This paper analyses the general characteristics of the healthcare financing in Brazil, together with major changes during the past decade in terms of the National Health System and the private supplementary component, discussing the specific characteristics of hospital care in both segments, emphasizing the former and considering aspects of their funding and regulation. This paper presents innovations in reimbursement schemes and contracts for hospital services, in addition to other factors that have prompted changes in delivery networks, ending with some brief remarks on managerial and regulatory initiatives related to the quest for sustainable healthcare financing.