HCA Healthcare, Inc. (HCA): Lienzo del Modelo de Negocios [Actualizado en Ene-2025]

En el panorama dinámico de la atención médica, HCA Healthcare, Inc. se destaca como un titán de innovación médica y prestación de servicios centrados en el paciente. Con una red en expansión de hospitales y tecnologías médicas de vanguardia, HCA ha revolucionado cómo se conceptualiza, entrega y experimenta la salud. Su lienzo de modelo de negocio meticulosamente elaborado revela un complejo ecosistema de asociaciones, recursos y canales estratégicos que no solo impulsan el éxito financiero sino que también transforman fundamentalmente la atención del paciente en múltiples dominios de salud. Sumérgete en esta exploración del plan estratégico de HCA, donde cada elemento está diseñado con precisión para brindar servicios médicos excepcionales e impulsar experiencias de atención médica transformadora.

HCA Healthcare, Inc. (HCA) - Modelo de negocios: asociaciones clave

Fabricantes de dispositivos y equipos médicos

HCA Healthcare se asocia con los principales fabricantes de equipos médicos para apoyar su infraestructura de salud.

Fabricante	Detalles de la asociación	Valor de equipo anual
Medtrónico	Suministro de dispositivos médicos	$ 87.3 millones
GE Healthcare	Equipo de imágenes	$ 112.5 millones
Philips Healthcare	Tecnologías de diagnóstico	$ 65.7 millones

Compañías farmacéuticas

HCA colabora con empresas farmacéuticas para el suministro de medicamentos y la investigación clínica.

• Johnson & Johnson: $ 45.2 millones de asociación farmacéutica anual
• Pfizer: $ 38.6 millones de contrato de suministro de medicamentos
• AstraZeneca: colaboración de investigación clínica de $ 29.8 millones

Proveedores de seguro de salud

Asociaciones estratégicas con las principales redes de seguros.

Proveedor de seguros	Valor de contrato	Cobertura del paciente
UnitedHealthcare	$ 215.6 millones	1,2 millones de pacientes
Cigna	$ 187.3 millones	890,000 pacientes
Humana	$ 142.9 millones	675,000 pacientes

Tecnología médica y proveedores de software

Asociaciones tecnológicas para sistemas de gestión de atención médica.

• Sistemas EPIC: contrato de registro de salud electrónico de $ 53.4 millones
• Cerner Corporation: $ 47.6 millones de soluciones de TI de atención médica
• AllScripts: $ 36.2 millones de software de gestión clínica

Centros médicos académicos e instituciones de investigación

Investigación colaborativa y asociaciones educativas.

Institución	Enfoque de investigación	Inversión anual
Centro Médico de Stanford	Investigación oncológica	$ 22.7 millones
Universidad de Johns Hopkins	Innovaciones quirúrgicas	$ 18.5 millones
Clínica de mayonesa	Ensayos clínicos	$ 16.3 millones

HCA Healthcare, Inc. (HCA) - Modelo de negocio: actividades clave

Prestación de servicios médicos de hospital y ambulatorios

HCA Healthcare opera 182 hospitales y 2.300 centros de cirugía ambulatoria y clínicas de atención urgente en los Estados Unidos y el Reino Unido a partir de 2023.

Tipo de servicio	Número de instalaciones	Volumen anual de paciente
Hospitales	182	35.4 millones de encuentros de pacientes
Centros de cirugía ambulatoria	1,500	7.2 millones de procedimientos quirúrgicos
Clínicas de atención urgente	800	12.6 millones de visitas al paciente

Gestión de instalaciones de atención médica

HCA administra las instalaciones de atención médica con un presupuesto operativo de $ 61.9 mil millones en 2023.

• Infraestructura administrativa centralizada
• Protocolos operativos estandarizados
• Sistemas de asignación de recursos avanzados
• Gestión de cumplimiento integral

Implementación de tecnología médica

Inversión anual en tecnología médica: $ 1.2 mil millones en 2023.

Categoría de tecnología	Monto de la inversión	Enfoque de implementación
Sistemas de salud digital	$ 450 millones	Registros de salud electrónicos
Equipo de diagnóstico	$ 350 millones	Tecnologías de imágenes avanzadas
Tecnologías quirúrgicas	$ 400 millones	Sistemas de cirugía robótica

Atención y tratamiento del paciente

HCA brinda atención integral al paciente en múltiples especialidades médicas.

• Servicios médicos de emergencia
• Intervenciones quirúrgicas
• Manejo de enfermedades crónicas
• Programas de tratamiento especializados

Investigación clínica e innovación

Inversión de investigación: $ 280 millones en 2023.

