Highmark Reports $187.7M Income for 2009, Explores Capitation Arrangements

Pittsburgh-based Highmark, a non-profit, private arm of Blue Cross-Blue Shield, reported a net income for 2009 of $187.7 million, doubling 2008's income of $94.1 million, according to a report in the Pittsburgh Post-Gazette.

The increased revenue, while still below 2007's mark of $375.4 million, was attributed to increased business in the company's Visionworks retail vision and dental divisions, according to the report. Highmark also reported a margin of 1.4 percent, which it notes is well below that of Aetna, Cigna and WellPoint.

Highmark has also been looking to reinstate capitation arrangements for medical reimbursements, wherein healthcare providers would work at a flat-rate, per-patient fee opposed to a fee-for-service plan, according to the report. The insurer moved away from these arrangements in 2007 but is reportedly exploring options with Meadville Medical Center and Heritage Valley Health System.

Read the Post-Gazette's report on Highmark's 2009 income.