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UPMC's Financial Results for Q1 2022 Mirror Current Healthcare Environment While UPMC Remains Well-Positioned to Reinvest in Patient Care and Community Services.

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5/27/2022

PITTSBURGH, May 26, 2022 – UPMC today released its financial results for the first quarter of Calendar Year 2022. Despite the peri-pandemic challenges impacting health care providers nationwide, including UPMC, Western Pennsylvania’s leading provider-insurer remains strongly positioned to continue expanding access to world-class patient care, reinvesting in clinical excellence and innovation, while providing community services across all UPMC regions.

UPMC providers, like many across the country, faced challenges during this period, including an arduous labor market with inflated staffing agency costs, higher hospital expenses, and lower provider volumes due primarily to the Omicron variant of COVID-19.

“UPMC’s successful integrated provider-insurer model enables our organization to be strong and nimble in fulfilling our mission of always providing the very best, value-based clinical care,” said Edward Karlovich, executive vice president and chief financial officer, UPMC. “We are starting to see patient volumes returning in the second quarter. Meanwhile, our strong clinical and operational teams continue to lead the way in creating new and better patient care delivery models, and we have invested an additional $300 million in our committed and dedicated workforce.”

In the first quarter, UPMC strategically reinvested $250 million on new facility construction and clinical program innovations and improvements.

Jameson Hospital went from Near Failure in 2016 To Becoming a Regional Healthcare Destination Today as UPMC Jameson

An example of UPMC’s power and commitment to expand world-class care to more people and places is UPMC Jameson in New Castle, Pa. Prior to Jameson becoming part of the UPMC network in 2016, the struggling community hospital was failing. Today, UPMC Jameson is continuing to grow and evolve as a health care destination for the region.

In six years, UPMC has invested more than $100 million to add clinical programs, upgrade facilities and improve supportive infrastructure to advance patient care at UPMC Jameson. UPMC also has devoted an additional $50 million in funding, resources and expertise for needed services and continuum of care between the campuses of UPMC Jameson in Lawrence County and UPMC Horizon in neighboring Mercer County. “The result has been a remarkable success story of a regionalized approach to preserving access to quality health care for residents of both counties,” said David Gibbons, market president of UPMC’s Northwest Pa. and New York region.

Elizabeth Piccione, M.D., a longtime cardiologist at Jameson, was among the many hospital and community leaders to actively advocate for the UPMC affiliation during the regulatory review and approval process. Today, Dr. Piccione is the president of UPMC Jameson and UPMC Horizon. “Not only did UPMC save our hospital from failure, we have elevated the level of care across the entire UPMC Jameson – UPMC Horizon region, and we are still making advancements,” she said. “There is now and continues to be increased strategically coordinated access to UPMC’s specialty care services right here in these counties to best care for local residents close to their homes. These signature services include UPMC Hillman Cancer Center, UPMC Magee-Womens, UPMC Children’s, UPMC Western Behavioral Health, and UPMC Heart and Vascular care. “Without UPMC, there would not be any local access to this level of world-class care,” added Dr. Piccione.

“The UPMC Jameson story is another example of how UPMC is committed to smartly reinvesting in advancing the care that is needed across all our regions, and we are well-positioned to continue our record of success well into the future,” Karlovich said.

About UPMC

A $24 billion health care provider and insurer, Pittsburgh-based UPMC is inventing new models of patient-centered, cost-effective, accountable care. The largest nongovernmental employer in Pennsylvania, UPMC integrates 92,000 employees, 40 hospitals, 800 doctors’ offices and outpatient sites, and a more than 4 million-member Insurance Services Division, the largest medical insurer in western Pennsylvania. In the most recent fiscal year, UPMC contributed $1.7 billion in benefits to its communities, including more care to the region’s most vulnerable citizens than any other health care institution, and paid more than $900 million in federal, state and local taxes. Working in close collaboration with the University of Pittsburgh Schools of the Health Sciences, UPMC shares its clinical, managerial, and technological skills worldwide through its innovation and commercialization arm, UPMC Enterprises, and through UPMC International. U.S. News consistently ranks UPMC Presbyterian Shadyside among the nation’s best hospitals in many specialties and ranks UPMC Children’s Hospital of Pittsburgh on its Honor Roll of America’s Best Children’s Hospitals. For more information, go to UPMC.com.

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