Both women believed he was member of the hospital staff because of his actions, attire and ability to come and go, said Fort Worth police Lt. Paul Henderson.
"He went into the patients' rooms and asked kind of routine questions," Henderson said.
The suspect was described as a 5-foot-10-inch black man with a dark complexion, about 19 to 25 years old, 250 pounds and clean-shaven. He was dressed in a navy blue polo shirt and khaki pants.
Police say he entered one patient's room around 7:15 p.m. and told the woman he was going to examine her. He touched the 43-year-old woman's genitals and left when she pressed a button to call the nurse.
The other victim was also in the hospital's fourth-floor progressive-care unit. She told investigators that a man entered her room to "check her." He lifted her gown and touched her chest, police said.
Investigators are concerned the man may have attacked other patients at Baylor or other hospitals.
Baylor All Saints Medical Center officials say they are reviewing security procedures and are offering a $5,000 reward for information leading to an arrest and conviction.
"Baylor All Saints Medical Center is committed to providing a safe environment for our patients, visitors and staff, and we are deeply concerned about this incident," hospital spokeswoman Susan Hall said in a written statement. "We promptly notified the authorities when we learned of the incident, and we continue to work diligently with them in the investigation."