CCommunity Health Systems operates general acute care hospitals across 14 states, owning or leasing 71 facilities to deliver healthcare outside urban centers. Its main business is running hospital networks and providing medical and surgical services to patients, funded by payments from patients, insurers, and government programs like Medicare and Medicaid. The company also offers management services to its affiliates through a professional services corporation. Its workflow centers on developing and operating healthcare delivery systems, supporting a wide range of needs from emergency care to specialized treatments. The goal is to help people get well and live healthier by providing accessible non-urban and suburban hospital-based care while navigating a regulated, competitive US healthcare market.
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Industries
Company Size
5,001-10,000
Company Stage
IPO
Headquarters
Franklin, TN
Founded
1985
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Total Funding
$4.5B
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Community Health Systems shareholders lost 45.5% over the past year, including dividends. The shares cost $3.88 at the start of the period and now trade at $2.10. Third-quarter 2026 revenue fell to $2,757m from $3,087m a year earlier. Net income swung from a $130m profit to an $86m loss. A bullish case put fair value at $4.99, assuming 2.9% annual revenue growth and margins rising to 0.9%. A bearish case set it at $2.50, assuming 1.4% growth and pressure from a weaker rural payer mix. The company is expanding outpatient care, recruiting providers, and selling assets to reshape volumes, mix, and debt.
CHS execs hope ASC investments, surgery volume recovery will make for better 2027. Community Health Systems Inc. (NYSE: CYH) executives are still holding out hope that patients will stop deferring high-margin, elective surgical procedures such as joint replacements. However, they are now expecting the volume woes that have plagued CHS and other health systems to continue for the remainder of 2026. In the meantime, leaders of the Franklin, Tennessee-based health system are working to diversify their business - an effort that includes investing in ambulatory surgery centers (ASCs). "We remain focused on disciplined capital allocation, strategically expanding high-return outpatient entry points... including ASCs, urgent care centers, freestanding EDs [emergency departments], and targeted physician practices," CEO Kevin Hammons said during CHS's third-quarter earnings call on Oct. 29. While overall same-store surgeries increased 2% year over year, demand among commercially insured patients for elective procedures remained below expectations, CFO Jason Johnson said. As a result of that trend and "elevated uninsured volumes," overall financial results fell below CHS's expectations for the third quarter, Hammons said. CHS recorded an adjusted net loss of 48 cents per share for the three months that ended on Sept. 30, compared with net income of $1.27 per share for the same period in 2025. That missed the Wall Street consensus estimate of a 22-cent-per-share loss. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $280 million compared with $376 million for the same period in 2025. And the company's net operating revenue of $2.76 billion came in below the consensus estimate of $2.78 billion. Based on those results, CHS lowered its full-year guidance ranges for operating revenues (now $11.3 billion to $11.5 billion), adjusted EBITDA ($1.225 billion to $1.275 billion) and adjusted earnings per share (-$1.70 to -$1.60). "The guidance reflects our updated views of the impact from higher uncompensated care trends as a result of coverage loss, and the softness we have observed in commercial elective demand through the end of the year," Johnson said. Missing high-margin procedures. Later during the call, Hammons reiterated his previous theory that patients with high copays and deductibles were deferring elective surgeries due to economic concerns. But he said CHS executives didn't see as much of that deferred care returning in the third quarter as they originally expected - even if office visits and MRI rates continue to suggest the demand for surgeries is there. "Ultimately, we think that it comes back into the system, because when you need a joint replacement, it is not going to heal on its own," he said. Promisingly, CHS saw cardiovascular and gastrointestinal procedures tick up in the quarter, according to Hammons. But he also pointed out that some cardiovascular procedures can be low margin because of the high cost of associated medical devices. "What we were short on were the elective orthopedic and elective general surgery type procedures that are our higher margin business," he said. Betting on outpatient investments. Looking ahead to 2027, CHS executives expect to see tailwinds from solid commercial rate updates and from the federal inpatient and outpatient regulations, if they're finalized as proposed, Hammons said. The health system's leaders also expect some of the deferred care to return next year, supporting better volume and a stronger payer mix. "The payer and service mix improvements we expect to be further supported by the investments that we've made in outpatient and ASC footprint, including the material acquisition of an ASC we discussed in the second quarter, and three other acquisitions or de novo openings this year, as well as the recent physician recruitment activity and improved retention," Hammons said. CHS acquired the Surgical Institute of Alabama, the state's largest multispecialty ASC, in the second quarter. And the health system isn't done investing in ASCs. The biggest barrier in that capital-deployment effort, Hammons said, is ensuring CHS is aligned with the right physician groups. "I would anticipate us continuing to make progress in those ambulatory sites over the course of the remaining year - and certainly well into next year and beyond," he said.
