HCA Healthcare, Inc. (HCA): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique des soins de santé, HCA Healthcare, Inc. est un titan de l'innovation médicale et de la prestation de services centrés sur le patient. Avec un réseau tentaculaire d'hôpitaux et de technologies médicales de pointe, HCA a révolutionné comment les soins de santé sont conceptualisés, livrés et expérimentés. Leur toile de modèle commercial méticuleusement conçu révèle un écosystème complexe de partenariats, de ressources et de canaux stratégiques qui non seulement stimulent le succès financier mais transforment également fondamentalement les soins aux patients dans plusieurs domaines de santé. Plongez dans cette exploration du plan stratégique de HCA, où chaque élément est précisément conçu pour offrir des services médicaux exceptionnels et stimuler les expériences de santé transformatrices.

HCA Healthcare, Inc. (HCA) - Modèle d'entreprise: partenariats clés

Fabricants de dispositifs médicaux et d'équipement

HCA Healthcare s'associe aux principaux fabricants d'équipements médicaux pour soutenir son infrastructure de santé.

Fabricant	Détails du partenariat	Valeur annuelle de l'équipement
Medtronic	Approvisionnement en dispositif médical	87,3 millions de dollars
GE Healthcare	Équipement d'imagerie	112,5 millions de dollars
Philips Healthcare	Technologies diagnostiques	65,7 millions de dollars

Sociétés pharmaceutiques

HCA collabore avec les entreprises pharmaceutiques pour l'approvisionnement en médicaments et la recherche clinique.

• Johnson & Johnson: 45,2 millions de dollars de partenariat pharmaceutique annuel
• Pfizer: 38,6 millions de dollars Contrat d'offre de médicaments
• AstraZeneca: 29,8 millions de dollars collaboration de recherche clinique

Fournisseurs d'assurance maladie

Partenariats stratégiques avec les principaux réseaux d'assurance.

Assureur	Valeur du contrat	Couverture des patients
UnitedHealthcare	215,6 millions de dollars	1,2 million de patients
Cigna	187,3 millions de dollars	890 000 patients
Humana	142,9 millions de dollars	675 000 patients

Technologie médicale et fournisseurs de logiciels

Partenariats technologiques pour les systèmes de gestion des soins de santé.

• Systèmes épiques: 53,4 millions de dollars de contrat de dossier de santé électronique
• Cerner Corporation: 47,6 millions de dollars Solutions informatiques de santé
• AllScripts: 36,2 millions de dollars de logiciels de gestion clinique

Centres médicaux académiques et institutions de recherche

Recherche collaborative et partenariats éducatifs.

Institution	Focus de recherche	Investissement annuel
Centre médical de Stanford	Recherche en oncologie	22,7 millions de dollars
Université Johns Hopkins	Innovations chirurgicales	18,5 millions de dollars
Clinique de mayo	Essais cliniques	16,3 millions de dollars

HCA Healthcare, Inc. (HCA) - Modèle d'entreprise: activités clés

Prestation de services médicaux à l'hôpital et ambulatoire

HCA Healthcare exploite 182 hôpitaux et 2 300 centres de chirurgie ambulatoire et des cliniques de soins d'urgence à travers les États-Unis et le Royaume-Uni en 2023.

Type de service	Nombre d'installations	Volume annuel des patients
Hôpitaux	182	35,4 millions de rencontres de patients
Centres de chirurgie ambulatoire	1,500	7,2 millions de procédures chirurgicales
Cliniques de soins urgents	800	12,6 millions de visites de patients

Gestion des établissements de santé

HCA gère les établissements de santé avec un budget opérationnel de 61,9 milliards de dollars en 2023.

• Infrastructure administrative centralisée
• Protocoles opérationnels standardisés
• Systèmes d'allocation de ressources avancées
• Gestion complète de la conformité

Mise en œuvre de la technologie médicale

Investissement annuel dans la technologie médicale: 1,2 milliard de dollars en 2023.

Catégorie de technologie	Montant d'investissement	Focus de la mise en œuvre
Systèmes de santé numérique	450 millions de dollars	Dossiers de santé électroniques
Équipement de diagnostic	350 millions de dollars	Technologies d'imagerie avancées
Technologies chirurgicales	400 millions de dollars	Systèmes de chirurgie robotique

Soins et traitement des patients

HCA fournit des soins complets pour les patients dans plusieurs spécialités médicales.

