The University of Pittsburgh Medical Center saw a 69% dip in profit during the first six months of 2018 compared with the same period in 2017, despite increased admissions and patient days.
The Pennsylvania Supreme Court reversed a lower court's ruling that UPMC had to cover Highmark Medicare Advantage members in-network through 2019, marking the end of a long-standing feud between the state's largest health system and insurer.
The American Heart Association, UPMC and Philips will invest in emerging companies developing tools for preventing and treating cardiovascular disease and stroke.
UPMC is still quietly fighting to end its relationship with Highmark Health's Medicare Advantage program in Pennsylvania.
Health Catalyst starts with data warehousing and applies machine learning analytics to help clients improve outcomes and lower costs.
Under a new agreement, Highmark health insurance will retain in-network access to UPMC health system hospitals in Western Pennsylvania. UPMC had planned to cut most business ties with Highmark in June 2019.
Highmark Health continues to reshape its organization as it gears up for a split with the UPMC health system in 2019. That includes a new partnership with Penn State Health as providers and insurers continue to closely align and scale up to maintain a competitive edge.
The not-for-profit system will build the specialty hospitals into existing facilities and not add new beds.
The recent acquisition of seven-hospital PinnacleHealth takes UPMC into the tough central Pennsylvania market for the first time, where it faces a host of new competitors, Moody's noted.
Big academic medical centers have found partnerships overseas allow them to enhance their brand awareness and provide an added source of revenue.
Pittsburgh-based UPMC benefited in the first six months of its fiscal year from increased enrollment in its health plan as well as higher patient volumes. But expenses bogged down its operating income.
Provider-owned insurer UPMC Health Plan and Reading Health System on Monday said they are forming a joint venture to offer health insurance to employers and individuals in southeastern Pennsylvania.