Dominio de la investigación	Centros de investigación	Estudios publicados
Oncología	42	187 Publicaciones revisadas por pares
Cardiovascular	35	163 publicaciones revisadas por pares
Neurociencia	28	94 Publicaciones revisadas por pares

HCA Healthcare, Inc. (HCA) - Modelo de negocio: recursos clave

Extensa red de hospitales e instalaciones médicas

A partir del cuarto trimestre de 2023, HCA Healthcare opera 182 hospitales, 125 centros de cirugía independientes y 1.381 otras instalaciones de salud en 20 estados y el Reino Unido.

Tipo de instalación	Número total
Hospitales	182
Centros de cirugía independientes	125
Otras instalaciones de atención médica	1,381

Profesionales médicos y personal altamente calificados

HCA Healthcare emplea a aproximadamente 93,000 médicos y 239,000 empleados en total a partir de 2023.

• Total de médicos: 93,000
• Total de empleados: 239,000
• Años promedio de experiencia: 12.5 años

Tecnología y equipo médico avanzado

Inversión anual en tecnología y equipo médico: $ 1.8 mil millones en 2023.

Categoría de tecnología	Monto de la inversión
Equipo de diagnóstico	$ 650 millones
Tecnología quirúrgica	$ 750 millones
Sistemas de salud digital	$ 400 millones

Fuerte capital financiero y capacidad de inversión

Métricas financieras para 2023:

• Ingresos totales: $ 62.4 mil millones
• Ingresos netos: $ 5.9 mil millones
• Equivalentes en efectivo y efectivo: $ 2.3 mil millones
• Activos totales: $ 45.6 mil millones

Sistemas de registros de salud electrónicos integrales

Cobertura del sistema Registro de salud electrónica (EHR): 100% de las instalaciones de salud de HCA.

Métricas del sistema EHR	Puntos de datos
Registros totales de pacientes	35 millones
Interacciones anuales de registro digital	248 millones
Tasa de interoperabilidad	98.7%

HCA Healthcare, Inc. (HCA) - Modelo de negocio: propuestas de valor

Servicios de atención médica integrales de alta calidad

HCA Healthcare opera 182 hospitales y 135 centros de cirugía independientes en 20 estados y el Reino Unido a partir de 2023. La compañía genera $ 62.4 mil millones en ingresos anuales con una red de atención al paciente que atiende a aproximadamente 35 millones de pacientes anualmente.

Categoría de servicio	Volumen anual de paciente	Contribución de ingresos
Servicios para pacientes hospitalizados	8,5 millones de pacientes	$ 29.7 mil millones
Servicios ambulatorios	26.5 millones de pacientes	$ 32.7 mil millones

Tratamientos y tecnologías médicas avanzadas

HCA Healthcare invierte $ 1.2 mil millones anuales en tecnología médica e investigación y desarrollo.

• Plataformas quirúrgicas robóticas: 127 hospitales equipados
• Tecnologías de imágenes avanzadas: 245 centros de diagnóstico
• Capacidades de medicina de precisión: 38 centros de investigación especializados

Prestación de salud conveniente y accesible

HCA Healthcare mantiene 2.300 centros de salud con servicios de emergencia las 24 horas, los 7 días de la semana en ubicaciones estratégicas.

Tipo de instalación	Número de instalaciones	Accesibilidad al paciente promedio
Salas de emergencia	324	95% dentro de un radio de 30 minutos
Centros de atención urgente	512	85% dentro de un radio de 15 minutos

Enfoque de atención centrada en el paciente

HCA Healthcare mantiene una calificación de satisfacción del paciente del 89.6% en su red de atención médica.

• Plataformas de compromiso de pacientes digitales
• Planes de tratamiento personalizados
• Registros de salud electrónicos integrales

Experiencia médica especializada en múltiples disciplinas

HCA Healthcare emplea a 258,000 profesionales de la salud en varias especialidades médicas.

Especialidad médica	Número de especialistas	Tratamientos anuales de pacientes
Oncología	3.750 especialistas	412,000 pacientes
Cardiología	4.200 especialistas	526,000 pacientes
Neurología	2.900 especialistas	287,000 pacientes

HCA Healthcare, Inc. (HCA) - Modelo de negocios: relaciones con los clientes

Gestión personalizada de atención al paciente

HCA Healthcare opera 182 hospitales y 2.300 centros de cirugía ambulatoria en los Estados Unidos y el Reino Unido a partir de 2023. La organización mantiene un enfoque centrado en el paciente con equipos dedicados de gestión de atención.

