Anthem Reports Yearly Profit Increase
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Indianapolis-based Anthem Inc. (NYSE: ANTM) is reporting full-year net income of $6.1 billion, up from $4.6 billion in 2020. The company says growth was fueled by increasing medical enrollment from government business, primarily driven by organic growth in the Medicaid business.
Medical enrollment totaled about 45.4 million members as of December 31, 2021, an increase of 2.4 million from the prior year quarter.
“2021 was another year of strong growth for Anthem as we continued our transformation from a health benefits company to a lifetime trusted partner in health,” said Gail Boudreaux, president of Anthem. “We begin 2022 with ongoing momentum across all our businesses, and we’re confident in our ability to deliver earnings growth consistent with our long-term targeted range as we innovate for consumers and advance our digital platform for health.”
The company is also reporting fourth quarter net income of $1.1 billion, up from $551 million during the same period last year.
Additionally, Anthem says fourth quarter operating revenue was $36 billion, an increase of $4.5 billion from the same quarter last year. Operating revenue for 2021 was $136.9 billion, representing 13.4% growth over 2020. The company says the increases were driven by higher premium revenue due to growth in Medicaid, Medicare and Commercial risk-based membership, and growth in pharmacy product revenue within IngenioRx.
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