HealthPartners hits $7B in revenue

HealthPartners, a Bloomington, Minn.-based health insurer and hospital operator, posted $7 billion in revenue last year, according to the Star Tribune.

The health system continues to grow, adding its seventh hospital last year. In addition, the nonprofit group's health insurance arm saw significant improvement year over year after regaining losses in its Medicaid managed care business and nearly doubling income in its individual health plan unit.

Still, HealthPartners posted lower net income in its 2018 fiscal year compared to the previous year due to a volatile stock market that led to investment losses in the health system's fourth quarter, according to the Star Tribune.

After factoring in investment returns and $6.9 billion in total expenses, HealthPartners ended the year with net income of $146.5 million, down roughly 16 percent from $175.5 million reported in the previous year.

When not including investments from both years, HealthPartners' operating income grew to $153 million, up from $64 million a year earlier, according to the report.

More articles on healthcare finance:
Patients sue HCA over emergency room 'cover charge'
Indiana hospital to close, lay off 437 employees
Fortune 500: 41 healthcare companies make the 2019 list

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months