Pittsburgh-based UPMC said revenues increased 5.8 percent year over year to $12.8 billion in fiscal year 2016. That boost was primarily attributable to membership growth in the system's health plan.
In financial documents released Friday, UPMC said membership in its health insurance division was up more than 8 percent in FY 2016, which ended June 30, compared to the year prior. As of July 1, membership in UPMC's insurance division was nearly 3 million.
UPMC ended fiscal 2016 with operating income of $310 million, down from $384 million in FY 2015. The system recorded a one-time gain of $233 million in FY 2015 related to Evolent Health's initial public offering. UPMC co-founded Evolent with The Advisory Board Company in 2011. The company helps healthcare providers develop their own health plans and set up value-based payment contracts.
UPMC reported an operating margin of 2.4 percent in FY 2016, compared to an operating margin of 3.2 percent in the year prior.
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