1. Blue Cross NC reported $734 million in net income and $9.4 billion in revenue for 2017.
2. The company’s average net income margin from 2013 to 2017 was 2.2 percent.
3. Blue Cross NC experienced years of losses totaling $485 million since implementing the ACA. Less than 15 percent of its members are ACA customers.
4. Claims and medical expenses totaled $6.6 billion in 2017, up from $5.8 billion in 2016.
5. The company’s financial report attributed steep gains and losses since 2013 to market volatility caused by lack of federal cost sharing reduction payments; the individual mandate repeal; the health status of customers; rising medical costs; and uncertainty surrounding the repeal and replacement of the ACA.
More articles on coding, billing and collections:
Maximize your 2018 reimbursements: Know your health plans, know your market, and stay on top of trends
Anthem halts controversial modifier 25 reimbursement policy — 4 insights
Ohio auditor: Medicaid providers only repaid fraction of $19.7M owed to state — 4 insights
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 18–20 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