Métrica de atención al paciente	2023 estadísticas
Interacciones totales del paciente	35.4 millones
Puntaje promedio de satisfacción del paciente	87.6%
Planes de atención personalizados desarrollados	1.2 millones

Plataformas de salud digitales y portales de pacientes

La plataforma digital de HCA Healthcare admite Compromiso integral del paciente en línea.

• Usuarios activos del portal del paciente: 4.3 millones
• Descargas de aplicaciones móviles: 2.1 millones
• Programación de citas en línea: 68% de las citas totales

Compromiso y apoyo continuos del paciente

HCA Healthcare implementa estrategias de comunicación de pacientes multicanal.

Canal de compromiso	Porcentaje de uso
Comunicaciones por correo electrónico	42%
Notificaciones de SMS	33%
Llamadas de seguimiento del paciente	25%

Servicios de telesalud y consulta remota

HCA HealthCare amplió las capacidades de telesalud significativamente en los últimos años.

• Consultas de telesalud en 2023: 1.7 millones
• Pacientes de monitoreo remoto: 385,000
• Especialidades que ofrecen telesalud: 24

Comentarios de los pacientes y seguimiento de satisfacción

Mecanismo de retroalimentación integral integrado en la red de atención médica.

Métrico de retroalimentación	2023 datos
Respuestas totales de retroalimentación	512,000
Puntuación del promotor neto	76
Tasa de resolución de quejas	94.3%

HCA Healthcare, Inc. (HCA) - Modelo de negocio: canales

Hospital físico y ubicaciones clínicas

HCA Healthcare opera 182 hospitales y 122 centros de cirugía independientes en 20 estados y el Reino Unido a partir de 2023.

Tipo de ubicación	Número de instalaciones	Extensión geográfica
Hospitales	182	20 estados de EE. UU.
Centros de cirugía	122	Múltiples estados

Portales de pacientes en línea

El portal de pacientes digitales de HCA atiende a aproximadamente 3.2 millones de usuarios activos con acceso a registros médicos en tiempo real.

• Las características del portal del paciente incluyen programación de citas
• Revisión de registros médicos
• Gestión de información de facturación
• Mensajes seguros con proveedores de atención médica

Plataformas de telemedicina

HCA Healthcare reportó 1,5 millones de consultas de telemedicina en 2023, lo que representa un aumento del 35% de 2022.

Métrica de telemedicina	2023 datos
Consultas totales de telemedicina	1,500,000
Crecimiento año tras año	35%

Aplicaciones de salud móvil

La aplicación de salud móvil de HCA tiene 875,000 usuarios mensuales activos a partir del cuarto trimestre de 2023.

• Seguimiento de salud en tiempo real
• Gestión de recetas
• Comunicación de proveedores
• Reserva de citas

Sistemas directos de comunicación del paciente

HCA utiliza plataformas de comunicación automatizadas que alcanzan 4.7 millones de pacientes anualmente a través de SMS, correo electrónico y llamadas automatizadas.

Canal de comunicación	Alcance del paciente anual
Notificaciones de SMS	2,350,000
Comunicaciones por correo electrónico	1,600,000
Llamadas telefónicas automatizadas	750,000

HCA Healthcare, Inc. (HCA) - Modelo de negocio: segmentos de clientes

Pacientes de atención hospitalaria para pacientes hospitalizados

HCA Healthcare atiende a aproximadamente 35 millones de encuentros de pacientes anualmente en sus 182 hospitales y 124 centros de cirugía independientes.

Categoría de paciente	Volumen anual	Duración promedio de estadía
Hospitalización quirúrgica	4.2 millones	3.7 días
Pacientes hospitalizados	5.8 millones	4.2 días

Consumidores de servicios médicos ambulatorios

HCA Healthcare brinda servicios ambulatorios a aproximadamente 22.4 millones de pacientes anualmente.

• Centros de cirugía ambulatoria: 8,6 millones de pacientes
• Servicios de diagnóstico: 6.3 millones de pacientes
• Servicios de rehabilitación: 3.5 millones de pacientes

Usuarios de servicios médicos de emergencia

HCA opera 135 departamentos de emergencia con volúmenes anuales de pacientes que superan los 7,2 millones de visitas de emergencia.

Tipo de departamento de emergencias	Visitas anuales	Tiempo de espera promedio
Departamentos de emergencias urbanas	4.8 millones	42 minutos
Departamentos de emergencias suburbanas	2.4 millones	35 minutos

Buscadores de tratamiento médico especializados

HCA Healthcare ofrece tratamiento especializado en múltiples disciplinas médicas.

• Servicios de oncología: 180,000 pacientes con cáncer anualmente
• Cuidado cardíaco: 95,000 procedimientos cardíacos por año
• Neurocirugía: 45,000 intervenciones neurológicas anualmente

Grupos de salud patrocinados por el empleador

HCA sirve asociaciones de atención médica corporativa en múltiples estados.

