BUFFALO, N.Y. — With a strong focus on “weathering the storm,” Highmark Health leaders Aug. 30 highlighted operating gains and membership growth in the company's midyear performance update, reporting $12.9 billion in total revenue at the Pittsburgh-based company, with operating gains of $387 million but a net loss of $174 million.
Those totals include the Buffalo-based operations of Highmark Western and Northeastern New York, formerly known as HealthNow New York, which reported revenue of $1.65 billion, up from $1.5 billion in the first two quarters, with improvements to its operating margin from -2% to -0.6%.
Though membership continues to grow and operations remain strong, the company is suffering from familiar challenges: staffing issues, inflation and supply chain shortages, as well as an underperforming stock market.
Read the full story from our partners at Buffalo Business First.
