Denver-area Hospitals Report Mixed Financial Results for 2024

According to a recent report, three out of six Denver-area health systems had a successful financial year in 2024. However, the hospitals themselves dispute this portrayal of their financial health.

The 2025 Colorado Health Market Review primarily focuses on total profits, which saw an increase for most health systems in the state. Allan Baumgarten, the report’s author and a healthcare consultant, argues that excluding income from investments, government grants, and philanthropy underestimates the hospitals’ true financial resources.

On the other hand, the Colorado Hospital Association and its member health systems emphasize the importance of operating margin, which highlights the difference between the actual cost of patient care and the reimbursement received for it.

Despite differences in how financial health is measured, the report found that total profits for Denver-area hospitals increased by about 14% in 2024, reaching a combined $1.3 billion. UCHealth led with a profit of approximately $1.2 billion, followed by HCA HealthOne at $616.8 million and CommonSpirit Health at $222.2 million.

While some hospitals reported profits, others faced losses. Denver Health, AdventHealth, and Intermountain Health all had unprofitable years in 2024.

Looking ahead, the report predicts challenges for hospitals, especially in rural areas, as more uninsured patients are expected to seek care. Financially struggling rural hospitals may consider joining larger health systems to improve their bargaining power and access to resources.

Denver-area Hospital Systems’ Financial Performance in 2024:

• AdventHealth: $68.6 million loss, -4.5% margin
• CommonSpirit Health: $222.2 million profit, 9.2% margin
• Denver Health: $52.9 million loss, -4.1% margin
• HCA HealthOne: $616.8 million profit, 21.3% margin
• Intermountain Health: $138.3 million loss, -6.5% margin
• UCHealth: $1.2 billion profit, 17.9% margin

Source: 2025 Colorado Health Market Review

Despite financial challenges, hospitals are preparing for an increase in uninsured patients. Larger health systems are expected to weather the storm, while smaller hospitals may face greater difficulties in the current healthcare landscape.

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