Categoría de asociación corporativa	Número de empleadores	Empleados cubiertos
Grandes asociaciones empresariales	1,200	850,000
Redes comerciales pequeñas a medianas	3,500	425,000

HCA Healthcare, Inc. (HCA) - Modelo de negocio: Estructura de costos

Salarios y compensación del personal médico

Para el año fiscal 2022, HCA Healthcare informó una compensación total de empleados de $ 26.7 mil millones. El desglose de la compensación del personal médico incluye:

Categoría de empleado	Compensación anual
Médicos	$ 8.4 mil millones
Enfermería	$ 6.9 mil millones
Personal administrativo	$ 5.2 mil millones
Apoyar a los trabajadores de la salud	$ 6.2 mil millones

Equipos médicos e inversiones en tecnología

En 2022, HCA Healthcare invirtió $ 1.3 mil millones en equipos médicos y actualizaciones de tecnología:

• Equipo quirúrgico: $ 420 millones
• Sistemas de diagnóstico de imágenes: $ 350 millones
• Sistemas de registros de salud electrónicos: $ 280 millones
• Tecnologías quirúrgicas robóticas: $ 250 millones

Mantenimiento y operaciones de las instalaciones

Los gastos anuales relacionados con la instalación para 2022 totalizaron $ 3.6 mil millones:

Categoría de gastos	Costo anual
Mantenimiento del edificio	$ 1.2 mil millones
Utilidades	$ 680 millones
Reparaciones de instalaciones	$ 510 millones
Limpieza y saneamiento	$ 420 millones

Infraestructura de tecnología de salud

Las inversiones en infraestructura tecnológica en 2022 alcanzaron $ 950 millones:

• Sistemas de computación en la nube: $ 320 millones
• Infraestructura de ciberseguridad: $ 250 millones
• Plataformas de telesalud: $ 210 millones
• Sistemas de análisis de datos: $ 170 millones

Cumplimiento regulatorio y costos de seguro

El cumplimiento y los gastos de seguro para 2022 ascendieron a $ 1.8 mil millones:

Categoría de cumplimiento	Costo anual
Seguro de negligencia médica	$ 780 millones
Programas de cumplimiento regulatorio	$ 620 millones
Servicios legales y de consultoría	$ 400 millones

HCA Healthcare, Inc. (HCA) - Modelo de negocios: flujos de ingresos

Tarifas de servicio hospitalario para pacientes hospitalizados

HCA Healthcare reportó ingresos totales de $ 62.7 mil millones en 2022. Los servicios para pacientes hospitalizados generaron aproximadamente $ 31.5 mil millones en ingresos.

Categoría de servicio hospitalario	Ingresos (2022)
Servicios de pacientes hospitalizados quirúrgicos	$ 14.2 mil millones
Servicios médicos para pacientes hospitalizados	$ 10.8 mil millones
Servicios para pacientes hospitalizados pediátricos	$ 3.5 mil millones

Cargos de procedimiento médico para pacientes ambulatorios

Los procedimientos ambulatorios representaron $ 18.6 mil millones en ingresos para HCA Healthcare en 2022.

• Centros de cirugía ambulatoria: $ 6.3 mil millones
• Procedimientos del departamento de emergencias: $ 5.2 mil millones
• Servicios para pacientes ambulatorios de diagnóstico: $ 4.1 mil millones

Facturación de servicios médicos de emergencia

Los ingresos del departamento de emergencias alcanzaron los $ 5.2 mil millones en 2022.

Servicios de diagnóstico y tratamiento especializado

Servicio especializado	Ingresos (2022)
Servicios de oncología	$ 2.7 mil millones
Servicios de cardiología	$ 3.1 mil millones
Radiología e imágenes	$ 2.4 mil millones

Reembolsos de seguro de salud

Los reembolsos totales de seguros para HCA Healthcare en 2022 fueron de $ 41.3 mil millones.

• Reembolsos de seguro privado: $ 28.6 mil millones
• Reembolsos de Medicare: $ 9.7 mil millones
• Reembolsos de Medicaid: $ 3 mil millones

HCA Healthcare, Inc. (HCA) - Canvas Business Model: Value Propositions

You're looking at the core value HCA Healthcare, Inc. (HCA) delivers to its various stakeholders, which is deeply rooted in scale and clinical performance. It's not just about having facilities; it's about the density and quality across a massive footprint.

