Hospitals are healthcare service organizations that generate value primarily through service processes, professional interactions, patient experiences, and health outcomes. This article aims to analyze hospitals as service products by integrating concepts such as service characteristics, service quality, patient experience and satisfaction, perceived value, and co-creation of value. The study employs a narrative literature review of scientific publications from the 2021–2026 period relevant to the topic. The synthesis reveals that the inherent nature of services—characterized by intangibility, inseparability of production and consumption, variability, and perishability—influences capacity management, process standardization, healthcare professional interactions, and the physical evidence of service delivery. Hospital service quality is shaped by reliability, responsiveness, assurance, empathy, physical aspects, process quality, communication, the service environment, and patient engagement. The literature also highlights the links between service quality and patient experience, perceived value, satisfaction, revisit intentions, and recommendations. It is concluded that hospitals must be managed as integrated service systems that sustainably align clinical quality, patient experience, human resource capabilities, digital services, and value co-creation.