Kaiser Foundation Health Plan and Hospitals Report 2017 Financial Results

By a News Reporter-Staff News Editor at Insurance Weekly News -- Kaiser Foundation Health Plan, Inc., Kaiser Foundation Hospitals and their respective subsidiaries (KFHP/H) across all eight regions, including the newest region, Kaiser Permanente Washington, reported their 2017 annual financial results. Total operating revenue for 2017 was $72.7 billion, compared to $64.6 billion in 2016. Operating income was $2.2 billion, equal to 3.0 percent of operating revenue, compared to $1.9 billion in 2016, equal to 3.0 percent of operating revenue. Net non-operating income was $1.6 billion in 2017, compared to $1.2 billion in 2016. Net income was $3.8 billion in 2017, compared to $3.1 billion in 2016. Capital spending was $3.3 billion in 2017, compared to $2.8 billion in 2016.

"Despite uncertainty throughout 2017 in the health care industry, we continued our solid performance, delivering membership growth and increased access to high-quality and affordable health care and coverage," said Chairman and CEO Bernard J. Tyson. "We are financially sound as we enter a year that will be challenging, yet transformational, as Kaiser Permanente and the entire industry become more consumer-focused in a world that demands anytime access to affordable health care."

Keywords for this news article include: Hospitals, Insurance, Managed Care, Kaiser Permanente, Health and Medicine, Investment and Finance.

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