Pittsburgh-based Highmark Health, the parent company of Pittsburgh-based Allegheny Health Network and Highmark Health Plan, posted net income of $551 million on revenues of $9.4 billion in the first half of fiscal year 2018.
Highmark attributed the improvement, which is up from $534 million in the first half of 2017, to strong performance in its commercial and government health plan units, as well as operational improvements at AHN. AHN ended the second quarter of 2018 with operating income of $22.3 million, up from the $16.4 million the health system recorded in the same period a year prior.
As a whole, Highmark reported an operating gain of $502 million, which was comparable to the same period in 2017. Its health plan remains the largest in Pennsylvania, with 4.6 million members as of June 30.
"As we've stated before, Highmark Health has a holistic capital plan and strategy and a diversified business operating model that enables us to continue to invest in Allegheny Health Network to advance our path to value-based care," David L. Holmberg, Highmark's president and CEO, said in a prepared statement.