🏥 The Top 37 Health Systems by Revenue

Total revenue, patient revenue, revenue growth, and more

Blake Madden Jun 4th, 2026 Read in browser

In partnership with Happy Thursday Hospitalogists! I’ve been deep into researching nonprofit and for profit health system performance and I want to kick off some analysis by sharing some topline revenue figures for you guys across some sliced and diced data, then beautified by yours truly. Take that, Claude (for now). So today’s send covers the top 37 (because I couldn’t decide on a normal number cutoff) health systems by revenue. It is very visual forward, analysis light, so I’m sorry for you psychopaths who prefer reading dense text. Enjoy, and all feedback welcome! P.S. — There is nothing noisier in healthcare right now than the AI conversation. If you're a C-suite or VP-level executive at a hospital or health system and tired of the circus, the Hospitalogy AI Retreat is where the real conversation happens. Off-record roundtables, curated 1:1s, 100 seats, Phoenix, Nov 1–4. Apply here. Was this email forwarded to you? Subscribe Here Sponsored by Navvis Hate to say I told ya so, but... Navvis was just named a leader in value-based care. In their annual market anaylsis, International Data Corporation found that Navvis was a category leader in physician-led transformation, true operational partnership, tech-agnostic integration, and flexible engagement with shared risk. The report specifically called out the unique ways Navvis activates physician engagement, works across EHRs and data environments, and ties their fees directly to measurable results. You can see Navvis' commitment to strategic partnership, not just in their economic incentives, but in their willingness to get in the trenches--committing teams onsite and running day-to-day VBC operations alongside clients. Happy to see them getting their flowers. Read the report highlights here Top 37 Health Systems by Revenue through December 31, 2025 Note that all revenue is comparable through calendar year ended December 31, 2025. For those health systems with fiscal years ended during the year (June, September, August), stop doing that. Kidding…but I have added the partial half year figures to create an unaudited trailing twelve month that should be directionally pretty close to actual audited figures. Top 37 Health Systems by Total 2025 Revenue Top 37 Health Systems by Total Revenue Growth Note that all revenue growth and CAGRs below include M&A, so some of the top players and bottom players are inorganic, as many (if not most) do not report same-facility revenue metrics. Ah, if a perfect world existed… Top Health Systems by Patient Revenue Top Health Systems by Patient Revenue Growth Top Health Systems by 2 Year Total Revenue CAGR Top Health Systems by 2 Year Patient Revenue CAGR Top 33 Health Systems by Other Revenue Sponsored by R1 AI is reshaping revenue cycle work fast — but the organizations winning aren't just automating tasks. They're redesigning how their teams operate entirely. In The New Revenue Cycle Workforce, the focus is on what revenue cycle leaders need to do now: shift staff toward exception management, implement payer strategy and oversight, build governance with auditable guardrails, and set human-in-the-loop controls. The goal? To redesign roles so that work shifts from siloed tasks to orchestrated workflows across the entire revenue cycle. If you lead a revenue cycle team, this one's worth the read. Download the report. Get Your Copy HOSPITALOGY TOP READS & RESOURCES The current state of behavioral health in Oncology Nurse practitioner is now the hottest job in healthcare…a headline we decide to run after it’s been the fastest growing job for 2 years running. Hmm. Mispricing the RCM bundle In their latest report, R1 lays out their vision for a system-wide, AI-driven approach to rev cycle management that could fundamentally redesign understaffed RCM teams. It's an eye-opening read, with tons of hard data highlighting broken economics and a system struggling under the weight of it's own logic.* Why VBC makes healthcare more expensive “Damn it, they’re good.” *This resource is brought to you by one of my brand partners who help make this newsletter possible! MISCELLANEOUS MADDENINGS I witnessed a legendary toddler negotiation with my wife this morning. [at 7am in the morning] Jack: Mommy I want a cookie bar Mommy: Jack it’s 7am and you’re eating your oatmeal Jack: But I want one Mommy: Okay, fine. Take 3 more bites and you can have one Jack: 2 Mommy: …fine. Jack: throws banana on the ground Have a great weekend fam. Rainy one here in Dallas! Thanks for the read! Let me know what you thought by replying back to this email. — Blake

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