UPMC’s 2021 financial results reaffirm superior care and service to our communities throughout the COVID-19 pandemic
UPMC Calendar Year 2021 Results
- Operating Income of $843 million; Operating income of $24 billion.
- UPMC Insurance Services Division, the largest health insurer in western Pennsylvania, grew 3% to 4.1 million members.
- UPMC continues to advance patient care with total investments of $782 million.
- $10.7 billion in cash and investments ensure long-term sustainability.
PITTSBURGH, Feb. 28, 2022 – UPMC’s financial results for calendar year 2021 support the continuation of clinical excellence and programs for all communities that need our care during the challenges of the evolving COVID-19 pandemic. UPMC continues to serve our patients and members as the region’s preferred healthcare provider and insurer.
For the year, UPMC had operating income of $843 million and operating income of $24 billion. UPMC’s Insurance Services division — the largest health insurer in western Pennsylvania — grew another 3% to 4.1 million subscribers. Over the past five years, UPMC Health Plan membership has increased by more than 1 million.
“During the second year of this unprecedented time – when COVID-19 dominated every aspect of our lives and profoundly impacted our healthcare systems – UPMC’s clinicians and staff have demonstrated unprecedented leadership and willingness to manage both COVID and COVID-19 in a safe manner.” to provide excellent clinical care to non-COVID patients,” said Edward Karlovich, executive vice president and chief financial officer, UPMC.
“UPMC has served as the leading provider of vaccines and the latest evidence-based therapies for COVID-19, and a trusted source for rapidly changing prevention and treatment information in every region in which we operate,” added Karlovich.
“Meanwhile, UPMC has never stopped providing essential, compassionate care to all, and we have never stopped investing in the clinical advances and scientific innovations that are needed now and in the future,” he said.
During the year, the healthcare system invested $782 million to continue improving facilities and adding clinical programs and services throughout Pennsylvania and beyond. These projects include the construction and improvements at UPMC Pinnacle, UPMC Susquehanna and UPMC Mercy. Major IT projects include enhancements to UPMC’s clinical-centric computing environment and investments in enterprise data analytics and other technologies that are transforming the consumer experience across the spectrum of care.
Faced with nationwide healthcare workforce challenges, UPMC planned to invest more than $350 million to strengthen protective equipment, provide pay protection and improve benefits for its dedicated 92,000 employees.
“UPMC’s successful integrated provider-insurer model provides our organization with the strength and flexibility to fulfill our mission of consistently delivering the very best, value-based clinical care, even during challenging times,” said Diane Holder, President and Chief Executive Officer of UPMC Healthcare .
For example, to further support access to quality care during the pandemic and beyond, UPMC Health Plan has added nine clinical services to its AnywhereCare synchronous video platform. These include virtual consultation through Health Plan Member Services, Ask a Pharmacist, Lifestyle Health Coaching and Clinical Decision Support Services.
UPMC Health Plan remained the region’s leader in commercial coverage, offering the lowest-cost Affordable Care Act plans and covering more than 70% of western Pennsylvania seeking exchange insurance, while UPMC for Kids remains the largest CHIP insurer in the state.
Community Care Behavioral Health, a behavioral health managed care organization, achieved record enrollment of more than 1.25 million Medicaid members and partners in 42 counties of Pennsylvania.
A new program, Pathways to Work, led by the UPMC Center for Social Impact at the Center for High-Value Health Care, has helped more than 2,000 Medicaid members gain employment at UPMC since the program began in March 2021 Find.
UPMC, a $24 billion Pittsburgh-based healthcare provider and insurer, is reinventing models of patient-centric, affordable and accountable care. As the largest nongovernmental employer in Pennsylvania, UPMC integrates 92,000 employees, 40 hospitals, 800 physician offices and outpatient facilities, and an insurance division with 4.1 million members, the largest health insurer in western Pennsylvania. In its most recent fiscal year, UPMC provided $1.7 billion in benefits to its communities, including providing more care to the region’s most vulnerable citizens than any other healthcare organization, and paid more than $900 million to federal, state and local government agencies local taxes. In close cooperation with the University of Pittsburgh Schools of the Health Sciences, UPMC shares its clinical, managerial and technological capabilities globally through its innovation and commercialization arm, UPMC Enterprises, and through UPMC International. US News consistently ranks UPMC Presbyterian Shadyside among the nation’s top hospitals in many specialties and includes UPMC Children’s Hospital of Pittsburgh in its honor list of America’s Best Children’s Hospitals. Visit UPMC.com for more information.