Healthcare
Healthcare Providers
Payers dwarf hospitals and labs
UnitedHealth $447.6 billion and CVS $402.1 billion are dual-home platforms. HCA $75.6 billion is the hospital operator. Labcorp $14.0 billion and Quest $11.0 billion are national labs. Do not read the first two bars as hospital revenue.
UnitedHealth: do not add the bars
2025 UnitedHealthcare $344.9 billion and Optum $270.6 billion include affiliated revenue. Eliminations were $168.0 billion. Consolidated $447.6 billion. CMS premiums were 44 percent of consolidated revenue.
HCA is a managed-care hospital
2025: managed care and other insurers $37.0 billion (48.9 percent). Medicare plus Managed Medicare $24.7 billion. Medicaid plus Managed Medicaid $9.6 billion. Admissions 2.30 million.
CVS is three piles before eliminations
2025 segment revenues: Health Services $190.4 billion, Health Care Benefits $143.4 billion, Pharmacy and Consumer Wellness $139.4 billion. Consolidated $402.1 billion after intersegment eliminations. Do not add the bars.
