Western Health Records 53% Climb in Net Income
San Diego-based Western Health Plans reported that net income increased 53% to $8.1 million and revenues increased 37% to $70 million for the fiscal year ended June 30. Net income was bolstered by $3.9 million in tax-loss carry forwards and a change of tax status.
In the fourth quarter, net income rose 18% to $2.6 million, while revenues increased 42% to $19.9 million.
Western Health Plans also reported that enrollment in its health maintenance organization and other health care delivery systems increased 23% to 89,962 members.
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