Nationwide, Oakland, Calif.-based Kaiser Foundation Hospitals and Kaiser Foundation Health Plan did extremely well when reporting its third quarter finances, according to information obtained by Becker’s Hospital Review, which considers itself the leading source of cutting-edge business and legal information for healthcare industry leaders.
Combined, Kaiser’s operating revenue swelled from $13.2 billion in 2013 to $14.2 billion during the third quarter, while its operating income reached new highs -- $768 million compared to $518 million during that same time period.
The third quarter results also revealed that Kaiser’s non-operating decreased slightly -- $228 million this year compared to $241 million in 2013.
Nevertheless, Kaiser can pat itself on the back when the final numbers arrived – net income – better known as profit in the for-profit sector which represents all the remaining money once expenses are paid -- which reached $997 million in 2014 – a huge jump from the $635 million in 2013.
Commenting on its strong financial performance, Bernard J, Tyson, chairman and CEO of Kaiser, told Becker, “We continue to improve on quality, service and affordability, and we continue to see positive results.”
Physicians Saw Higher Earnings
A national survey conducted this year by Sullivan, Cotter and Associates found that the median total cash compensation for physicians increased for nearly all physicians compared to 2013.The results, reported in Becker’s Hospital Review, found that urologists realized the largest pay increase, based on the 2014 Physician Compensation and Productivity Survey, earning $409,044 on average, representing a 7 percent.
When looking across the spectrum at all specialty groups, their compensation grew by 1.9 percent, compared to a 3.2 percent gain in 2013.
Overall, general orthopaedic surgeons had the highest compensation on record during 2014, $514,577 (+2%), followed closely by gastroenterologists who reported earning $444,382 (+6%), diagnostic radiologists at $439,350 (+2%), urologists who brought home $409,044 (+7%), general cardiologists at $401,103 (0%) and anesthesiologists who earned $368,510 (-2%) this year.
At the lowest end of the spectrum, general psychiatrists, on average, earned $202,752 (+3%), with general pediatricians earning slightly more, $207,712 (+5%), urgent care physicians barely took third place, $208,119 (+2%), family practice physicians came even closer at $208,868 (+3%) and doctors of internal medicine reached an income of $213,428, representing a 2 percent decrease.
As this was a national survey, it cannot be determined how Oregon physicians did compared to their peers in other states.
Diane can be reached at [email protected].
Easy to see why there is a shortage of generalist docs. They are bunched at the bottom of the specialities according to earnings.