Kaiser Loses Money in Second Quarter
New data released shows that Kaiser Permanente, at the national level, ended its second quarter with operating income of $491 million, which represented a 35.4 percent decrease during the same period last year when it reported $760 million.
According to a report in Becker’s Hospital Review, overall revenue for Kaiser climbed by 3.27 percent to reach $15.8 billion in the second quarter, while it added 362,000 members since December 31. Kaiser now has about 10.6 million members nationwide.
After accounting for expenses, Kaiser ended the second quarter with operating income of $491 million, down 35.4 percent from $760 million in the same period of 2015.
Also, Kaiser’s net income fell to $708 million in the second quarter of 2016, down from $1 billion during the same time period in 2015.
In the article that appeared in Becker’s, Kaiser’s Chairman and CEO Bernard J. Tyson said he was pleased with the second quarter results, "Despite unprecedented change in the healthcare industry, our performance remains strong and steady.”
Financial data for Kaiser’s operations in the Pacific Northwest is expected to be released later this week, Debbie Karman, senior consultant for public relations for Kaiser, told The Lund Report.
During the first quarter of this year, Kaiser posted a net loss of $4.7 million, compared to a $21.2 million loss in a similar time period a year earlier. Also, its membership grew slightly reaching 488,675 on March 31, up from 475,594 on Dec. 31, 2015.
Diane can be reached at [email protected]