Kaiser Earnings Down in Q2
Kaiser Foundation Health Plan and Kaiser Foundation Hospitals on Friday announced that second-quarter profit decreased by $91 million, or 25%, from the same period in 2005, despite increases in membership and revenue, the Pacific Business News reports.
Revenue increased by nearly 10.4% to $8.5 billion from $7.7 billion in the second quarter of 2005. Over the second quarter, Kaiser added 44,000 members nationwide, increasing enrollment by about 0.5% to 8.59 million members.
CEO George Halvorson said Kaiser would use its earnings "to make important investments" in facilities, technology, programs and services.
The not-for-profit Kaiser Foundation Health Plan, Kaiser Foundation Hospitals and their subsidiaries publicly report limited financial information but do not release actual financial statements. Kaiser Permanente Medical Group, a for-profit entity, does not release any financial information publicly (Rauber, Pacific Business News, 8/7).