Healthcare company Elevance Health reported a $6bn profit for 2023, beating Wall Street expectations. Revenue was $171bn, an increase attributed to higher premiums and growth in its pharmacy benefit manager, CarelonRX. Q4 revenues were also above predictions at $42.7bn, while profit was down 5% YoY to $831m. Despite high medical costs, Elevance’s medical loss ratio improved in Q4 and overall in 2023 compared with the prior-year period.
A division of United Healthcare, Change Healthcare, is dealing with the fallout of a cyber attack. This has heavily impacted the healthcare industry, affecting transactions