PITTSBURGH — Highmark Health’s annual revenue added $4 billion year over year to soar to the $22 billion mark for 2021 as the health insurance business saw improved results and Allegheny Health Network saw a 10% gain in revenue and lower operating losses.
It was a year of strong growth on many levels for the Pittsburgh-based nonprofit health organization. The $22 billion in annual revenue was $4 billion higher than the $18 billion reported in 2020. Highmark Health, while still dealing with the Covid-19 pandemic, saw a lower operating gain of $301 million, compared to $490 million in 2020. Its excess revenue over expenses was $440 million in 2021, compared to $450 million in 2020.
Organizationally, Highmark Health expanded with the March 2021 affiliation of Health Now, which is now Highmark Blue Cross Blue Shield of Western New York and Highmark Blue Shield Northeastern New York, as well as the acquisition in August 2021 of the remaining half of Pittsburgh-based Gateway Health, which was renamed Highmark Wholecare.
Read more about this from our partners at Pittsburgh Business Times here.
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