Skip to Content
800-533-8762
  • Careers
  • Newsroom
  • Health Care Professionals
  • About Us
  • Contact Us
UPMC
  • Find a Doctor
  • Services
    • Frequently Searched Services
    • Frequently Searched Services
      Allergy & Immunology Behavioral & Mental Health Cancer Ear, Nose & Throat Endocrinology Gastroenterology Heart & Vascular Imaging Neurosciences Orthopaedics
      Physical Rehabilitation Plastic & Reconstructive Surgery Primary Care Senior Services Sports Medicine Telemedicine Transplant Surgery Walk-In Care Weight Management Women’s Health
      See all Services
    • Services by Region
    • Find a UPMC health care facility close to you quickly by browsing by region.
      UPMC in Western Pa. Western Pa. and New York
      UPMC in Central Pa. Central Pa.
      UPMC in North Central Pa. North Central Pa.
      UPMC in Western Md. Maryland & West Virginia
    • See All Services
  • Locations
    • Locations by Type
    • Locations by Type
      UPMC hospitals
      Hospitals
      Physical Therapy
      Physical Therapy
      Urgent care
      Walk-In Care
      UPMC Outpatient Centers
      Outpatient Centers
      UPMC Imaging Services
      Imaging
      Community Health Centers
      Community Health Centers
      See All Locations
    • Locations by Region
    • Locations by Region
      UPMC in Southwest Pa. Southwest Pa.
      UPMC in North Central Pa. North Central Pa.
      UPMC in Northwest Pa and Ny. Northwest Pa. & Western N.Y.
      UPMC in West Central Pa. West Central Pa.
      UPMC in Central Pa. Central Pa.
      UPMC in Western Md. Maryland & West Virginia
    • See All Locations
  • Patients & Visitors
    • Patient & Visitor Resources
    • Patient & Visitor Resources
      Patients and Visitors Resources Pay a Bill Classes & Events Medical Records Health Library Patient Information
      Patient Portals Privacy Information Shared Decision Making Traveling Patients Visitor Information
      Man uses mobile phone
      Pay a Bill
      Nurse reviews medical chart
      Request Medical Records
  • Patient Portals
  • Find Covid-19 updates
  • Schedule an appointment
  • Request medical records
  • Pay a bill
  • Learn about financial assistance
  • Find classes & events
  • Send a patient an eCard
  • Make a donation
  • Volunteer
  • Read HealthBeat blog
  • Explore UPMC Careers
Skip to Content
UPMC
  • Patient Portals
  • For Patients & Visitors
    • Find a Doctor
    • Locations
    • Patient & Visitor Resources
    • Pay a Bill
    • Services
    • More
      • Medical Records
      • Financial Assistance
      • Classes & Events
      • HealthBeat Blog
      • Health Library
  • About UPMC
    • Why UPMC
    • Facts & Stats
    • Supply Chain Management
    • Community Commitment
    • More
      • Financials
      • Support UPMC
      • UPMC Apps
      • UPMC Enterprises
      • UPMC International
  • For Health Care Professionals
    • Physician Information
    • Resources
    • Education & Training
    • Departments
    • Credentialing
  • Careers
  • Contact Us
  • Newsroom
  • UPMC >
  • Media Relations >
  • News Releases >
  • 052523 Q1 2023 Financial Results
Media Relations
News Releases
Central Pa. News
North Central Pa. News
Contact Us
Experts
Community-Focused News
Media Kits
Media RSS
Media Relations
News Releases
Central Pa. News
North Central Pa. News
Contact Us
Experts
Community-Focused News
Media Kits
Media RSS

Chat Keywords List

  • cancel or exit: Stops your conversation
  • start over: Restarts your current scenario
  • help: Shows what this bot can do
  • terms: Shows terms of use and privacy statement
  • feedback: Give us feedback
Continue
Chat with UPMC
RESTART
MENU
CLOSE

UPMC’s Financial Results for First Quarter 2023 Support Continuing Patient-Centered Care

For Journalists

Susan Manko
Vice President
412-586-9771
MankoSM@upmc.edu

Paul Wood
Vice President & Chief Communications Officer, Public Relations
412-647-6647

Want to Make an Appointment or Need Patient Information?
Contact UPMC at

1-800-533-8762.

Go to Find a Doctor to search for a UPMC doctor.

