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Community Health Systems, Inc. (CYH) is one of the largest healthcare companies in the United States, specializing in the provision of healthcare services through its network of hospitals and outpatient facilities. The company operates in 40 distinct markets across 15 states, offering a wide range of general and specialized medical services. CYH generates revenue by delivering inpatient and outpatient care, supported by its affiliated physicians and healthcare practitioners.
- Outpatient Services - Operates over 1,000 sites of care, including physician practices, urgent care centers, freestanding emergency departments, occupational medicine clinics, imaging centers, cancer centers, and ambulatory surgery centers, providing a broad range of medical services.
- Inpatient Services - Manages 71 affiliated hospitals with approximately 12,000 beds, offering general acute care, emergency room services, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic services, psychiatric care, and rehabilitation.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Jason K. Johnson Executive | Senior Vice President and Chief Accounting Officer | None | Joined CYH in 2012. Promoted to SVP and CAO in 2020. Oversees SEC reporting, accounting policies, and financial reporting. | |
Justin D. Pitt Executive | Executive Vice President, General Counsel, and Assistant Secretary | Member of American Health Lawyers Association; Leaders Council of Legal Services Corporation; Board member of One Willco and The Village at Glencliff. | Joined CYH in 2009. Promoted to EVP in 2022. Oversees legal and government relations. Previously served as Chief Litigation Counsel. | |
Kevin A. Stockton Executive | Executive Vice President of Operations and Development | None | Joined CYH in 2011. Promoted to EVP in 2023. Oversees growth, strategic partnerships, and value-based care models. Previously served as Regional President. | |
Kevin J. Hammons Executive | President and Chief Financial Officer | None | Joined CYH in 1997. Promoted to CFO in 2020 and President in 2021. Oversees financial reporting, capital markets, and corporate finance. Previously worked at Ernst & Young LLP. | |
Miguel S. Benet Executive | President of Clinical Operations and Chief Medical Officer | None | Joined CYH in 2021. Promoted to EVP of Clinical Operations in 2024 and CMO in 2025. Oversees clinical operations and quality initiatives. Former CMO at HCA Healthcare's North Texas Division. | |
Tim L. Hingtgen Executive | Chief Executive Officer | None | CEO of CYH since January 2021. Joined CYH in 2008 and held multiple leadership roles, including COO and President. Recognized as one of Modern Healthcare's 100 Most Influential People in Healthcare in 2022 and 2023. | View Report → |
Elizabeth T. Hirsch Board | Director | Trustee at Devereux Advanced Behavioral Health and Helena Devereux Foundation; Board member of Women\u2019s Business Development Council of Connecticut. | Director at CYH since 2018. Expertise in accounting, financial reporting, and sustainability. | |
Fawn D. Lopez Board | Director | Board member of American Heart Association, Asian Health Care Leaders Association, and Dean\u2019s Advisory Council at DePaul University. | Director at CYH since 2024. Former publisher of Modern Healthcare. Expertise in healthcare media, marketing, and diversity initiatives. | |
H. James Williams, Ph.D. Board | Director | President of Mount St. Joseph University; Board member of non-profit organizations. | Director at CYH since 2015. Expertise in accounting, governance, and higher education leadership. | |
James S. Ely III Board | Director | CEO of PriCap Advisors, LLC. | Director at CYH since 2009. Expertise in financing and risk management. Founder of PriCap Advisors. | |
John A. Clerico Board | Lead Director | Chairman and Registered Financial Advisor at ChartMark Investments, Inc.; Board member at Educational Development Corporation. | Director at CYH since 2003. Extensive experience in financial management and risk oversight. Chairs the Audit and Compliance Committee. | |
John A. Fry Board | Director | President of Drexel University; Board member at vTV Therapeutics, FS Investment Credit REIT, and Macquarie Asset Management. | Director at CYH since 2004. Expertise in governance, financial management, and cybersecurity. President of Drexel University. | |
Joseph A. Hastings, D.M.D. Board | Director | Private practice orthodontist in Mobile, Alabama. | Director at CYH since 2021. Healthcare practitioner with over 37 years of experience. Former board member of Quorum Health Corporation. | |
K. Ranga Krishnan, MBBS Board | Director | Executive Vice Chairman at Rush University System for Health; Professor at Rush Medical College; Member of Singapore\u2019s Health and Biomedical Science Executive Committee. | Director at CYH since 2017. Extensive experience in healthcare management and academia. Former CEO of Rush University System for Health. | |
