GRAND RAPIDS, Mich.--(BUSINESS WIRE)-- Priority Health’s year-end financials illustrate positive growth in both membership and income. The company has made a significant investment in diversifying its product portfolio to include individual, Medicare and Medicaid, and consumer-driven health plans like its HealthbyChoiceSM product suite. As a result, its combined year-end financials show the company gaining 20,000 new members and earning a $34 million net profit with $2.3 billion in revenues.
“Priority Health improves the health of all people by providing access to affordable and excellent health care,” said Steve Flack, Chief Financial Officer for Priority Health. “All of our products are designed to improve health outcomes and eliminate avoidable costs while providing an exceptional care experience. Our financial results underscore our ability to deliver on that promise.”
“We continue to have one of the fastest growing and highest quality Medicare plans in the state,” said Joan Budden, the Chief Marketing Officer for Priority Health. “We’ve found that when individuals have an opportunity to choose their health plan, they choose Priority Health.”
In the last year, the company has introduced several new products to the market including Medicare Advantage plans, individual plans, self-funded options, PPO programs, consumer-driven health plans and wellness packages and ancillary products.
“Since joining Priority Health, I’ve been impressed with the company’s efficiency, its strong provider network and how advanced its wellness and care management programs perform,” said Flack. “This company is approaching health reform and the coming year well positioned to grow.”
Flack joined Priority Health as the Chief Financial Officer in October 2011. In this role, he is focusing on helping the business deliver economic value to customers, strengthening the company financially and strategically and building a team of finance professionals and highly valued advisors.
Priority Health has successfully expanded across the state and now provides health care to every county in Michigan's Lower Peninsula, serving more than 620,000 members. The company currently employs 1,000 people in its six offices across Michigan.
About Priority Health
Priority Health is an award-winning health plan nationally recognized for creating innovative solutions that affect health care costs while maximizing customer experience. It offers a broad portfolio of products for employer groups and individuals including Medicare and Medicaid beneficiaries. As a nonprofit company, Priority Health serves more than 620,000 people and it continues to be rated among the best health plans in the nation by the National Committee for Quality Assurance.
Priority Health Consolidated Financials:
|Administrative Cost Ratio||8.5%|
KEYWORDS: United States North America Michigan
INDUSTRY KEYWORDS: Health Other Health General Health Managed Care