Welcome!

News Feed Item

Kaiser Foundation Hospitals and Health Plan Report Second Quarter 2014 Financial Results

OAKLAND, Calif., Aug. 8, 2014 /PRNewswire/ -- Kaiser Foundation Hospitals, Kaiser Foundation Health Plan, Inc., and their respective subsidiaries (KFH/HP) reported today a combined total operating revenue of $14.0 billion for the quarter ending June 30, 2014, compared to $13.3 billion in the same period in 2013. Operating income was $653 million in the second quarter of 2014, compared to $614 million in the same quarter last year. Net non-operating income was $348 million in the second quarter of 2014, compared to net non-operating income of $144 million in the same quarter of 2013. As a result, net income for the second quarter was $1.0 billion, versus $0.8 billion in the same period of 2013. Capital spending in the second quarter of 2014 was $614 million, compared to $769 million in the same quarter in 2013.

Kaiser Permanente Logo.

Kaiser Permanente membership has grown by 386,600 members since Dec. 31, 2013, totaling approximately 9.5 million members as of June 30, 2014.

For the six months that ended June 30, 2014, total operating revenue was $27.9 billion, compared to $26.4 billion for the same period in 2013. Year-to-date operating income was $1.5 billion, compared to $1.2 billion for the same period in 2013. Net non-operating income was $672 million in the first six months of this year, compared to $363 million in the same period last year. Year-to-date net income was $2.1 billion, compared to $1.5 billion for the same period in 2013.

Year-to-date capital spending was $1.4 billion, compared to $1.5 billion in the same period last year. KFH/HP's capital spending reflects our continued investments in upgrading technology and facilities to support our members' needs and deliver high-quality care. This includes the cost of upgrading hospitals to comply with California earthquake standards, including the Kaiser Permanente San Leandro Medical Center, which opened on June 3, and Oakland Medical Center, which opened on July 1.

"We are continuing to improve our quality, service and efficiency, and also making significant progress in our efforts to make health care more affordable to more Americans," said Chairman and CEO Bernard J. Tyson. "As a result of this work, we are lowering our cost trends and are gaining more confidence that we will deliver more affordable – and sustainable – pricing for our members, customers and consumers in 2015 and beyond."

"Our financial performance demonstrates that we continue to make progress in our efforts to gain efficiencies and effectiveness, while increasing our focus on providing high-quality care to our members and customers," said Kathy Lancaster, executive vice president and chief financial officer. "Our performance is allowing us to begin providing more affordable rates, as we continue to make investments in care-delivery programs, facilities and technology to support our members, patients and the communities we serve."

Except for historical information contained herein, the matters discussed in this media release are forward-looking statements that involve risks and uncertainties. Actual results may differ materially based on a number of factors including, but not limited to: the impact of competitive products and pricing; government regulations; changing membership requirements and the change in business and economic conditions. Forward-looking statements are based on information as of the date of this press release, and we assume no obligation to update or revise any of these forward-looking statements, whether as a result of new information, future events or otherwise.

About Kaiser Permanente
Kaiser Permanente is committed to helping shape the future of health care. We are recognized as one of America's leading health care providers and nonprofit health plans. Founded in 1945, our mission is to provide high-quality, affordable health care services and to improve the health of our members and the communities we serve. We currently serve approximately 9.5 million members in eight states and the District of Columbia. Care for members and patients is focused on their total health and guided by their personal physicians, specialists and team of caregivers. Our expert and caring medical teams are empowered and supported by industry-leading technology advances and tools for health promotion, disease prevention, state-of-the-art care delivery and world-class chronic disease management. Kaiser Permanente is dedicated to care innovations, clinical research, health education and the support of community health. For more information, go to: kp.org/share.

Logo - http://photos.prnewswire.com/prnh/20130718/SF49717LOGO

For more information, contact:
[email protected]
p: 510.267.5354

 

SOURCE Kaiser Permanente

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We focus on SAP workloads because they are among the most powerful but somewhat challenging workloads out there to take into public cloud," explained Swen Conrad, CEO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"As we've gone out into the public cloud we've seen that over time we may have lost a few things - we've lost control, we've given up cost to a certain extent, and then security, flexibility," explained Steve Conner, VP of Sales at Cloudistics,in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"DX encompasses the continuing technology revolution, and is addressing society's most important issues throughout the entire $78 trillion 21st-century global economy," said Roger Strukhoff, Conference Chair. "DX World Expo has organized these issues along 10 tracks with more than 150 of the world's top speakers coming to Istanbul to help change the world."
"We provide IoT solutions. We provide the most compatible solutions for many applications. Our solutions are industry agnostic and also protocol agnostic," explained Richard Han, Head of Sales and Marketing and Engineering at Systena America, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"We are focused on SAP running in the clouds, to make this super easy because we believe in the tremendous value of those powerful worlds - SAP and the cloud," explained Frank Stienhans, CTO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"Peak 10 is a hybrid infrastructure provider across the nation. We are in the thick of things when it comes to hybrid IT," explained , Chief Technology Officer at Peak 10, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I think DevOps is now a rambunctious teenager – it’s starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are still a relatively small software house and we are focusing on certain industries like FinTech, med tech, energy and utilities. We help our customers with their digital transformation," noted Piotr Stawinski, Founder and CEO of EARP Integration, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We've been engaging with a lot of customers including Panasonic, we've been involved with Cisco and now we're working with the U.S. government - the Department of Homeland Security," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
In the enterprise today, connected IoT devices are everywhere – both inside and outside corporate environments. The need to identify, manage, control and secure a quickly growing web of connections and outside devices is making the already challenging task of security even more important, and onerous. In his session at @ThingsExpo, Rich Boyer, CISO and Chief Architect for Security at NTT i3, discussed new ways of thinking and the approaches needed to address the emerging challenges of security i...
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I will be talking about ChatOps and ChatOps as a way to solve some problems in the DevOps space," explained Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
"We are an IT services solution provider and we sell software to support those solutions. Our focus and key areas are around security, enterprise monitoring, and continuous delivery optimization," noted John Balsavage, President of A&I Solutions, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.