Pittsburgh-based UPMC reported a turnaround in operating income in the third quarter, in part due to an improved underwriting margin within the system’s health plan.
UPMC posted an operating income of $45.6 million (0.5% operating margin) in the third quarter of 2025, up from an operating loss of $57.6 million (-0.7% margin) during the same period last year, according to its Nov. 25 financial report.
The increase in operating results was primarily driven by increased inpatient and outpatient hospital volumes and improved underwriting margin within the insurance division.
Total operating revenues in the insurance division were $13.9 billion in the first nine months of the year, and $4.4 billion in the third quarter. The division reported $53 million in operating income and a 0.4% operating margin in the nine months ended Sept. 30.
UPMC Health Plan’s medical loss ratio was 90.7% in the third quarter, and it has 4.1 million members.
