Four things to know:
1. UPMC reported revenue of $20.6 billion in 2019, up from $18.8 billion in 2018.
2. The 40-hospital system attributed the revenue growth to higher enrollment in the system’s health insurance plan as well as an increase in outpatient visits. UPMC Insurance Services Division, the largest health insurer in western Pennsylvania, grew 8 percent in 2019 to more than 3.7 million members.
3. UPMC’s operating income decreased 71.2 percent to $27 million in 2019, compared to $94 million in 2018.
4. UPMC ended 2019 with a net income of $420 million. This compares to a net loss of $290 million in 2018.
More articles on healthcare finance:
CFOs upping salary offers to compete in tight job market
Cincinnati Children’s gets record $36M donation
Tenet posts net income in Q4, but ends FY 2019 with a net loss
