NU Online News Service, July 23, 2003, 6:06 p.m. EDT – WellPoint Health Networks Inc., Thousand Oaks, Calif., says efficiency and “pricing discipline” helped it increase profits during the second quarter even though many of its group health customers were struggling.
The company is reporting $224 million in net income for the latest quarter on $4.9 billion in revenue, up from $171 million in net income on $4.3 billion in revenue for the second quarter of 2002.
The company ended the quarter providing or administering medical insurance for 13.4 million people, up from 13 million people a year earlier.
Average premium revenue per insured member increased 10%, to $561.