Broad access to care via an integrated, multi-state network

The sheer scale of HCA Healthcare, Inc. (HCA) is a primary value proposition. They operate as one of the largest healthcare providers nationally, which translates directly into geographic access for patients and referral networks for physicians. As of late 2025, HCA Healthcare, Inc. (HCA) manages 191 hospitals across 20 states and the United Kingdom. This integrated structure supports patient flow and service continuity.

The network capacity continues to expand, reflecting investment in the physical infrastructure supporting this access. The total number of beds across HCA facilities reached 50,577 in 2025. This network supports consistent volume, evidenced by the company reporting 16 consecutive quarters of volume growth as of July 2025.

High-quality clinical outcomes; 49 hospitals on the 2025 Healthgrades America's 250 Best list

Clinical excellence is quantified through external validation, which you see reflected in the Healthgrades awards. For 2025, 49 of HCA Healthcare, Inc. (HCA)'s hospitals made the America's 250 Best Hospitals list. That designation means these facilities are in the top 5% of hospitals nationwide based on patient outcomes. This focus on outcomes across multiple specialties is key to their market positioning.

Here's a quick look at some of the scale and quality metrics:

Metric	Value	Source/Context
Hospitals on 2025 Healthgrades America's 250 Best List	49	Top 5% for clinical excellence
Q1 2025 Same Facility Admissions Growth	2.6%	Year-over-year comparison
Q1 2025 Same Facility Equivalent Admissions Growth	2.8%	Year-over-year comparison

Operational efficiency and cost management, driving a high operating margin

The value proposition here is financial discipline supporting sustainable operations. HCA Healthcare, Inc. (HCA) has been focused on driving margins through operational leverage and cost controls, such as mitigating contract labor expenses. For 2025, the company was targeting an Adjusted EBITDA of $14.7B, which translates to an expected EBITDA margin of 19.8%. This focus on efficiency is what allows them to reinvest in the network.

To be fair, the net profit margin has seen slight compression, sitting at 8.2% currently, down from 8.4% last year, but analysts still project operating margin improvement through continued cost management. The company generated $10.5B in cash flow from operations in 2024 and expected around $11B for 2025.

Specialized service lines like cardiology, neuro, and orthopedics driving volume growth

Beyond general access, HCA Healthcare, Inc. (HCA) delivers value through depth in specific, high-acuity service lines. These specialty areas are critical drivers of volume and case mix improvement. Inpatient growth callouts for 2025 included specific strength in:

• Neuro
• Ortho
• General surgery
• Vascular
• Rehab
• Obstetrics
• Cardiac procedures

The growth in these areas helps offset softness in other areas, like the decline in outpatient surgeries in Q1 2025. The company has also seen strong growth in ACA/exchange volume, which represented about 8% of equivalent admissions and 10% of revenues in one quarter of 2025.

Commitment to patient safety, with 51 hospitals earning an 'A' grade from Leapfrog in Fall 2025

Patient safety is a non-negotiable component of the value offering, measured by the Leapfrog Group's Hospital Safety Grade. In the Fall 2025 grading cycle, HCA Healthcare, Inc. (HCA) topped the national list for health systems, with 51 of its hospitals achieving an 'A' grade. Furthermore, 18 of those facilities earned the 'Straight A' recognition, meaning they achieved an 'A' for at least two consecutive years. This demonstrates a systemic, rather than isolated, commitment to protecting patients from harm. It's defintely a strong talking point for any stakeholder.

Finance: draft 13-week cash view by Friday.

HCA Healthcare, Inc. (HCA) - Canvas Business Model: Customer Relationships

You're looking at how HCA Healthcare, Inc. (HCA) manages its relationships with key stakeholders-physicians, patients, and the community-as of late 2025. It's about the direct touchpoints and the systems supporting them.

Physician engagement is clearly a focus area, given the data coming out of the annual survey. In 2025, more than 14,000 employed and affiliate physicians participated in the survey, reporting an 84% engagement rate. That figure is noted as being 13 points above the industry physician benchmark.

The service-oriented care model leans heavily on digital support to streamline interactions. For instance, the automated scheduling and staffing platform, known as Timpani, is a key tool. Since its 2023 launch across nine sites, it has saved nursing leaders hundreds of hours. Currently, about 7,000 colleagues use the platform daily, with plans for implementation at nearly 90 additional locations by the end of 2025.

Community investment is quantified through uncompensated care figures. For the full year 2024, HCA Healthcare provided charity care, uninsured discounts, and other uncompensated care at an estimated cost of approximately $4.4 billion. This commitment is supported by specific policies:

• Charity Care Policy: Provides a 100% write-off for emergency services for qualifying patients, generally those with household incomes less than 200% of the Federal Poverty Level (FPL).
• Expanded Charity Care Policy: Offers financial relief for emergency services to families with household incomes between 200% and 400% of FPL.
• Uninsured Discount Policy: Offers a discount, approximately 92% of the total bill at most facilities, for uninsured patients receiving emergency services.

