Quarterly Profit Jumps for Anthem
Elevance, formerly Anthem, is headquartered in Indianapolis. (photo courtesy of Anthem Inc.)
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Anthem Inc. (NYSE: ANTM) is reporting third quarter net income of $1.5 million, up from $222,000 during the same period last year. The health insurance provider says medical enrollment increased by 730,000 members during the quarter and 2.4 million year over year.
Anthem is also reporting a 16% increase in operating revenue over the quarter.
“Our deep connection to the communities we serve, commitment to advancing a digital platform for health and our differentiated approach to addressing the whole health of the people we serve has underpinned our strong performance despite the challenging environment due to COVID,” Chief Executive Officer Gail Boudreaux said in a news release. “The strong growth we saw across all of our benefits business in the third quarter demonstrates that our core offerings, as well as additional innovative products and services continue to resonate in the market.”
Boudreaux says the company believes the momentum it is seeing will be further accelerated by recent changes to senior leadership.
Earlier this month, Anthem announced Pete Haytaian as president of diversified business and IngenioRx, Morgan Kendrick as president of the company’s commercial and specialty business division, and Rajeev Ronanki as president of digital platforms.
You can connect to the full earnings report by clicking here.