Molina Healthcare saw sharp increases in revenues through 2021, anchored by a 47 percent jump in premium revenue.
Six things to know:
1. Molina Healthcare's revenue shot up 43 percent year over year to a total of $27.8 billion.
2. Quarterly revenue was also up to $7.4 billion compared to the year prior, a 41.5 percent increase over 2020's fourth quarter.
3. Similarly, premium revenue rose to $26.9 billion, a 47 percent increase year over year. In the fourth quarter alone, Molina Healthcare saw premium revenue rise 47.8 percent to $7.2 billion.
4. The payer reported $659 million in net income, down 2 percent over 2020's year-end income.
5. The payer's medical care ratio for 2021 was 88.3 percent, up 1.7 percentage points from 2020's.
6. Molina Healthcare set a $29.5 billion revenue outlook for 2022, representing an increase of 6 percent.