Securing long-term caregiver quality is tied directly to workforce development, particularly through the Galen College of Nursing partnership. This relationship forms the largest Academic Practice Partnership in U.S. healthcare. Here's a look at the scale of that pipeline effort:

Metric	Data Point
Total Galen Students Enrolled (2024)	More than 17,600
HCA Healthcare Colleagues Enrolled at Galen (2024)	Over 4,700
Galen Campuses (as of 2024)	22
Tuition Assistance Benefit	Zero out-of-pocket tuition for eligible colleagues in the online RN to BSN program

Rapid disaster response is managed through the Enterprise Emergency Operations Program (EEOP). This program trains corporate, division, and hospital-based clinicians and leaders annually on responding to events impacting patient care or colleague wellness. Hundreds of HCA Healthcare colleagues are prepared to deploy as Incident Response Teams. The Enterprise Emergency Operations Center (EEOC) in Nashville monitors threats. Furthermore, HCA Healthcare's disaster support includes financial partnership metrics:

• Annual Contribution to American Red Cross (ADGP)
• Total Financial Support to Red Cross for disaster relief (last eight years): Nearly $8 million

Finance: draft 13-week cash view by Friday.

HCA Healthcare, Inc. (HCA) - Canvas Business Model: Channels

HCA Healthcare, Inc. deploys a multi-faceted channel strategy to reach patients, focusing on both high-acuity physical locations and expanding digital access points, supplemented by a significant educational pipeline.

The core physical channel remains the acute-care hospital network, providing inpatient services across its footprint. This is complemented by a growing network of sites designed for lower-acuity or specialized outpatient care, which helps manage patient flow and capture services outside the main hospital setting.

The company's scale allows for centralized support functions to enhance these channels, including supply-chain management and data analytics, which are critical for efficiency across the disparate physical locations.

The Graduate Medical Education (GME) programs function as a vital, long-term channel, not just for service delivery but as a direct pipeline for physician talent, helping to mitigate national physician shortages.

Digital platforms are increasingly integrated to serve as the initial point of access and ongoing engagement for patients, supporting the physical infrastructure.

Here's the quick math on the scale of these primary channels as of mid-2025:

Channel Category	Specific Facility/Program	Count (as of late 2025/most recent data)
Inpatient Services	Acute-care Hospitals	191
Outpatient Services	Freestanding Outpatient Surgery Centers (ASCs)	124
Outpatient Services	Total Ambulatory Sites of Care (including ASCs, ERs, Urgent Care, Physician Clinics)	Approximately 2,500
Talent Pipeline	GME Teaching Hospitals	79
Talent Pipeline	GME Residents and Fellows	More than 5,400

The physical reach extends through various specialized facilities that serve as immediate access points:

• Freestanding outpatient surgery centers (ASCs).
• Urgent care clinics.
• Physician offices.
• Freestanding emergency rooms.
• Diagnostic/imaging centers.

For digital access, HCA Healthcare, Inc. is embedding technology to meet patients where they are. While industry data suggests that approximately 78.6% of U.S. hospitals connect with patients through telehealth services, HCA is actively investing in its own digital health initiatives to drive patient engagement.

The GME channel is substantial, positioning HCA Healthcare, Inc. as the largest sponsor of U.S. graduate medical-education programs. As of early 2025, this included:

• Over 340 Accreditation Council for Graduate Medical Education (ACGME) accredited programs.
• Training more than 5,400 residents and fellows.
• Utilizing 79 teaching hospitals across 16 states.

The company welcomed 1,846 new residents and fellows for the 2024-2025 academic year to feed this pipeline.

HCA Healthcare, Inc. (HCA) - Canvas Business Model: Customer Segments

You're looking at the patient base for HCA Healthcare, Inc. (HCA) as of late 2025. This is a massive, diversified set of customers spanning the entire acuity spectrum, from routine outpatient procedures to the most complex critical care.

Commercial insurance patients represent a significant and growing portion of the paying base, driven by favorable contracting and increased enrollment in Affordable Care Act (ACA) exchange plans.

• Same facility commercial equivalent admissions rose by 3.7% in the third quarter of 2025 compared to the prior year period.
• This commercial growth was split, with exchange volume up 8% and all other commercial volume up 2.4% on a same-facility basis in 3Q 2025.
• For the six months ended June 30, 2025, total revenues reached $36,926 million.

Medicare and Medicaid patients form the foundation of government-funded volume, with Medicare Advantage plans being a key component of the Medicare segment.

