Molina Healthcare reported double digit growth in revenue and profit year over year, according to the company's fourth quarter earnings published Feb. 8.
Total revenues in 2022 were nearly $32 billion, up 15 percent year over year. In the fourth quarter, revenues were $8.2 billion.
For 2023, the company projects revenues of $33 billion and adjusted net earnings of $19.75 per share.
Total net income in 2022 was $792 million, up 20 percent year over year. In the fourth quarter, net earnings were $56 million. Full year adjusted net earnings were $17.92 per share and $4.10 in the fourth quarter.
The company's medical loss ratio was 88 percent for 2022 and 88.3 percent for the latest quarter. Days in claims payable was 47 in 2022 compared to 51 in 2021.
As of Dec. 31, total membership is 5.3 million across 19 states. There are 4.8 million members enrolled in Medicaid, 156,000 enrolled in Medicare plans, and 348,000 enrolled in ACA marketplace plans.