Upmc Profits Down But Overall Financial Condition Still Good 20090126
March 22, 2017 by Berger Lagnese, LLC
UPMC profits down but overall financial condition still good
Posted on Jan 26, 2009
UPMC announced on August 21, 2008 that its profits for fiscal year 2008 were $5 million. That is down from a reported $612 million in fiscal year 2007. Most of this decline is due to losses in UPMC's investment portfolio. UPMC remains exceedingly profitable, earning $184 million in 2008 in its hospital, doctor, and health insurance operations. The money generated in 2008 by UPMC's hospitals, health insurance business, and other holdings was $7.02 billion, up 12% from fiscal year 2007.