Pittsburgh-based UPMC recorded an operating margin of 2.8 percent for the nine-month period that ended March 31, up from a margin of 2.5 percent in the same period a year earlier.
Operating revenues for the nine-month period increased 7 percent year over year to $9.5 billion, primarily due to growth in insurance services. As of March 31, UPMC's health plan had more than 2.9 million members — an increase of 13 percent over the same period of the year prior.
UPMC reported operating income of $272 million for the nine-month period that ended March 31, up from operating income of $226 million for the same period a year earlier.
UPMC said total hospital admissions and observation cases were down 1 percent in the nine months that ended March 31, compared to the same period a year earlier. UPMC CFO Robert DeMichiei attributed the decline to the industry shift toward outpatient services, according to the Pittsburgh Business Times.
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