UPMC insures a fair amount of people now
- UPMC announced it netted a total of $12.8 billion in operating revenue at the end of its fiscal year, ending on June 30.
- The provider said the revenue's increase -- up from $12.1 billion in 2015 -- is primarily due to a near 10% growth in insurance services.
- About 3 million individuals have health coverage through UPMC Insurance Services Division. UPMC is the largest medical and behavioral health services insurer in western Pennsylvania, according to a prepared statement.
The provider said it's operating income was high in 2015 ($384 million) because of a one-time $233 gain related to Evolent Health's initial public offering, Pittsburgh Business Times reported.
Operating income was $310 million for the time period. UPMC's earnings before interest, depreciation and amortization (EBIDA) were $767 million.
Twelve percent of patient service revenue came from UPMC insurance services, up from 10% from 2015 and two percentage points more than patient service revenue from Highmark (10%, down from 15% in 2015).
The provider has been in the middle of a nasty breakup with the insurer over the years after Highmark acquired and then invested millions into West Penn Allegheny Health System. UPMC's spat with Highmark cooled a bit last November when state officials made sure an agreement was made for continuity of care purposes. Last year, a UPMC spokesperson said the split had "very minimal" impact the demand for UPMC services.
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