Payer mix in the largest for-profit health systems

The nation’s largest for-profit health systems have filed their third-quarter earnings reports, detailing payer mixes by patient service revenue, patient admissions or both in the first nine months of 2023. 

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Community Health Systems (Franklin, Tenn.)

Payer mix by net operating revenues as of Sept. 30:
Commercial: 47.7%
Medicare: 20.2%
Medicare Advantage: 6.8%
Medicaid: 14.3%
Self-pay: 1%

HCA Healthcare (Nashville, Tenn.) 

Payer mix by net operating revenues as of Sept. 30:
Commercial: 48.5%
Medicare: 16.5%
Managed Medicare: 16% 
Managed Medicaid: 6% 
Other: 5.4%
Medicaid: 5.2%
International: 2.4% 

Payer mix by admissions as of Sept. 30:
Commercial: 30%
Medicare: 21%
Managed Medicare: 25% 
Managed Medicaid: 13%
Uninsured: 7%
Medicaid: 4%

Tenet Healthcare (Dallas) 
*Commercial includes Medicare Advantage and managed Medicaid

Payer mix by net operating revenues as of Sept. 30:
Commercial: 70.5% 
Medicare: 16.6%
Medicaid: 7.9%
Indemnity/other: 4.2%
Uninsured: 0.8% 

Payer mix by admissions as of Sept. 30:
Commercial: 67.3%
Medicare: 19.9%
Medicaid: 5%
Charity/uninsured: 4.4%
Indemnity/other: 3.4% 

Universal Health Services (King of Prussia, Pa.)

Payer mix by net operating revenues as of Sept. 30:
Commercial: 30%
Managed Medicaid: 16%
Medicare Advantage: 12%
Medicare: 11%
Medicaid: 10% 
Other: 7%
U.K.: 5%

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