Med­i­caid con­tract boosts Pres­by­te­rian’s bot­tom line

Modern Healthcare - - REGIONAL NEWS - —Bob Her­man

Pres­by­te­rian Health­care Ser­vices, Al­bu­querque, continues to reg­is­ter a pos­i­tive year, with the most sub­stan­tial growth seen in the hos­pi­tal sys­tem’s in­sur­ance arm.

Pres­by­te­rian owns six hos­pi­tals, leases two oth­ers and op­er­ates one of the largest health in­sur­ance com­pa­nies in the state with more than 442,000 cov­ered lives. The sys­tem re­ported last week that its op­er­at­ing sur­plus dou­bled in the third quar­ter to $53.2 mil­lion. Rev­enue, mean­while, rose 31% to $683.6 mil­lion.

Most of those gains came from Pres­by­te­rian’s health plans. Start­ing in Jan­uary, New Mex­ico ex­panded its Med­i­caid man­aged-care pro­gram and named Pres­by­te­rian as one of the con­tracted car­ri­ers. Since then, Pres­by­te­rian’s pre­mium rev­enue from mem­bers has soared 33% to al­most $1.3 bil­lion. Med­i­caid mem­ber­ship has in­creased 17% since the end of 2013, to­tal­ing al­most 191,000 ben­e­fi­cia­ries.

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