Highmark Health executives tout steady growth, momentum, $155M in net income in 2018
Highmark's net operating revenue climbed to
Holmberg said the improved balance sheets signal the nonprofit health care integrated finance and delivery system's ability "to weather whatever is ahead."
"We continue to demonstrate our strategy is working," Holmberg told reporters on a call discussing Highmark's self-reported second-quarter financial performance figures.
"We remain firmly committed to getting health care right."
The
Highmark further saw a "substantial turnaround" in its stop loss insurance arm,
Highmark's IT company,
Income from commercial as well as government-subsidized health insurance plans held relatively steady. About 97 percent of insurance customers in
The system confronted losses in areas such as its VisionWorks retail business -- which posted a
The retail industry for vision care has struggled since mid-2016 as retailers struggle to compete with online sales via the likes of Amazon, Holmberg said.
Vision retail sales were "still soft" in the first half of 2018, though Holmberg notes that he's "cautiously optimistic" about improvement and cited a recent trend of "highly positive cash flow."
The parent company's net gain for the first six months of 2017 was
"What makes this achievement significant in 2018 is that it was delivered while executing on a value-based strategy designed to better coordinate care, to deliver care in lower cost outpatient settings when appropriate, and to redesign the delivery of care for the highest quality and lowest cost," said
"We continue to build momentum of reducing care costs and delivering value to our customers," Hanlon said.
After reaching its highest earnings ever last year, Holmberg said he's eager to build on the momentum of 18 months of the system's best financial performances yet.
Highmark further seeks to strengthen its position as the largest commercial insurer in its core markets of
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