“We are pleased with our significant progress in growing the business, including our primary care clinics and our organic expansion of Medicaid membership, combined with the initial rollout of our value-based home care,” President and CEO Bruce Broussard said. “In addition, our strong 2022 EPS growth of 20 percent, and the investments our one billion-dollar value initiative allowed us to make in our 2023 Medicare Advantage product offerings demonstrate our commitment to balancing our long-term membership and earnings growth targets.”
Eight things to know:
- Revenues increased 14.6 percent year over year, rising from $20.6 billion to $23.7 billion.
- Operating expenses rose 15.7 percent year over year, rising from $19.4 billion to $22.4 billion.
- Net income rose 18.5 percent year over year, rising from $588 million to $696 million. For the first six months of 2022, net income is $1.6 billion.
- Fully insured commercial members shrank 15.7 percent year over year, decreasing to 595,400 members.
- ASO commercial members shrank 10 percent year over year, decreasing to 448,100 members.
- State-based contracts increased 20 percent year over year to 1,053,000 members.
- Total Medicare Advantage members increased 4.5 percent year over year to 5,117,600 members.
- Members covered under a value-based care model grew 22.3 percent year over year, increasing to 330,900 as of June 30.
