Pittsburgh-based Highmark Health reported a net income of $389 million in the first six months of 2023, noting strong business performance among its insurance segments.
The company also reported $13.6 billion in revenue and an operating gain of $230 million in the first six months of the year, according to an Aug. 29 news release.
Highmark said its provider network, Allegheny Health Network, saw higher patient volumes year-over-year, which increased revenue. Positive equity market performance also led to an unrealized investment impact of about $200 million toward total net income.
The company noted that supply chain challenges, inflation and labor shortages were ongoing cost pressures.
"Highmark Health is in a strong, stable financial position, which allows us to deliver on our longstanding promise to strengthen the health and economic resilience of the communities we serve," President and CEO David Holmberg said.