Michael Dinkins Board | Director | Board member at The Shyft Group, Crane NXT, and NCCI. | Director at CYH since 2017. Chair of the Audit and Compliance Committee. Extensive financial and operational expertise. | |
Ronald L. Burgess, Jr. Board | Director | Special Advisor to the President of Auburn University; Advisory board member for private companies. | Director at CYH since 2023. Former head of the U.S. Defense Intelligence Agency. Expertise in cybersecurity and national security. | |
Susan W. Brooks Board | Director | Board member at First Merchants Corporation, Team Health Holdings, Inc., and Bipartisan Commission on Biodefense. | Director at CYH since 2022. Former U.S. Congresswoman and U.S. Attorney. Expertise in public policy, healthcare, and emergency response. | |
Wayne T. Smith Board | Non-Executive Chairman of the Board | Trustee at Auburn University. | Joined CYH in 1997 as President and later served as CEO until 2020. Became Non-Executive Chairman in 2023. Led CYH's transformation into one of the largest healthcare providers in the U.S.. |
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Given that medical specialist fees increased approximately 12% year-over-year in Q4, exceeding expectations , and you anticipate further pressure in medical specialist fees in 2025 with costs growing 8% to 12% , what specific strategies are you implementing to control these costs, and what gives you confidence that these efforts will offset the expected cost growth?
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You mentioned that the anticipated divestitures in 2025 will generate over $1 billion in total proceeds leading to meaningful deleveraging , but these transactions would also reduce net revenues and EBITDA in 2025 ; how do you plan to compensate for the loss in earnings and maintain growth with a smaller asset base?
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With the uncertainty surrounding the approval and funding of the Medicaid supplemental payment programs in Tennessee and New Mexico, which are not included in your 2025 guidance , and given that the New Mexico program contributed an unexpected $40 million in Q4 2024 , how will further delays or changes in these programs impact your financial performance, and what contingency plans are in place to mitigate this risk?
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Despite projecting lower adjusted EBITDA in 2025 compared to 2024 after excluding the impact of divestitures and DPP funds , you're forecasting an improvement of $150 million to $200 million in operating cash flow ; can you clarify the specific drivers behind this better cash conversion, especially given the expected higher cash interest payments in 2025 ?
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Your guidance suggests achieving mid-single-digit net revenue growth in 2025 driven by 2% to 3% volume growth and similar pricing increases , but with ongoing pressures such as higher medical specialist fees growing 8% to 12% and uncertainties in payer reimbursements, how confident are you in hitting these targets, and what are the key risks that could prevent you from achieving them?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Medicare | Payment for hospital healthcare services through the Medicare program | All | Accounts receivable: $194 million , representing 6% of consolidated net accounts receivable as of December 31, 2023. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Physician Practices, Clinics, and Ancillary Businesses (Asset Acquisition) | 2024 | CYH acquired operating assets and related businesses for approximately $1 million, with the purchase price allocated to working capital and property and equipment and recorded as an asset acquisition (no goodwill recognized). |
American Physician Partners (APP) | 2023 | Following APP’s cessation of operations on July 31, 2023, CYH quickly transitioned over 500 hospital-based providers by taking over APP’s contracts and integrating its administrative team, thereby preventing service disruption and eliminating prior subsidy payments that had adversely affected EBITDA. |
Physician Practices, Clinics, Ambulatory Surgery Centers, and Ancillary Businesses | 2023 | In 2023, CYH executed multiple transactions spending approximately $8 million in Q1, $15 million in the first half, and $35 million YTD in Q3—including about $20 million for APP-related assets—with the purchase price allocated among property and equipment, intangible assets, noncontrolling interests, and goodwill. |
Physician Practices, Clinics, and Ancillary Businesses | 2022 | CYH spent roughly $9 million over nine months (with $1 million in Q1 and $4 million in Q2) on these acquisitions, allocating the purchase price to property and equipment, working capital, noncontrolling interests, and goodwill to expand its presence in communities served by its affiliated hospitals. |
No recent press releases or 8-K filings found for CYH.