UPMC

5/25/2023

UPMC First Three Months 2023 Results:

  • Operating income of $100 million; operating revenue of $6.9 billion.
  • UPMC Insurance Services Division, the largest health insurer in western Pennsylvania, grew 12% to
    more than 4.5 million members.
  • UPMC continues to advance patient-centered care with strategic capital expenditures totaling
    $202 million.
  • $8.8 billion in cash and investments provide for long-term sustainability

PITTSBURGH, May 25, 2023 — UPMC’s financial results for the first three months of 2023 reflect UPMC’s strength and ongoing commitment to serve the needs of its patients and communities in an evolving post-pandemic health care environment. While facing the same challenges as other health systems nationwide, UPMC is still forging ahead with strategic investments and growth to improve access to patient-centered and cost-effective care.

UPMC’s operating income improved from a year ago due to increased patient volumes, growth in enrollment of products offered by the Insurance Services Division and equity earnings in UPMC’s investment in CarepathRx, a provider of pharmacy solutions for health systems and hospitals. These results were partially offset by diminishing pandemic-related government funding and increased costs associated with challenging conditions in the labor market.

Year over year, UPMC’s admissions and observations grew 6%, and UPMC Health Plan enrollment increased from 4 million to more than 4.5 million members — a 12% surge — due to the expansion of UPMC’s behavioral health and Medicaid programs in eastern Pennsylvania. UPMC continues to serve its patients and members as the region’s most preferred health care provider and insurer.

“Our substantial investment in health care services today and for the future continues through 2023, including strategic actions to improve access to our clinical care and community services throughout all our regions,” said Edward Karlovich, executive vice president and chief financial officer of UPMC. While meeting strong patient preference for care to be provided more conveniently in ambulatory settings closer to home, UPMC’s outpatient revenue increased 9% compared to a year ago. “Our patient volumes continue to shift from inpatient to outpatient settings,” Karlovich said.

UPMC’s $202 million in capital expenditures for the quarter include the new UPMC Mercy Pavilion, UPMC Presbyterian, and multiple construction projects and improvements for inpatient and outpatient facilities and programs throughout all of the regions served by UPMC.

UPMC also continues to invest in innovative internal programs to support its workforce and creative external partnerships to train and recruit future health care professionals. In February 2023, UPMC announced its commitment to increase the minimum wage for non-union employees to $18 an hour by 2025 for Pittsburgh (urban) and Central/North Central hospitals and associated facilities. Starting salaries at all UPMC’s other sites across Pennsylvania, New York and Maryland will reach $18 an hour by 2026. With this commitment, UPMC will again offer the highest entry-level pay of any health care system in Pennsylvania.

About UPMC

A $26 billion health care provider and insurer, Pittsburgh-based UPMC is inventing new models of patient-centered, costeffective, accountable care. The largest nongovernmental employer in Pennsylvania, UPMC integrates 95,000 employees, 40 hospitals, 800 doctors’ offices and outpatient sites, and a more than 4.5 million-member Insurance Services Division, the largest medical insurer in western Pennsylvania. In the most recent fiscal year, UPMC contributed $1.5 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.

UPMC
200 Lothrop Street Pittsburgh, PA 15213

412-647-8762 800-533-8762

Patients And Visitors
  • Find a Doctor
  • Locations
  • Pay a Bill
  • Patient & Visitor Resources
  • Disabilities Resource Center
  • Services
  • Medical Records
  • No Surprises Act
  • Price Transparency
  • Financial Assistance
  • Classes & Events
  • Health Library
Health Care Professionals
  • Physician Information
  • Resources
  • Education & Training
  • Departments
  • Credentialing
Newsroom
  • Newsroom Home
  • Inside Life Changing Medicine Blog
  • News Releases
About
  • Why UPMC
  • Facts & Stats
  • Supply Chain Management
  • Community Commitment
  • Financials
  • Supporting UPMC
  • HealthBeat Blog
  • UPMC Apps
  • UPMC Enterprises
  • UPMC Health Plan
  • UPMC International
  • Nondiscrimination Policy
Life changing is...
Follow UPMC
  • Contact Us
  • Website/Email Terms of Use
  • Medical Advice Disclaimer
  • Privacy Information
  • Active Privacy Alerts
  • Sitemap
© 2025 UPMC I Affiliated with the University of Pittsburgh Schools of the Health Sciences Supplemental content provided by Healthwise, Incorporated. To learn more, visit healthwise.org
Find Care
Providers
Video Visit
Portal Login