Kaiser's net income drops 32% to $884M

Oakland, Calif.-based Kaiser Permanente reported higher revenue for its nonprofit hospital and health plan units in the third quarter of 2018, but the system ended the period with lower net income.

Here are five things to know:

1. Kaiser's operating revenue climbed to $19.9 billion in the third quarter of this year. That's up 8.7 percent from revenue of $18.3 billion in the third quarter of 2017.

2. Kaiser said its health plan membership remained stable in the third quarter of 2018, totaling 12.2 million as of Sept. 30. Kaiser had 11.7 million health plan members in the third quarter of 2017.

3. Kaiser's expenditures in the third quarter of 2018 included capital spending of $760 million, which includes investments in upgrading and opening new facilities, as well as in technology.

4. In the third quarter of this year, Kaiser opened a behavioral health clinic in Sacramento and a hearing center in San Rafael, Calif., bringing the system's total number of medical offices nationwide to 690.

5. Kaiser ended the third quarter of 2018 with net income of $884 million, down 32 percent from net income of $1.3 billion in the same period of 2017.

More articles on healthcare finance:

CHS sees net loss swell to $325M in Q3
CMS' final physician payment rule for 2019: 6 things to know
The rural hospital closure crisis: 9 things to know

© Copyright ASC COMMUNICATIONS 2018. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months