Four things to know:
1. Molina posted fourth-quarter net income of $201 million, compared to a net loss of $262 million in the same period a year prior. The difference was due to impairment losses and restructuring costs of $342 million recorded in the fourth quarter of 2017.
2. Molina’s revenue fell 5.8 percent to $4.7 billion in the fourth quarter of this year, down from $4.9 billion in the same period last year, as premium and service revenue decreased while membership declined.
3. However, Molina cut its expenses by 16.8 percent to $4.3 billion in the fourth quarter of this year, down from $5.2 billion the year prior. The improvement was due to impairment losses recorded in the fourth quarter of last year.
4. Molina also improved its operating income to $272 million in the fourth quarter of 2018, compared to an operating loss of $269 million in the fourth quarter of 2017.
More articles on payer issues:
Humana CFO says Trump’s drug proposal will raise premiums
Utah may unwind voter-approved Medicaid expansion
UnitedHealth updates opioid policy
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.
