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Sankey diagram of HCA Healthcare, Inc.. A complete text table follows the diagram.
Commercial insurance remains the largest payer, but Medicare channels fund more than one-third of the hospital network's quarterly revenue.
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All flows are reported filing values. The payer mix is an editorial lens on HCA's business model; the expense bridge reconciles those revenues and separately reported equity earnings to GAAP pretax and attributable net income.
Labels and narrative explain the filing. A category marked “arithmetic bridge” or “residual” is calculated from reported totals, rather than a separately reported line.
| Category | Stage | Value | Notes |
|---|---|---|---|
| Managed care & insurers | 1 | $9.1B | 47.5% of revenue |
| Traditional Medicare | 1 | $3.1B | 16.0% of revenue |
| Managed Medicare | 1 | $3.5B | 18.4% of revenue |
| Traditional Medicaid | 1 | $1.4B | 7.6% of revenue |
| Managed Medicaid | 1 | $939M | 4.9% of revenue |
| International insurers | 1 | $499M | 2.6% of revenue |
| Other payers | 1 | $577M | 3.0% of revenue |
| Patient and other revenue | 2 | $19.1B | 189 hospitals at quarter end |
| Equity-method earnings | 2 | $9M | Affiliated facilities |
| Revenue and affiliate earnings | 3 | $19.1B | Before hospital and financing costs |
| Income before tax | 4 | $2.3B | 12.0% of revenue |
| Salaries & benefits | 4 | $8.3B | 43.3% of revenue |
| Medical supplies | 4 | $2.9B | 14.9% of revenue |
| Other operating expense | 4 | $4.2B | 21.9% of revenue |
| Depreciation & amortization | 4 | $930M | Hospital asset base |
| Interest expense | 4 | $584M | Financing cost |
| Facility-sale loss | 4 | $1M | Reported noncore item |
| Consolidated net income | 5 | $1.9B | 9.7% of revenue |
| Income tax | 5 | $430M | 18.8% effective rate |
| HCA attributable income | 6 | $1.6B | For common shareholders |
| Noncontrolling interests | 6 | $237M | Partners' share of facilities |
| From | To | Value |
|---|---|---|
| Managed care & insurers | Patient and other revenue | $9.1B |
| Traditional Medicare | Patient and other revenue | $3.1B |
| Managed Medicare | Patient and other revenue | $3.5B |
| Traditional Medicaid | Patient and other revenue | $1.4B |
| Managed Medicaid | Patient and other revenue | $939M |
| International insurers | Patient and other revenue | $499M |
| Other payers | Patient and other revenue | $577M |
| Patient and other revenue | Revenue and affiliate earnings | $19.1B |
| Equity-method earnings | Revenue and affiliate earnings | $9M |
| Revenue and affiliate earnings | Income before tax | $2.3B |
| Revenue and affiliate earnings | Salaries & benefits | $8.3B |
| Revenue and affiliate earnings | Medical supplies | $2.9B |
| Revenue and affiliate earnings | Other operating expense | $4.2B |
| Revenue and affiliate earnings | Depreciation & amortization | $930M |
| Revenue and affiliate earnings | Interest expense | $584M |
| Revenue and affiliate earnings | Facility-sale loss | $1M |
| Income before tax | Consolidated net income | $1.9B |
| Income before tax | Income tax | $430M |
| Consolidated net income | HCA attributable income | $1.6B |
| Consolidated net income | Noncontrolling interests | $237M |