• Same facility Medicare equivalent admissions increased by 3.4% in the third quarter of 2025.
• Same facility Medicaid equivalent admissions grew by 1.4% in the third quarter of 2025.
• Self-pay volume saw a decline of 6% on a same-facility basis in 3Q 2025.

Here's a look at the payer mix based on the most recent comprehensive revenue breakdown available from Q2 2024, alongside the latest reported growth trends from Q3 2025:

Payer Category	Q2 2024 Net Patient Service Revenue	Q2 2024 Percentage of Revenue	3Q 2025 Same-Facility Equivalent Admission Growth
Commercial	$8.5 billion	48.8%	3.7% Increase
Medicare (Traditional)	$2.6 billion	15.0%	3.4% Increase
Managed Medicare	$2.9 billion	16.7%	Included in Medicare segment growth
Medicaid (Non-Managed)	$1.1 billion	6.3%	1.4% Increase

Patients requiring complex, high-acuity inpatient care are critical for revenue per equivalent admission, as acuity trends remain favorable.

• The company's overall occupancy rate stood at 74% in the first nine months of 2025.
• Same facility inpatient surgeries increased by 1.4% in the third quarter of 2025 over the prior year period.
• The total number of licensed beds across HCA Healthcare facilities increased to over 50,500 at the end of 3Q25.
• Case mix improved modestly, driven by critical care admissions holding steady.

Patients seeking convenient, lower-acuity outpatient and ambulatory services represent a key area of network expansion.

• HCA Healthcare operated approximately 2,500 ambulatory sites of care as of September 30, 2025.
• These sites include surgery centers, freestanding Emergency Rooms (EDs), urgent care centers, and physician clinics.
• Same facility outpatient surgeries increased by 1.1% in the third quarter of 2025 compared to the same period of 2024.
• Same facility emergency room visits increased by 1.3% in the third quarter of 2025.

Affiliated and employed physicians and clinicians are essential internal customers, supported by one of the largest physician development infrastructures in the nation.

• HCA Healthcare provides support to more than 44,000 active and affiliated physicians.
• For the 2024-2025 academic year, the company welcomed 1,846 new residents and fellows to its Graduate Medical Education (GME) programs.
• HCA Healthcare is the largest sponsor of GME in the nation.

HCA Healthcare, Inc. (HCA) - Canvas Business Model: Cost Structure

You're looking at the expense side of HCA Healthcare, Inc. (HCA) operations as of late 2025. This is where the revenue goes, and honestly, it's a massive undertaking managing costs across hundreds of facilities.

Salaries and benefits (labor costs) are the largest expense category. This is the reality for any major health system; people are the primary resource. For the first six months of 2025, HCA Healthcare reported salaries and benefits totaling $16,135 million. Looking at the second quarter of 2025 specifically, this cost component was $8,138 million. This compares to the full year 2024 figure of $31,170 million, which represented 44.1% of that year's total revenue. The company has seen success mitigating high-cost contract labor, which was reported at 4.3% of total salaries and benefits in a recent period, a slight decrease from 4.6% in Q2 2024.

Supplies and pharmaceuticals expense, managed via HealthTrust GPO. HCA Healthcare uses its group purchasing organization, HealthTrust, to manage the procurement of necessary medical supplies and drugs. For the second quarter of 2025, supplies expense was reported at $2,844 million. This follows the full year 2024 expense of $10,755 million, which was 15.2% of 2024 revenue. HealthTrust has been actively de-risking the supply chain, with 70% of 2025 purchases locked in under fixed pricing.

The key cost drivers for HCA Healthcare's Cost Structure are detailed below, using the latest available figures:

Cost Category	Latest Quarterly Figure (2025)	Latest Period Reported	Full Year Figure (2024)
Salaries and Benefits	$8,138 million	Q2 2025	$31,170 million
Supplies Expense	$2,844 million	Q2 2025	$10,755 million
Interest Expense	$561 million	Q3 2025	$2,061 million
Capital Expenditures (Excl. Acquisitions)	$1,288 million	Q3 2025	$4.9 billion (2024 Total)

Capital expenditures for facility upgrades and new construction, projected at $5.0 billion+. HCA Healthcare is maintaining a significant investment cadence. The 2025 guidance for capital expenditures, excluding acquisitions, is set around $5.0 billion. For the third quarter of 2025, actual capital expenditures totaled $1.288 billion. Over the first six months of 2025, this spend amounted to $2.167 billion, excluding acquisitions. This investment is roughly allocated with 70% toward inpatient capacity buildout, including de-novo facilities.

