UPMC sees $41 million drop in first quarter operating income

UPMC on Thursday reported a $41 million year-over-year drop in operating income for the first three months of 2019, a drop that officials blamed on higher pension expense, rising costs and “increased physician investment.” The Pittsburgh health system reported a decline in operating income from $92 million to $51 million, despite seeing an increase in operating revenues from $4.6 billion to $5.1 billion.