Fact Based List:
Molina's operating loss balloons to $269M in Q4: 5 things to know
Submitted by Anonymous on Tue, 02/20/2018 - 12:41
- Molina's operating loss widened to $269 million in the fourth quarter of 2017, compared to an operating loss of $6 million in the same period a year prior
- Joe Zubretsky, president and CEO of Molina, said the results "are emblematic of the significant transition Molina is undertaking.
- Molina also said the federal government's decision to cut cost-sharing reduction payments in October set the company back $73 million in the fourth quarter.
- Molina saw revenue grow 9.1 percent in the three months ended Dec. 31 to $4.9 billion, compared to $4.5 billion reported in the same period a year prior
- Molina ended the fourth quarter of 2017 with a net loss of $262 million, compared to a net loss of $47 million reported in the fourth quarter of 2016
Source: Becker’s Hospital Review
Source URL: https://www.beckershospitalreview.com/payer-issues/molina-s-...
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