It happened around 6:30 a.m. on Wednesday outside Abington Memorial Hospital.
The victim, a 72-year-old woman from Chalfont, was crossing Old York Road with her husband, who had apparently been released, just outside the hospital.
Investigators say it appears that the victim had crossed the northbound lanes and then stepped from the median strip into the path of a southbound vehicle.
That area was not a designated crosswalk, police said. Officers added that, at the time of the accident, it was raining and the victim was carrying an open umbrella.
The operator of the striking vehicle is a 40-year-old man from Warminster who was on his way to work.
Police say the operator of the vehicle immediately stopped, called 9-1-1 and rendered aid to the victim.
After consultation with the Montgomery County District Attorney's Office, Abington Police say there does not appear to have been any violations on the part of the driver and no charges are anticipated.
The identity of the woman is being withheld pending notification of her family.