Community Health Systems, Inc. announces promotion of Kim Neal to Vice President of Operations for Community Senior Life. ORANGE BEACH, Ala. - October 28, 2026 - Community Health Systems, Inc., is pleased to announce the promotion of Kim Neal to Vice President of Operations for Community Senior Life. In this leadership role, Neal will provide strategic and operational oversight for Community Senior Life's senior living communities, with a continued focus on operational excellence, financial performance, resident satisfaction, and organizational growth. Neal has been an integral part of Community Senior Life's leadership team since 2018, demonstrating a strong commitment to enhancing the quality of life for seniors while fostering a culture of accountability, employee engagement, and exceptional resident care. Her leadership has contributed to strengthening operations, improving financial performance, and positioning the organization for continued success in an evolving senior living industry. "Ms. Neal's performance and leadership during her tenure with the organization made this promotion inevitable. Her passion for resident care and compliance, her commitment to a healthy company culture, and her willingness to work alongside staff have made us a demonstrably better senior care provider every day," said Doug Warren, President and Chief Executive Officer of Community Health Systems, Inc. "Since 2018, Kim Neal has proven to be a leader amongst her peers and in the senior living industry. With resident safety and employee satisfaction at the top of her concerns, she has continued to maintain both while improving the financial position of the communities she oversees. I am proud to have her as our new Vice President of Operations for Community Senior Life," said Nick Wilmott, Chief Strategy Officer for Community Health Systems, Inc. "I am incredibly honored to step into this role and continue serving an organization and a team that I believe in so strongly," said Neal. "Throughout my career, I have always believed that successful operations begin with taking care of people - our residents, their families, and the employees who serve them every day. I am proud of what our teams have accomplished together and excited about the opportunities ahead as we continue to strengthen our communities, develop our leaders, and expand the ways we serve seniors throughout Alabama." With more than 25 years of executive leadership experience in healthcare, Neal brings an extensive background in operations, strategic planning, marketing, communications, business development, and public relations. Her career spans multiple healthcare sectors, including senior living, hospital systems, and physician clinic networks, providing her with a comprehensive understanding of healthcare operations and organizational strategy. Neal earned her Master of Business Administration from Louisiana State University Shreveport and her bachelor's degree in interdisciplinary studies from the University of South Alabama. She holds a Level II Assisted Living Administrator License and an Alabama Real Estate Broker's License. Throughout her career, Neal has received recognition for her professional accomplishments and contributions to the community. She was named a Baldwin County Mover and Shaker by Business Alabama magazine and is a recipient of the Community Senior Life President's Award. Beyond her organizational leadership, Neal is actively involved in advancing the senior living industry throughout Alabama. She serves on the Board of Directors for the Assisted Living Association of Alabama (ALAA), where she chairs both the Legislative/Regulatory Committee and the association's Political Action Committee (ALAAPAC). Through these roles, she advocates for policies that support senior living providers, protect residents, and strengthen the future of assisted living across the state. In her new role, Neal will continue to advance Community Senior Life's mission through strategic growth initiatives, operational innovation, leadership development, and a steadfast commitment to providing exceptional living experiences for seniors. About Community Senior Life Community Senior Life, a division of Community Health Systems, Inc., is a not-for-profit senior living organization providing independent living, assisted living, and memory care services throughout Alabama. Its communities include Live Oak Village in Foley, Homestead Village of Fairhope, Haven Memory Care in Gulf Shores, and The Madison Village in Madison. Community Senior Life is committed to enriching the lives of seniors through compassionate care, meaningful relationships, and a dedication to quality and service.
CHS Q3 revenue falls 11% as divestitures reshape portfolio. By: Alan Condon Franklin, Tenn.-based Community Health Systems reported an operating income of $146 million (5.3% margin) in the third quarter, down from a $243 million operating gain (7.9% margin) in the same quarter last year, according to financial results published Oct. 29. After accounting for interest and income tax expenses, the 59-hospital, for-profit system posted a net loss of $86 million (-3.1% margin) in the third quarter, down from a $130 million net gain (4.2% margin) in the same period in 2025. Hospital divestitures, an unfavorable payer mix and higher medical specialist costs weighed on the health system' financial results. "We are pleased to make continued progress on our strategic initiatives around quality outcomes, patient satisfaction, physician experience, and employee satisfaction and remain confident these investments will lead to improved financial performance," CHS CEO Kevin Hammons said in a news release. "While volume trends and cash flow improved sequentially in the third quarter, payor mix and acuity did not develop as expected due to the challenging macro environment, negatively impacting financial results for the third quarter and our expectations for the remainder of the year." CHS reported $2.8 billion in net operating revenue for the quarter ended Sept. 30, down 11% from $3.1 billion during the same period in 2025, according to an Oct. 28 earnings release. Adjusted EBITDA fell 25.5% year over year to $280 million from $376 million. The revenue decline largely reflects CHS' ongoing hospital divestitures. On a same-store basis, revenue increased 3.8% year over year, admissions rose 2.2% and adjusted admissions increased 3.6%. Operating cash flow increased to $155 million from $70 million in the prior-year period. CHS attributed the year-over-year decline in adjusted EBITDA primarily to divestitures, unfavorable payer mix, lower nonpatient revenue and higher medical specialist fees and supplemental reimbursement program expenses. Increased volumes and reimbursement rates partially offset those pressures. For the first nine months of 2026, CHS reported $8.55 billion in revenue, down 8.9% year over year, and a $74 million net loss, compared with $399 million in net income during the same period in 2025. Adjusted EBITDA declined to $918 million from $1.13 billion. The company updated its full-year 2026 guidance to $11.3 billion to $11.5 billion in net operating revenue, $1.23 billion to $1.28 billion in adjusted EBITDA and a diluted net loss of $1.60 to $1.70 per share. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker's is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit We think you might like
Community Health Systems (NYSE: CYH) reported a third-quarter net loss of $86 million, or $0.63 per diluted share, against net income of $130 million a year earlier. Net operating revenues fell 10.7% to $2.757 billion from $3.087 billion, mainly due to hospital divestitures. Adjusted EBITDA dropped to $280 million from $376 million. On a same-store basis, revenues rose 3.8%. Chief executive officer Kevin J. Hammons said payor mix and acuity did not develop as expected in a challenging macro environment, hurting results and expectations for the rest of the year. Operating cash flow rose to $155 million from $70 million. For the nine months, the company posted a net loss of $74 million on revenues of $8.547 billion.
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Industries
Company Size
5,001-10,000
Company Stage
IPO
Headquarters
Franklin, TN
Founded
1985
Find jobs on Simplify and start your career today
Don't see your dream role? Check out thousands of other roles on Simplify.Browse all jobs