|By PR Newswire||
|August 8, 2014 04:53 PM EDT||
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 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.
For more information, contact:
SOURCE Kaiser Permanente
Enterprises are turning to the hybrid cloud to drive greater scalability and cost-effectiveness. But enterprises should beware as the definition of “policy” varies wildly. Some say it’s the ability to control the resources apps’ use or where the apps run. Others view policy as governing the permissions and delivering security. Policy is all of that and more. In his session at 16th Cloud Expo, Derek Collison, founder and CEO of Apcera, explained what policy is, he showed how policy should be arch...
Jul. 7, 2015 04:30 PM EDT Reads: 686
"CenturyLink brings a full suite of services to the table and that enables us to be an IT service provider," explained Jeff Katzen, Director of the Cloud Practice at CenturyLink, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 7, 2015 04:15 PM EDT Reads: 428
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
Jul. 7, 2015 04:00 PM EDT Reads: 1,929
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, it is now feasible to create a rich desktop and tuned mobile experience with a single codebase, without compromising performance or usability.
Jul. 7, 2015 03:45 PM EDT Reads: 1,379
"In the IoT space we are helping customers, mostly enterprises and industry verticals where time-to-value is critical, and we help them with the ability to do faster insights and actions using our platform so they can transform their business operations," explained Venkat Eswara, VP of Marketing at Vitria, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 7, 2015 03:45 PM EDT Reads: 896
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Jul. 7, 2015 03:45 PM EDT Reads: 2,372
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
Jul. 7, 2015 03:45 PM EDT Reads: 2,676
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point. In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
Jul. 7, 2015 03:30 PM EDT Reads: 1,783
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect t...
Jul. 7, 2015 03:30 PM EDT Reads: 1,930
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Jul. 7, 2015 03:30 PM EDT Reads: 2,438
Countless business models have spawned from the IaaS industry. Resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his General Session at 16th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, broke down what we've got to work with and discuss the benefits and pitfalls to discover how we can best use them to d...
Jul. 7, 2015 03:30 PM EDT Reads: 2,339
Even as cloud and managed services grow increasingly central to business strategy and performance, challenges remain. The biggest sticking point for companies seeking to capitalize on the cloud is data security. Keeping data safe is an issue in any computing environment, and it has been a focus since the earliest days of the cloud revolution. Understandably so: a lot can go wrong when you allow valuable information to live outside the firewall. Recent revelations about government snooping, along...
Jul. 7, 2015 03:00 PM EDT Reads: 2,368
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
Jul. 7, 2015 03:00 PM EDT Reads: 2,720
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Jul. 7, 2015 02:45 PM EDT Reads: 1,630
"We have an new division call the Cloud Monetization Division, based on our platform Powua, which empowers enterprises and organizations to take the journey to cloud monetization and to make it a reality," explained Ian Khan, Manager, Innovation & Marketing at Solgenia, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 7, 2015 02:45 PM EDT Reads: 641