Kaiser’s operating income jumps 57% to $772M


http://www.beckershospitalreview.com/finance/kaiser-s-operating-income-jumps-57-to-772m.html

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Oakland, Calif.-based Kaiser Permanente reported higher revenue and operating income for its nonprofit hospital and health plan units in the second quarter of 2017.

Kaiser saw revenue climb to $18.1 billion in the second quarter of this year. That’s up 14.6 percent from revenue of $15.8 billion in the same period of 2016.

That boost was attributable, in part, to the system’s health plan unit. In the first half of 2017 Kaiser added 1.1 million health plan members. This growth was partially attributable to Kaiser’s acquisition of Seattle-based Group Health Cooperative in February. As of June 30, Kaiser had about 11.7 million members.

Kaiser reported operating income of $772 million in the second quarter of this year, up 57.2 percent from $491 million in the same period of 2016.

After factoring in non-operating income, Kaiser ended the second quarter of 2017 with net income of $1 billion, up from net income of $707 million in the second quarter of the year prior.

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