Market Analysis — CHRISTUS ST MICHAEL REHAB HOSPITAL
TX market | 5 hospitals | HHI: 5,896 (Concentrated)
🛡️ Public data only — no PHI permitted on this instance.
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5
Hospitals in Market
600
Total Beds
$0.6B
Market Revenue
Concentrated
HHI: 5,896
None
Moat Rating (0/10)
#3
Market Share Rank
Competitive Moat (Mauboussin Framework)
Based on "Measuring the Moat" adapted for healthcare. Score 0-10: wide (8+), narrow (5-7), none (<5).
Scale Advantageweak
Switching Costslow
Market Share4.2%
Top 3 Concentration94.8%
Network Density0.83
Margin vs Market-0.5%
Bed Util vs Market-7.4%
What This Means
This hospital has a none moat — no moat — commoditized market position, pricing power limited. The TX market is highly concentrated — few dominant players, potential antitrust concerns (HHI: 5,896).
Implications: Operational improvements are the primary value driver — see the EBITDA bridge. Compare against peers via comparables or see the full TX market.
Top Competitors
| Hospital | Beds | Revenue | Rev Share | Bed Share |
|---|---|---|---|---|
| CHRISTUS ST MICHAEL | 275 | $437M | 75.0% | 45.8% |
| WADLEY REGIONAL MEDICAL CENTER | 185 | $92M | 15.7% | 30.8% |
| ENCOMPASS HEALTH REHABILITATION HOSP | 60 | $15M | 2.6% | 10.0% |
| PAM SQUARED AT TEXARKANA | 30 | $15M | 2.5% | 5.0% |
Regional Payer Mix
■ Medicare 60%■ Medicaid 4%■ Commercial 36%