Here are four things to know:
1. UPMC reported revenue of $13.9 billion in the first nine months of this year, up from $11.4 billion in the same period of 2017.
2. The revenue boost was largely attributable to patient volume growth and higher enrollment in the system’s health insurance plan. As of Sept. 30, UPMC’s health plan had 3.4 million members.
3. After factoring in expenses, UPMC ended the first nine months of 2018 with operating income of $190 million, down from $196 million in the same period of 2017.
4. The system reported a 1.4 percent operating margin for the nine-month period, down from a 1.7 percent operating margin in the same period a year earlier.
More articles on healthcare finance:
SLU physician group implements hiring freeze after EHR rollout
Private equity pushes into healthcare: 6 latest deals
Oklahoma hospital to close in 2019
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.