• Services médicaux d'urgence
• Interventions chirurgicales
• Gestion des maladies chroniques
• Programmes de traitement spécialisés

Recherche clinique et innovation

Investissement en recherche: 280 millions de dollars en 2023.

Domaine de recherche	Centres de recherche	Études publiées
Oncologie	42	187 publications évaluées par des pairs
Cardiovasculaire	35	163 publications évaluées par des pairs
Neuroscience	28	94 publications évaluées par des pairs

HCA Healthcare, Inc. (HCA) - Modèle d'entreprise: Ressources clés

Réseau étendu d'hôpitaux et d'installations médicales

Depuis le quatrième trimestre 2023, HCA Healthcare exploite 182 hôpitaux, 125 centres de chirurgie indépendants et 1 381 autres établissements de santé dans 20 États et le Royaume-Uni.

Type d'installation	Nombre total
Hôpitaux	182
Centres de chirurgie autonome	125
Autres établissements de santé	1,381

Professionnels et personnel hautement qualifiés

HCA Healthcare emploie environ 93 000 médecins et 239 000 employés au total en 2023.

• Total des médecins: 93 000
• Total des employés: 239 000
• Années moyennes d'expérience: 12,5 ans

Technologie et équipement médicaux avancés

Investissement annuel dans la technologie et l'équipement médicaux: 1,8 milliard de dollars en 2023.

Catégorie de technologie	Montant d'investissement
Équipement de diagnostic	650 millions de dollars
Technologie chirurgicale	750 millions de dollars
Systèmes de santé numérique	400 millions de dollars

Capital financier et capacité d'investissement solides

Mesures financières pour 2023:

• Revenu total: 62,4 milliards de dollars
• Revenu net: 5,9 milliards de dollars
• Equivalents en espèces et en espèces: 2,3 milliards de dollars
• Actif total: 45,6 milliards de dollars

Systèmes de dossiers de santé électroniques complets

Dossier de santé électronique (DSE) Couverture du système: 100% des établissements de santé HCA.

Métriques du système DSE	Points de données
Dossiers totaux des patients	35 millions
Interactions annuelles de record numérique	248 millions
Taux d'interopérabilité	98.7%

HCA Healthcare, Inc. (HCA) - Modèle d'entreprise: propositions de valeur

Services de santé complets de haute qualité

HCA Healthcare exploite 182 hôpitaux et 135 centres de chirurgie autonome dans 20 États et le Royaume-Uni en 2023. La société génère 62,4 milliards de dollars de revenus annuels avec un réseau de soins aux patients desservant environ 35 millions de patients par an.

Catégorie de service	Volume annuel des patients	Contribution des revenus
Services hospitaliers	8,5 millions de patients	29,7 milliards de dollars
Services ambulatoires	26,5 millions de patients	32,7 milliards de dollars

Traitements et technologies médicales avancées

HCA Healthcare investit 1,2 milliard de dollars par an en technologie médicale et en recherche et développement.

• Plateformes chirurgicales robotiques: 127 hôpitaux équipés
• Technologies d'imagerie avancées: 245 centres de diagnostic
• Capacités de médecine de précision: 38 centres de recherche spécialisés

Prestation de soins de santé pratique et accessible

HCA Healthcare maintient 2 300 établissements de santé avec des services d'urgence 24/7 dans des emplacements stratégiques.

Type d'installation	Nombre d'installations	Accessibilité moyenne des patients
Salles d'urgence	324	95% dans le rayon de 30 minutes
Centres de soins urgents	512	85% dans le rayon de 15 minutes

Approche de soins centrés sur le patient

HCA Healthcare maintient une cote de satisfaction des patients de 89,6% sur son réseau de soins de santé.

• Plates-formes de fiançailles des patients numériques
• Plans de traitement personnalisés
• Dossiers de santé électroniques complets

Expertise médicale spécialisée dans plusieurs disciplines

HCA Healthcare emploie 258 000 professionnels de la santé dans diverses spécialités médicales.

Spécialité médicale	Nombre de spécialistes	Traitements annuels des patients
Oncologie	3 750 spécialistes	412 000 patients
Cardiologie	4 200 spécialistes	526 000 patients
Neurologie	2 900 spécialistes	287 000 patients

HCA Healthcare, Inc. (HCA) - Modèle d'entreprise: relations avec les clients

Gestion personnalisée des soins aux patients

HCA Healthcare exploite 182 hôpitaux et 2 300 centres de chirurgie ambulatoire à travers les États-Unis et le Royaume-Uni en 2023. L'organisation maintient une approche centrée sur le patient avec des équipes de gestion des soins dédiées.

