UPMC's revenue climbs to $5.1B in first 3 months of 2019

Kelly Gooch - Print  | 

UPMC reported  year-over-year increases in revenue and net income in the first three months of 2019, but the Pittsburgh-based health system ended the period with lower operating income.

Six things to know:

1. UPMC reported revenue of $5.1 billion in the quarter ended March 31, up 10 percent from $4.6 billion in the same three months of 2018.

2. The revenue growth was partially attributable to increased enrollment in UPMC's health insurance plan. Enrollment grew to 3.5 million members as of March 31, up 3 percent compared to the first three months of 2018.

3. Expenses grew 11.5 percent year over year in the first three months of 2019.

4. After accounting for expenses, UPMC ended the first three months of 2019 with operating income of $51 million. That's down from $92 million, or 44 percent, from the same period a year prior.

5. The system reported net income of $289 million in the first three months of 2019, up from $97 million reported in the first three months of 2018. The boost is largely attributable to gains from investing and financing activities.

6. UPMC reported an operating margin of 1 percent for the first three months of 2019, down from a 2 percent operating margin in the same period last year.

 

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