion
*Results for the 12 months ending June 30, 2025
8. Trinity Health (Livonia, Mich.): $25.4 billion
*Results for the 12 months ending June 30, 2025
9. Ascension (St. Louis): $25.3 billion
*Results for the 12 months ending June 30, 2025
10. AdventHealth (Altamonte Springs, Fla.): $23 billion
11. Mass General Brigham (Somerville, Mass.): $22.8 billion
*Results for the 12 months ending Sept. 30, 2025
12. Northwell Health (New Hyde Park, N.Y.): $22.6 billion
*Includes revenue from merger with Nuvance (Conn.) Health
13. Mayo Clinic (Rochester, Minn.): $21.5 billion
14. Tenet Healthcare (Dallas): $21.3 billion
15. UT Health System (Texas): $20.8 billion
*Results for the 12 months ending Aug. 31, 2025
16. Sutter Health (Sacramento, Calif.): $19.8 billion
17. Intermountain Health (Salt Lake City): $18.5 billion
18. Cleveland Clinic: $18.3 billion
19. Corewell Health (Southfield, Mich.): $17.6 billion
20. Universal Health Services (King of Prussia, Pa.): $17.4 billion
21. Baylor Scott & White Health (Dallas): $17.3 billion
*Results for the fiscal year ending June 30, 2025
22. Banner Health (Phoenix): $16 billion
23. NYC Health + Hospitals (New York City): $15.9 billion
24. Jefferson Health (Philadelphia): $15.8 billion
*Results for the fiscal year ending June 30, 2025
25. NYU Langone (New York City): $15.4 billion
26. Sentara Health (Norfolk, Va.): $14.2 billion
27. Bon Secours Mercy Health (Cincinnati): $14 billion
28. Henry Ford Health (Detroit): $13.1 billion
29. Mount Sinai Health System (New York City): $12.8 billion
30. SSM Health (St. Louis): $12.7 billion
31. Community Health Systems (Franklin, Tenn.): $12.5 billion
32. BJC Health System (St. Louis): $12.1 billion
33. Novant Health (Winston-Salem, N.C.): $11.9 billion
34. Sanford Health (Sioux Falls, S.D.): $11.7 billion
35. RWJBarnabas Health (West Orange, N.J.): $11 billion
36. Northwestern Medicine (Chicago): $10.6 billion
*Results for the 12 months ending Aug. 31, 2025
37. Mercy Health (Chesterfield, Mo.): $10.2 billion
*Results for the 12 months ending June,30, 2025
38. Orlando Health (Orlando, Fla.): $9.9 billion
*Results for the 12 months ending Sept. 30, 2025
39. Hackensack Meridian Health (Edison, N.J.): $9 billion
40. Christus Health (Irving, Texas): $9.7 billion
*Results for the 12 months ending June 30, 2025
41. Beth Israel Lahey Health (Cambridge, Mass.): $9.7 billion
*Results for the 12 months ending Sept. 30, 2025
42. Johns Hopkins Medicine (Baltimore): $9.6 billion
*Results for the 12 months ending June 30, 2025
43. Indiana University Health (Indianapolis): $9.5 billion
44. Stanford Health Care (Palo Alto, Calif.): $9.5 billion
*Results for the 12 months ending Aug. 31, 2025
45. MedStar Health (Columbia, Md.): $9 billion
*Results for the 12 months ending June 30, 2025
46. Montefiore (New York City): $8.8 billion
47. Piedmont Healthcare (Atlanta): $8.8 billion
*Results for the 12 months ending June. 30, 2025
48. University of Michigan Health (Ann Arbor): $8.7 billion
*Results for the 12 months ending June. 30, 2025
49. Cedars-Sinai (Los Angeles): $8.6 billion
*Results for the 12 months ending June. 30, 2025
50. Vanderbilt University Medical Center (Nashville, Tenn.): $8.5 billion
*Results for the 12 months ending June. 30, 2025
51. Yale New Haven (Conn.) Health: $7.6 billion
*Results for the 12 months ending Sept. 30, 2025
52. Prisma Health (Greenville, S.C.): $7.4 billion
*Results for the 12 months ending Sept. 30, 2025
53. Adventist Health (Roseville, Calif.): $7.4 billion
54. University Hospitals (Cleveland): $7.3 billion
55. Duke University Health System (Durham, N.C.): $7.2 billion
*Results for the 12 months ending June 30, 2025
56. MultiCare Health System (Tacoma, Wash.): $7.2 billion
57. BayCare Health System (Clearwater, Fla.): $7 billion
