Highmark, the dominant Pittsburgh-based health insurer that is also creating its own health system, reported $15.2 billion in total revenue in fiscal year 2012 — a 2.7 percent jump from 2011.
Net income for Highmark dropped slightly, from $444.7 million in FY 2011 to $432.3 million last year. Excluding its acquisition of Blue Cross Blue Shield of Delaware, Highmark's profit was $246.5 million.
Highmark has made a big splash in the healthcare industry over the past two years. The health insurer is creating a new non-profit health system, temporarily known as the "ultimate parent entity." Jefferson Regional Medical Center in Jefferson Hills, Pa., was the first hospital to join Highmark in March, and Highmark is still looking to add the financially beleaguered West Penn Allegheny Health System in Pittsburgh and Saint Vincent Health System in Erie, Pa.
Highmark has also been battling the provider giant in the Pittsburgh area: University of Pittsburgh Medical Center. The two have been embroiled in various spats and lawsuits over the past couple years, including a now-dropped lawsuit from Highmark that claimed UPMC organized a false advertising campaign against the insurer.
Net income for Highmark dropped slightly, from $444.7 million in FY 2011 to $432.3 million last year. Excluding its acquisition of Blue Cross Blue Shield of Delaware, Highmark's profit was $246.5 million.
Highmark has made a big splash in the healthcare industry over the past two years. The health insurer is creating a new non-profit health system, temporarily known as the "ultimate parent entity." Jefferson Regional Medical Center in Jefferson Hills, Pa., was the first hospital to join Highmark in March, and Highmark is still looking to add the financially beleaguered West Penn Allegheny Health System in Pittsburgh and Saint Vincent Health System in Erie, Pa.
Highmark has also been battling the provider giant in the Pittsburgh area: University of Pittsburgh Medical Center. The two have been embroiled in various spats and lawsuits over the past couple years, including a now-dropped lawsuit from Highmark that claimed UPMC organized a false advertising campaign against the insurer.
More Articles on Highmark:
Highmark, Lake Erie College of Osteopathic Medicine Create Partnership
Highmark Launches West Penn Debt Offer as Deal's April Deadline Looms
Highmark Acquires Triangle Urological Group