Kaiser Continues Steady Profit Gains in 2013

Net income at Kaiser Foundation Hospitals, Kaiser Foundation Health Plan and all other subsidiaries within Oakland, Calif.-based Kaiser Permanente increased 3.4 percent to almost $2.7 billion in fiscal year 2013.

The higher net income total comes as Kaiser boosted its total revenue 6 percent to $53.1 billion. Kaiser's operating income in FY 2013, which ended Dec. 31, totaled $1.8 billion, giving the integrated system an operating margin of 3.4 percent.

"In 2013, we maintained a consistent operating income as a percent of revenue; it is at a level that allows us to continue making investments in the facilities, technology and care advances that meet the needs of our members, customers and communities," said Kaiser CFO Kathy Lancaster said in a news release.

As of Dec. 31, Kaiser had 9.1 million health plan members, a vast majority residing in California, and encompassed almost 17,000 physicians. Kaiser also operates 38 acute-care hospitals and more than 600 medical offices and outpatient facilities.

More Articles on Health System Finance:
UPMC Posts Big Gains in Profits, Revenue in First Half of Fiscal Year
Q3 Earnings at University General Health System Fall 39%
20 Statistics on Academic Medical Center Finances

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars