Three key insights:
1. Highmark’s excess revenue gain over expenses was $511 million, up $100 million year over year. Its operating revenue was up $590 million, and total revenue hit $9 billion. Its net assets surpassed $8.2 billion.
2. Strong operating gains by Highmark affiliate HM Insurance Group, which sells stop-loss coverage, helped offset steep volume drops.
3. Citing COVID-19-related shutdowns, Highmark subsidiary Pittsburgh-based Allegheny Health Network reported a 28 percent drop in ASC cases, a 12 percent drop in outpatient registrations and a 17 percent drop in hospital-based surgeries for the six months ended June 30.
More articles on surgery centers:
ASC considers in-house alternative to ‘overwhelmed’ hospital testing center — 3 insights
425 surgery centers that received PPP funds of more than $150K by state
4 COVID-19 testing insights for ASCs
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