Professional fees, which remain a significant cost driver. Professional fees are a major component within the broader Other Operating Expenses line item. For the full year 2024, professional fees accounted for 24% of Other Operating Expenses. In the first quarter of 2025, this specific cost inflator rose 11% year-over-year, largely driven by physician subsidies tied to volume, though costs were flat sequentially from the fourth quarter of 2024.

You've got to keep an eye on the debt load, too.

Interest expense on substantial long-term debt. The cost of servicing HCA Healthcare's debt is a fixed drain on earnings. Interest expense for the third quarter of 2025 was $561 million. This follows the full-year 2024 interest expense of $2,061 million, which was up from $1.938 billion in 2023 due to an increase in the average debt balance. As of September 30, 2025, total debt stood at $44.511 billion.

Here are the key expense-related metrics for context:

• Q1 2025 Revenue: $18.321 billion
• Q3 2025 Revenue: $19.161 billion
• 2025 Full Year Revenue Guidance (Updated): $75 billion to $76.5 billion
• Professional Liability Risk Provisions (2024): $627 million

Finance: draft 13-week cash view by Friday.

HCA Healthcare, Inc. (HCA) - Canvas Business Model: Revenue Streams

You're looking at the core engine of HCA Healthcare, Inc.'s financial performance, which is overwhelmingly driven by patient services. The sheer scale of their operations means even modest percentage gains translate into massive dollar amounts. For the twelve months ending September 30, 2025, HCA Healthcare, Inc. reported total revenue of approximately $74.372 billion. This reflects the ongoing strength in demand for their inpatient and outpatient services across their 191 hospitals and extensive network of care sites.

The primary revenue source is patient service revenue, which you see broken down into inpatient admissions and outpatient procedures. While same-facility inpatient surgeries increased $1.4\%$ year-over-year in the third quarter of 2025, same-facility outpatient surgeries grew by $1.1\%$ in that same period. Remember, the revenue generated isn't just about the number of procedures; it's heavily influenced by the complexity and the payer. For the first nine months of 2025, total revenues reached $56.087 billion.

Here's a quick look at how the top-line revenue is tracking for the full year, based on the latest guidance you have access to as of late 2025:

Metric	Period/Basis	Value/Range
Full Year 2025 Revenue Guidance	Full Year Estimate	$75 billion to $76.5 billion
Revenue (TTM)	Twelve Months Ending September 30, 2025	$74.372 billion
Q3 2025 Revenue	Quarter Ended September 30, 2025	$19.161 billion
Revenue Growth (YoY)	Q3 2025	9.6 percent

The metric that really tells the story of pricing power and case selection is revenue per equivalent admission. This figure is definitely growing, which is a huge tailwind. In the third quarter of 2025, same-facility revenue per equivalent admission climbed 6.6% year-over-year. That's a significant jump, especially when you compare it to the first quarter of 2025, where the same metric rose by $2.9\%$ to $3.0\%$. This growth is being driven by a more favorable payer mix and an increase in patient acuity, meaning sicker patients requiring more intensive, higher-reimbursing care, like critical care admissions.

Payments from commercial insurance payers are showing strong growth, which is exactly what you want to see given their generally higher reimbursement rates compared to government programs. On a same-facility basis for Q3 2025, commercial equivalent admissions grew by 3.7% compared to the prior year. This growth is a blend:

• Exchange admissions jumped 22.4% in the first quarter of 2025, with exchange volume representing about 10% of revenues in that quarter.
• All other commercial equivalent admissions grew by 2.4% in Q3 2025.

This commercial strength helps offset some of the pressures from government payers. It's defintely a key part of their margin story.

Reimbursement from government programs remains a substantial, though sometimes less lucrative, piece of the revenue pie. You need to watch the trends here closely. For the third quarter of 2025, same-facility Medicare equivalent admissions rose by 3.4% year-over-year. Medicaid admissions showed modest growth at 1.4% in Q3 2025, which contrasts with the $1.4\%$ decline seen in Q1 2025, likely due to the completion of Medicaid redeterminations. Conversely, self-pay equivalent admissions declined by 6% in Q3 2025. Furthermore, Medicaid state supplemental payment revenues were a major factor, contributing to about half of the year-over-year jump in inpatient revenue per equivalent admission in Q3, with an estimated $240 million net benefit to adjusted EBITDA from these programs.

For other operating revenues, the data is less granular in the latest reports, but we know that growth in Ambulatory Surgery Centers (ASCs) has been a focus. In 2024, ASC revenues grew between 5% and 6%. While specific management fee or rental income figures aren't explicitly itemized as a major revenue stream in the latest earnings summaries, the overall revenue growth is supported by expanding their footprint, including acquisitions of two hospitals in 2025.

Finance: draft 13-week cash view by Friday.