Kaiser Reports Stronger Revenue, Smaller Net Income Numbers

Kaiser Permanente reported strong revenue growth for the second quarter ending June 30, but net income was flat for the Oakland-based insurer and healthcare system operator.

            For the quarter, Kaiser reported revenue of $15.8 billion, up just over 3% from the $15.3 billion reported for the second quarter of 2015. Net income was $707 million, including investment income of $216 million. It was $1 billion for the year-ago quarter. The company did not provide any specifics as to the decline.

            For the first six months of the year, the company reported net income of $1.2 billion on revenue of $32.1 billion. That compares to net income of $2.1 billion on revenue of $30.3 billion for the first half of last year.

            “Kaiser Permanente remains committed to delivering affordability and high-quality care for our 10.6 million members across the country," said Chief Executive Officer Bernard J. Tyson. "Despite unprecedented change in the healthcare industry, our performance remains strong and steady."

            Year-to-date capital spending was $1.28 billion essentially unchanged from the first half of 2015's $1.3 billion.

            Enrollment has grown by 362,000 since the start of the year, and now totals 10.6 million.