The year 2025 in the healthcare services sector was defined by a stark bifurcation in performance between providers and payers, driven by a combination of elevated utilization trends, Medicaid acuity shifts, and shifting reimbursement landscapes. While provider shares, particularly hospitals and post-acute facilities, experienced significant tailwinds, the payer sector faced a “hydraulic press” on margins due to tightened Medicaid eligibility and sicker-than-expected risk pools. By the end of the year, the median return for hospital stocks stood at approximately 13%, while value-based care entities plummeted with a median decline of 43%.
Read the full article: PitchBook Q4 2025 Healthcare Services Public Comp Sheet and Valuation Guide //
Source: https://pitchbook.com/news/reports/q4-2025-healthcare-services-public-comp-sheet-and-valuation-guide