A report due out on Thursday could shape the future of services at Banbury's Horton Hospital.
But campaigners believe the Independent Reconfiguration Panel (IRP), which has been considering proposals to downgrade maternity and children's departments, may not reach a definite conclusion.
It is expected the panel will side with Oxford Radcliffe Hospitals NHS Trust on some issues and support campaigners on others.
And it is not yet known if Health Secretary Alan Johnson will reach a decision on the Horton on the same day or at a later date.
The Save the Horton action group, backed by Banbury MP Tony Baldry, family doctors, nurses, midwives and residents, has fought vigorously against the proposals.
Mr Baldry said: "The panel will not want to upset the present Government, but neither will it want to offend David Cameron, who could well be the next Prime Minister - bearing in mind that Mr Cameron twice came to Banbury to give his backing to the Save the Horton campaign."
The IRP is set to announce the result of its deliberations on plans to cut back on maternity and paediatric facilities at The Horton, including the closure of the special care baby unit.
Campaigner George Parish said: "I've heard the rumours that the panel will not make clear-cut recommendations. We'll have to see the full statement before deciding what the next step will be - we're holding our breath, but it could be that our campaigning is not over."
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