58. Hartford (Conn.) Healthcare: $7 billion
59. Froedtert ThedaCare Health (Menomonee Falls, Wis.): $7 billion
60. Baptist Health South Florida (Coral Gables, Fla.): $7 billion
61. OhioHealth (Columbus): $7 billion
62. Presbyterian Healthcare Services (Albuquerque, N.M.): $6.8 billion
63. Inova Health System (Falls Church, Va.): $6.5 billion
64. Ardent Health (Brentwood, Tenn.): $6.3 billion
65. Allina Health (Minneapolis): $6 billion
66. Allegheny Health Network (Pittsburgh): $5.7 billion
67. Sharp HealthCare (San Diego): $5.5 billion
*Results for the 12 months ending Sept. 30, 2025
68. University of Kansas Health System (Kansas City): $5.4 billion
*Results for the 12 months ending June 30, 2025
69. Oregon Health & Science University (Portland): $5.4 billion
*Results for the 12 months ending June 30, 2025
70. Baptist Health (Louisville, Ky.): $5.2 billion
*Results for the 12 months ending Aug. 31, 2025
71. University of Chicago Health System: $5.2 billion
*Results for the 12 months ending June 30, 2025
72. OSF HealthCare (Peoria, Ill.): $5.1 billion
*Results for the 12 months ending Sept. 30, 2025
73. Norton Healthcare (Louisville, Ky.): $5 billion
74. Scripps Health (San Diego): $4.8 billion
*Results for the 12 months ending Sept. 30, 2025
75. St. Luke’s University Health Network (Bethlehem, Pa.): $4.6 billion
76. Penn State Health (Hershey, Pa.): $4.5 billion
*Results for the 12 months ending June 30, 2025
77. HonorHealth (Scottsdale, Ariz.): $4.1 billion
78. Community Health Network (Indianapolis): $3.8 billion
79. Parkview Health (Fort Wayne, Ind.): $3.4 billion
80. Essentia Health (Minneapolis): $3.2 billion
*Results for the 12 months ending June 30, 2025
81. ProMedica (Toledo, Ohio): $3.1 billion
82. Aspirus Health (Wausau, Wis.): $3 billion
83. Tufts Medicine (Boston): $3 billion
*Results for the 12 months ending Sept. 30, 2025
84. Legacy Health (Portland): $3 billion
*Results for the 12 months ending March 31, 2025
85. Hospital Sisters Health System (Springfield, Ill.): $2.9 billion
*Results for the 12 months ending June 30, 2025
86. John Muir Health (Walnut Creek, Calif.): $2.5 billion
87. CoxHealth (Springfield, Mo.): $2.4 billion
*Results for the 12 months ending Sept. 30, 2025
88. Deaconess Health System (Evansville, Ind.): $2.3 billion
*Results for the 12 months ending Sept. 30, 2025
89. Bronson Healthcare (Kalamazoo, Mich.): $2.1 billion
90. MyMichigan Health (Midland): $2 billion
*Results for the 12 months ending June 30, 2025
91. Hawaii Pacific Health (Honolulu): $2 billion
*Results for the 12 months ending June 30, 2025
92. Benefis Health System (Great Falls, Mont.): $1.9 billion
93. Valley Health System (Winchester, Va.): $1.6 billion
94. Catholic Health System (Buffalo, N.Y.): $1.6 billion
95. Denver Health: $1.6 billion
96. Centra Health (Lynchburg, Va.): $1.4 billion
97. TMC Health (Tucson, Ariz.): $1.3 billion
98. Inspira Health (Mullica Hill, N.J.): $1.3 billion
99. Erlanger Health System (Chattanooga, Tenn.): $1.2 billion
100. AtlantiCare Health System (Atlantic City, N.J.): $1.2 billion
101. Mercyhealth (Rockford, Ill.): $1.1 billion
*Results for the 12 months ending June, 30, 2025
102. Penn Highlands Healthcare (DuBois, Pa.): $1.1 billion
*Results for the 12 months ending June, 30, 2025
103. Palomar Health (Escondido, Calif.): $918 million
*Results for the 12 months ending June 30, 2025
104. Adena Health System (Chillicothe, Ohio): $815 million
105. Altru Health System (Grand Forks, N.D.): $200.6 million
Note: This article is being updated as additional health systems publish their most recent annual financial results. If your health system’s results are not included, please reach out to acondon@beckershealthcare.com.
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