Money-Making States

It goes without saying how vital the healthcare industry is to the U.S. Despite how easy it is to buy affordable medication online, going to hospitals for check-ups and emergencies is crucial for your long-term health.

Not only is the healthcare industry important for the well-being of U.S. citizens, but it’s also a lucrative business for investors. That’s why we wanted to find out which states earn the most money through their hospitals. We’ve looked at the individual hospitals earning the most through net patient revenue, the states with the most for-profit hospitals, and the states who earn the most through their hospitals.

Hospitals Making the Most Money

We’ve looked at the net patient revenue of individual hospitals to find out which hospitals make the most money.

1. New York-Presbyterian/Weill Cornell Medical Center

$5.73bn net patient revenue

The hospital making the most money is the New York Presbyterian/Weill Cornell Medical Center, which made just over $5.73 billion from patient revenue in 2021. The Weill Cornell Medical Center is one of eight campuses that make up the New York Presbyterian. This specific campus specializes in epilepsy, Alzheimer’s disease, and stroke.

2. Tisch Hospital

$5.67bn net patient revenue

In second place is Tisch Hospital which is part of NYU Langone Health. Tisch Hospital made $5.6 billion from patient revenue in 2021 and is ranked as the best hospital in New York, and the third best in the U.S.

3. Cleveland Clinic Main Campus

$5.24b net patient revenue 

Completing our top three is Cleveland Clinic Main Campus which earned $5.24 billion in 2021. Cleveland Clinic is considered one of the best hospitals in the U.S. and was even the first hospital in America to perform a face transplant. Cleveland Clinic has also made a number of medical breakthroughs, including coronary artery bypass surgery.

States with the Highest Percentage of For-Profit Hospitals

For-profit hospitals are hospitals owned by at least one investor, and we wanted to find out which states in the U.S. have the highest percentage of these.

1. Nevada – 54.3% of for-profit hospitals 

Nevada is the state with the most for-profit hospitals. 54.3% of the hospitals in Nevada are for-profit, compared to 32.6% which are non-profit, and just 13% which are controlled by the state or local government. 

2. Texas – 51.8% for-profit hospitals 

Texas is in second place with 51.8% of hospitals being investor-owned. Texas also has the second lowest number of non-profit hospitals at 29.3%. Only Wyoming has less at 17.9%. 18.9% of the hospitals in Texas are owned by the state or local government, which is the highest among our top three.

3. Florida – 48.1% for-profit hospitals

Completing our top three is Florida, with 48.1% of hospitals owned by investors. 29.3% of hospitals in Florida are non-profit, and just 9.8% of hospitals are owned by the state or local government which is the second lowest figure in our top ten.

States with the Most For-Profit Hospitals

We wanted to find out which states have the highest total of for-profit hospitals.

1. Texas – 271 for-profit hospitals

Texas takes the top spot with 271 for-profit hospitals. Texas’ total is almost 170 more than any other state, as well as the highest total hospitals with 523. 153 non-profit hospitals and 99 state/local government hospitals make up the remaining 252 hospitals in Texas.

2. Florida – 103 for-profit hospitals

Despite having just the third-highest percentage of for-profit hospitals, Florida clinches second place with the second-highest total. 103 of Florida’s 214 hospitals are for-profit, with 90 non-profit hospitals, and 21 owned by the government/state. 

3. California – 81 for-profit hospitals

Completing our top three is California with 81 for-profit hospitals. Just 22.9% of California’s hospitals are for-profit, which ranks 18th in our previous list. The majority of California’s hospitals are actually non-profit, with a total of 205 which is the highest out of any state in the U.S.

States with the Highest Patient Revenue

We’ve looked at the gross patient revenue across all hospitals in each state to find out which state makes the most.

1. California – $568 billion gross patient revenue 

California takes the top spot here with gross patient revenue of almost $569 billion. California’s total patient revenue is $150 billion more than any other state. California tops the list in each category, with more staffed beds, total discharges, and patient days than any other state.

2. Texas – $411 billion gross patient revenue

Texas takes second place with gross patient revenue of $411 billion. Texas also has almost 60,000 staffed beds, as well as 2.6 million discharges. Only one Texas hospital made the top 10 list of hospitals making the most money, and that was the University of Texas MD Anderson Cancer Center which had a net patient revenue of $3.6 billion.

3. Florida – $401 billion gross patient revenue

Florida completes our top three with gross patient revenue of $401 billion. Like Texas, just one hospital in Florida made the top 10 hospitals making the most money. That was AdventHealth Orlando which earned $4 billion from patient revenue. Despite having fewer staffed beds than fourth-placed New York, Florida had more patient days and discharges.

Methodology

To find out the hospitals making the most money, we used Definitive Healthcare.

We then used KFF to find out the percentage and totals of for-profit hospitals in each state.

Finally, we used American Hospital Directory to find out the states with the highest patient revenue.