Overview of the Financial Performance of Nevada’s Health Care Industry

Many Nevadans report experiencing financial hardship due to hospital costs and even more worry about affording health care now and in the future. 65% of Nevada adults reported experiencing health care affordability burdens in 2022, with healthcare spending per person in Nevada growing 29% between 2013 and 2021. Despite many Nevadans still struggling with health care affordability, Nevada’s health care industry is faring well financially. Nevada health care insurers’ premiums are growing at significantly higher rates than the insurance claims of covered Nevadans, contributing to several companies’ record-breaking profits in recent years. Concurrently, Nevada hospitals’ patient revenues have grown faster than operating expenses, leading to growing profits and profit margins at the expense of people’s wallets. 

The overview below outlines the financial performance of Nevada health insurance companies, hospitals, and health systems and the impact of these financial practices on the health care costs of Nevada families.