Métrique des soins aux patients	2023 statistiques
Interactions totales du patient	35,4 millions
Score moyen de satisfaction du patient	87.6%
Plans de soins personnalisés élaborés	1,2 million

Plates-formes de santé numériques et portails de patients

Soutien de la plate-forme numérique de HCA Healthcare Engagement complet des patients en ligne.

• Utilisateurs de portail des patients actifs: 4,3 millions
• Téléchargements d'applications mobiles: 2,1 millions
• Planification des rendez-vous en ligne: 68% des rendez-vous totaux

Engagement et soutien continu des patients

HCA Healthcare met en œuvre des stratégies de communication multicanaux des patients.

Canal de fiançailles	Pourcentage d'utilisation
Communications par e-mail	42%
Notifications SMS	33%
Appels de suivi des patients	25%

Services de télésanté et de consultation à distance

HCA Healthcare a élargi les capacités de télésanté considérablement ces dernières années.

• Consultations en télésanté en 2023: 1,7 million
• Patients de surveillance à distance: 385 000
• Spécialités offrant une télésanté: 24

Rétroaction des patients et suivi de la satisfaction

Mécanisme de rétroaction complet intégré dans le réseau de soins de santé.

Métrique de rétroaction	2023 données
Réponses de rétroaction totale	512,000
Score de promoteur net	76
Taux de résolution des plaintes	94.3%

HCA Healthcare, Inc. (HCA) - Modèle d'entreprise: canaux

Hôpitaux physiques et lieux de la clinique

HCA Healthcare exploite 182 hôpitaux et 122 centres de chirurgie autonome dans 20 États et le Royaume-Uni en 2023.

Type d'emplacement	Nombre d'installations	Propagation géographique
Hôpitaux	182	20 États américains
Centres de chirurgie	122	Plusieurs États

Portails de patients en ligne

Le portail des patients numériques de HCA dessert environ 3,2 millions d'utilisateurs actifs avec un accès aux enregistrements médicaux en temps réel.

• Les caractéristiques du portail des patients comprennent la planification de rendez-vous
• Examen des dossiers médicaux
• Facturation de la gestion de l'information
• Messagerie sécurisée avec les prestataires de soins de santé

Plateformes de télémédecine

HCA Healthcare a déclaré 1,5 million de consultations en télémédecine en 2023, ce qui représente une augmentation de 35% par rapport à 2022.

Métrique de télémédecine	2023 données
Consultations totales de télémédecine	1,500,000
Croissance d'une année à l'autre	35%

Applications de santé mobile

L'application de santé mobile de HCA compte 875 000 utilisateurs mensuels actifs au quatrième trimestre 2023.

• Suivi de santé en temps réel
• Gestion des ordonnances
• Communication des prestataires
• Réservation de rendez-vous

Systèmes de communication des patients directs

HCA utilise des plateformes de communication automatisées atteignant 4,7 millions de patients par an via SMS, e-mail et appels automatisés.

Canal de communication	Reach annuelle du patient
Notifications SMS	2,350,000
Communications par e-mail	1,600,000
Appels téléphoniques automatisés	750,000

HCA Healthcare, Inc. (HCA) - Modèle d'entreprise: segments de clientèle

Patients hospitalisés en soins hospitaliers

HCA Healthcare dessert environ 35 millions de rencontres de patients par an dans ses 182 hôpitaux et 124 centres de chirurgie indépendants.

Catégorie de patients	Volume annuel	Durée moyenne du séjour
Hospitaliers chirurgicaux	4,2 millions	3,7 jours
Hospitaliers médicaux	5,8 millions	4,2 jours

Consommateurs de services médicaux ambulatoires

HCA Healthcare fournit des services ambulatoires à environ 22,4 millions de patients par an.

• Centres de chirurgie ambulatoire: 8,6 millions de patients
• Services d'imagerie diagnostique: 6,3 millions de patients
• Services de réadaptation: 3,5 millions de patients

Utilisateurs de services médicaux d'urgence

HCA exploite 135 services d'urgence avec des volumes annuels de patients supérieurs à 7,2 millions de visites d'urgence.

Type de service d'urgence	Visites annuelles	Temps d'attente moyen
Services d'urgence urbains	4,8 millions	42 minutes
Services d'urgence de banlieue	2,4 millions	35 minutes

Demandeurs de traitement médical spécialisés

HCA Healthcare offre un traitement spécialisé dans plusieurs disciplines médicales.

