Kaiser's annual revenue grows to $79B

Oakland, Calif.-based Kaiser Permanente reported higher revenue and operating income for its nonprofit hospital and health plan units in 2018, but the system's net income declined year over year.

Kaiser saw operating revenue increase to $79.7 billion in 2018. That's up 9.6 percent from operating revenue of $72.7 billion in 2017.

The boost was partly attributable to the system's health plan unit. Kaiser saw health plan membership increase 3.5 percent year over year to 12.2 million members in 2018.

"While the healthcare industry experienced considerable changes in 2018, we continued making great progress on delivering high-quality, affordable and accessible care and coverage to more people," Chairman and CEO Bernard J. Tyson said in a press release. "Our solid membership growth and financial performance were consistent with our plan."

After factoring in expenses, Kaiser reported operating income of $1.9 billion, up from $1.7 billion in the year prior.

Kaiser's net income dropped 36 percent year over year to $2.5 billion in 2018. The decline was largely attributable to volatility in the investment markets.

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