Anthem's profit climbs to $1.1B as IngenioRx rollout accelerates

Anthem saw revenue and profit increase in the second quarter of fiscal year 2019 as the health insurer reported steady progress on the launch of its pharmacy benefits manager IngenioRx.

In the second quarter ended June 30, Anthem reported total revenues of $25.5 billion, up 11 percent from $22.9 billion recorded in the same period a year prior, according to an earnings release. Anthem said the increase reflected membership growth across its business lines and premium rate increases.

At the same time, Anthem saw its expenses climb 12 percent to $24 billion in the second quarter of this year, compared to $21.4 billion in the same quarter a year prior.    

Anthem ended the second quarter with a $1.1 billion profit, up 8.1 percent year over year. Its total medical enrollment grew to 40.9 million members as of June 30, up 1.3 million members from the same period in 2018.

In a press release, Anthem CEO and President Gail Boudreaux said IngenioRx is tracking ahead of expectations, and members began moving to the platform May 1. Ms. Boudreaux said Anthem has received the appropriate approvals from its 14 Blue states and the majority of Medicaid states to move forward with IngenioRx.

She also announced that Anthem's first external pharmacy contract for IngenioRx will take effect Jan. 1, 2020, with Blue Cross of Idaho.

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