Kaiser Permanente Marks Strong 2016 With Sharp New Income Growth
In addition, membership in 2016 grew by about 429,000, up 4.2 percent from the previous year.
San Francisco Business Times:
This Giant Health Care Nonprofit Makes $3 Billion In Profit
Oakland-based Kaiser Permanente reported a strong year in 2016, with growth in its operating revenue and income and 11 million members in its health system. With a footprint in eight states and D.C., the health care giant reported its 2016 operating revenue at $64.6 billion, up from $60.7 billion in 2015. Kaiser saw operating income go up slightly, from $1.8 billion in 2015 to $1.9 billion in 2016. Net income, however, shot up from $1.9 billion in 2015 to $3.1 billion — back to where it ended up in 2014. In February 2015, Kaiser Corporate Treasurer Tom Meier called 2014 an “exceptional year” in an interview with the Business Times, adding then that Kaiser didn’t expect a repeat. Meier attributes this year's sharp growth in net income to gains on investments; 2016 was a strong year for most investors. He did not provide exact numbers. (Siu, 2/15)