Highmark Health has reported strong financial performance in 2024, with a revenue of $22.1 billion and a net income of $529 million.
The organization attributes its success to the performance of its health plans and increased patient volumes at Allegheny Health Network (AHN).
AHN has experienced growth in inpatient discharges, outpatient registrations, physician visits, and emergency room visits.
The organization's chief financial officer, Brian Devine, highlights the investments made in community access and expansion as contributing factors to this growth.
Highmark's diversified business units, including United Concordia Dental, enGen, and HM Insurance Group, have also contributed to its financial success.
However, Highmark's insurance segment has faced challenges due to the end of Medicaid redeterminations, rising utilization rates, and escalating pharmacy costs.
As the organization continues to adapt to the changing healthcare landscape, its focus on community engagement and strategic investments will be crucial.
Highmark has made efforts to optimize operations and improve financial health across its various business lines.