A healthcare system’s investment structure is intentionally aligned to match varying enterprise needs over the short, intermediate, and long term. Most have gravitated toward the use of tiers—pools of capital delineated as available immediately (operating cash), within the next few years (short-duration bonds), or strategically over time (long-term investment pools). However, the need for capital flexibility and liquidity has grown as the demands of providing care have become more complex. Fortunately, higher interest rates have made the return profile of highly liquid, short-duration tiers more attractive. As a result, we expect many hospitals will benefit from allocating any new funds that come available to short-term tiers, given the yields available in short rates and superior liquidity.