Pittsburgh-based UPMC reported higher revenues and operating income in the first half of 2018, but saw a significant drop in net income.
Here are five things to know:
1. UPMC reported revenues of $9.3 billion in the first six months of this year, up from $7.5 billion in the same period a year earlier. The boost was largely attributable to patient volume growth and higher enrollment in the system's health insurance plan. As of June 30, UPMC's health plan had more than 3.4 million members.
2. After factoring in expenses, UPMC ended the first half of 2018 with operating income of $176 million, up from $135 million in the same period of 2017.
3. The system reported a 1.9 percent operating margin for the six-month period, up from a 1.8 percent margin in the same period a year earlier.
4. UPMC reported a $41.4 million loss on its investment portfolio in the first half of this year. That's compared to a $269.6 million gain on its investments in the first six months of 2017.
5. UPMC ended the first half of 2018 with net income of $115.7 million, down 69 percent from $375.7 million in the same period of the year prior.
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