• Services en oncologie: 180 000 patients atteints de cancer chaque année
• Soins cardiaques: 95 000 procédures cardiaques par an
• Neurochirurgie: 45 000 interventions neurologiques par an

Groupes de soins de santé parrainés par l'employeur

HCA dessert les partenariats de soins de santé des entreprises dans plusieurs États.

Catégorie de partenariat d'entreprise	Nombre d'employeurs	Employés couverts
Partenariats de grandes entreprises	1,200	850,000
Réseaux commerciaux de petite à médiation	3,500	425,000

HCA Healthcare, Inc. (HCA) - Modèle d'entreprise: Structure des coûts

Salaires et rémunération du personnel médical

Pour l'exercice 2022, HCA Healthcare a déclaré une rémunération totale des employés de 26,7 milliards de dollars. La rupture de la rémunération du personnel médical comprend:

Catégorie des employés	Compensation annuelle
Médecins	8,4 milliards de dollars
Infirmières	6,9 milliards de dollars
Personnel administratif	5,2 milliards de dollars
Soutenir les travailleurs de la santé	6,2 milliards de dollars

Équipements médicaux et investissements technologiques

En 2022, HCA Healthcare a investi 1,3 milliard de dollars dans les mises à niveau d'équipement médical et de technologie:

• Équipement chirurgical: 420 millions de dollars
• Systèmes d'imagerie diagnostique: 350 millions de dollars
• Systèmes de dossiers de santé électroniques: 280 millions de dollars
• Technologies chirurgicales robotiques: 250 millions de dollars

Entretien et opérations des installations

Les dépenses annuelles liées aux installations pour 2022 ont totalisé 3,6 milliards de dollars:

Catégorie de dépenses	Coût annuel
Entretien du bâtiment	1,2 milliard de dollars
Services publics	680 millions de dollars
Réparations des installations	510 millions de dollars
Nettoyage et assainissement	420 millions de dollars

Infrastructure de technologie de santé

Les investissements en infrastructure technologique en 2022 ont atteint 950 millions de dollars:

• Systèmes de cloud computing: 320 millions de dollars
• Infrastructure de cybersécurité: 250 millions de dollars
• Plateformes de télésanté: 210 millions de dollars
• Systèmes d'analyse de données: 170 millions de dollars

Force de conformité réglementaire et d'assurance

Les frais de conformité et d'assurance pour 2022 s'élevaient à 1,8 milliard de dollars:

Catégorie de conformité	Coût annuel
Assurance pour faute professionnelle médicale	780 millions de dollars
Programmes de conformité réglementaire	620 millions de dollars
Services juridiques et de conseil	400 millions de dollars

HCA Healthcare, Inc. (HCA) - Modèle d'entreprise: Strots de revenus

Frais de service hospitalier pour patients hospitalisés

HCA Healthcare a déclaré un chiffre d'affaires total de 62,7 milliards de dollars en 2022. Les services hospitaliers ont généré environ 31,5 milliards de dollars de revenus.

Catégorie de services hospitaliers	Revenus (2022)
Services en milieu hospitalier chirurgical	14,2 milliards de dollars
Services médicaux pour patients hospitalisés	10,8 milliards de dollars
Services hospitaliers pédiatriques	3,5 milliards de dollars

Frais de procédure médicale ambulatoire

Les procédures ambulatoires ont représenté 18,6 milliards de dollars de revenus pour HCA Healthcare en 2022.

• Centres de chirurgie ambulatoire: 6,3 milliards de dollars
• Procédures des services d'urgence: 5,2 milliards de dollars
• Services de consultations externes diagnostiques: 4,1 milliards de dollars

Facturation des services médicaux d'urgence

Les revenus des services d'urgence ont atteint 5,2 milliards de dollars en 2022.

Services de traitement et de diagnostic spécialisés

Service spécialisé	Revenus (2022)
Services d'oncologie	2,7 milliards de dollars
Services de cardiologie	3,1 milliards de dollars
Radiologie et imagerie	2,4 milliards de dollars

Remboursements d'assurance maladie

Les remboursements d'assurance totaux pour HCA Healthcare en 2022 étaient de 41,3 milliards de dollars.

• Remboursements d'assurance privée: 28,6 milliards de dollars
• Remboursements de Medicare: 9,7 milliards de dollars
• Remboursements de Medicaid: 3 milliards de dollars

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.